Bitcoin falling below the 60-week line is a reflection of short-term market volatility, and it requires a comprehensive analysis considering multiple factors. Here are some viewpoints for reference:

1. Technical Level
The 60-week moving average is an important reference indicator for long-term trends. Falling below this line may suggest that short-term bearish forces are dominant, but it is necessary to combine it with other technical indicators (such as MACD, trading volume, etc.) to determine whether the trend will continue. If the MACD indicator does not simultaneously cross below the zero line, or if the trading volume does not significantly increase, it may just be a short-term adjustment rather than a trend reversal.
2. Market Sentiment and Capital Flow
Breakouts are often accompanied by panic selling, leading to a rapid decline in prices in the short term. However, it is important to note that some capital may take the opportunity to accumulate at lower prices. If on-chain data shows an increase in net outflows from exchanges and long-term holders' positions remain unchanged, it may indicate that selling pressure is nearing its end, and there may be momentum for a rebound.
3. Macroeconomic and Policy Factors
The current market is greatly influenced by macro factors such as the Federal Reserve's policies and global economic data. If expectations for a Federal Reserve interest rate cut increase or policy uncertainty decreases, it may provide support to the market; conversely, if liquidity flows out of risk assets, it may intensify downward pressure.
4. Historical Experience and Cyclical Patterns
Historically, Bitcoin often experiences a period of consolidation after falling below key support, and may then welcome a rebound. Current market sentiment is close to extreme fear levels; based on historical data, this may be a time for long-term investors to position themselves, but short-term volatility risks still need to be heeded. Suggestion:
· For short-term investors, it is necessary to strictly control positions, avoid counter-trend bottom fishing, and wait for clear rebound signals (such as weekly candlesticks closing in the green, increased trading volume, etc.).
· For long-term investors, consider regular investment or increasing positions on dips based on your risk tolerance, but be prepared for long-term holding.
· Regardless of the strategy, it is necessary to remain rational, avoid being influenced by emotions, and closely monitor on-chain data, policy dynamics, and changes in market sentiment. It should be noted that the cryptocurrency market is highly volatile, and the above analysis is for reference only and does not constitute investment advice. Investment should be approached with caution and decisions should be made based on individual circumstances.