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Bitcoin price drops 9%, risks falling below $60,000 amid weak whale support and strong supply resistance.

Technical Signals
28 Mar 2026
BeInCrypto
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Bearish
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Bitcoin price has fallen about 9% since March 25, breaking a key support level near $67,000 and erasing monthly gains. Technical charts show a bearish head and shoulders pattern suggesting a potential 12% correction that could push Bitcoin below $60,000. Although a short-term bounce of about 1.87% occurred due to a hidden bullish divergence, this rally faces strong resistance from supply clusters between $66,900 and $69,400, where over 6% of Bitcoin's supply is concentrated. Whale investors have reduced their holdings, indicating weak conviction to push prices higher, making a sustained recovery above $70,000 unlikely without stronger buying pressure. The critical level to watch is $66,600, which will determine if Bitcoin can bounce or continue downward toward $59,400.

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