Bitcoin price managed to recover 2.2% today and “protect” the $60,000 support level. It is now trading around $62,000 at press time. Still, the BTC price is down almost 20% this week – one of the worst weeks since the FTX collapse in 2022. The cleanest explanation is that Bitcoin had fewer new buyers than sellers, so prices fell until leveraged positions were forced out and the decline fed on itself. This looks more like a demand‑driven correction than a structural collapse in the network, since long‑term holders and exchange balances were still relatively firm.