Bitcoin is trading below its 200-week simple moving average, putting BTC back near one of the market’s most watched long-term trend lines during the latest selloff. Ali Martinez flagged the 200-week SMA setup, placing the long-term average near $63,500 while Bitcoin traded just below it around the $60,000 area. BTC recently traded near $60,341, with an intraday low near $58,761 and an intraday high near $60,469.