Bitcoin is showing mixed technical signals, with onchain cost-basis data suggesting a potential market bottom while chart patterns keep the risk of further downside in view. According to Cointelegraph, a large cost-basis cluster between $60,000 and $70,000 is being interpreted as a possible support zone, as it reflects a concentration of holders whose average purchase prices fall within that range.
At the same time, Cointelegraph reports that Bitcoin remains vulnerable due to a bearish daily flag pattern, which can indicate continuation of a downtrend. This setup leaves BTC exposed to a deeper selloff, with $50,000 cited as a potential downside target if bearish momentum persists. The combination of a possible support base near the $60,000–$70,000 range and a bearish technical formation underscores uncertainty over whether buyers can defend key levels or whether sellers will push prices lower.