Analyst: Leveraged liquidation dominates this round of decline, with $60000 being a key support area for Bitcoin BlockBeats News: On February 24th, Min Jung, Associate Researcher at Presto Research, stated that Bitcoin's drop below $63000 seems to reflect a widespread deterioration in cryptocurrency market sentiment rather than a single fundamental catalyst. In the short term, macro headlines, especially those surrounding tariffs and the resurgence of geopolitical uncertainty, are intensifying the risk aversion of digital assets. Jung added, "It is worth noting that even with the relative resilience of traditional risk assets, cryptocurrencies have performed poorly recently. This divergence indicates that this is not purely driven by macro factors, but also reflects weak marginal demand, thinning liquidity conditions, and continued deleveraging within the crypto native market. Andri Fauzan Adziima, Head of Research at Bitrue, said: 'We have seen large-scale long liquidation, hundreds of millions of dollars disappearing, funding rates remaining negative, open contracts sharply declining, and the futures market clearly leaning bearish. Short term holders have suffered heavy losses, but long-term holders have not yet started large-scale selling; on chain HODL signals show that someone is quietly accumulating in the process of strategic risk reduction.'. " Adziima pointed out that the $60000- $63000 range is a key support area for Bitcoin. If the price can remain stable at or above that level, the market may benefit from the damage caused by negative funding rates to short positions, creating conditions for the classic 'clean up short squeeze'. The analyst added that the potential easing of macroeconomic conditions or the return of ETF funds may further support this trend. Adziima stated that on the other hand, if it falls below $60000, in the worst case scenario, as the macro background worsens and the chain of liquidation accelerates, it may open the door to a decline towards the middle of $55000 or even as low as $47000. Adziima said, "At that time, we may eventually force some long-term holders to surrender, turning this into a deeper bear market extension before the true bottom of the cycle arrives