Bitcoin Holds $60K Support as AAVE and JUP Outperform

Key Moments

Market Under Pressure as Liquidations Spike

The broader cryptocurrency complex remains under heavy downside pressure, with Bitcoin (BTC) once again testing the $60,000 region for the third time this year. The latest drawdown has been accompanied by significant on-chain selling from large investors, while derivatives markets have seen sharp forced unwinds.

The total crypto market capitalization has declined by 54% from its October 2025 peak, removing approximately $2.2 trillion in value over that period, as previously reported by FXStreet. Over the last 24 hours, total liquidations reached $984 million, with $799 million coming from long positions. This liquidation profile highlights a market structure dominated by sellers, as leveraged bullish bets continue to be flushed out.

On-chain analytics from Santiment indicate that BTC whales holding between 10 and 10,000 coins have unloaded 45,074 BTC over the past 8 days. Persistent outflows from such large wallets typically weigh on sentiment and can prolong downside moves, reinforcing the prevailing risk-off tone across digital assets.

Crypto liquidation data. Source: CoinGlass

Bitcoin whales holding data. Source: Santiment

Bitcoin Clings to Psychological Support

Bitcoin trades just above $60,000 at press time on Thursday, defending a key psychological and horizontal support zone. Despite holding this floor, the broader technical picture continues to lean bearish in the near term.

BTC remains firmly below its key trend-following gauges, with the 50-day Exponential Moving Average (EMA) positioned at $68,229 and the 200-day EMA at $78,198, capping the upside. The configuration underscores that rallies remain contained within a corrective backdrop.

Momentum indicators also reflect fragile demand. The Moving Average Convergence Divergence (MACD) is at risk of crossing below its signal line, pointing to the possibility of renewed downside momentum. Meanwhile, the Relative Strength Index (RSI) hovering near 33 signals subdued buying interest following the latest decline.

On the downside, the immediate focus is the $60,000 area. A clean break beneath this zone would open the door to deeper losses and confirm an extension of the broader corrective phase.

On the upside, BTC first confronts resistance at the 50-day EMA around $68,229. Above that, the former rising trendline break near $73,636 stands as an additional hurdle, with the 200-day EMA at $78,198 forming the next key ceiling. Only a sustained move back above this stacked resistance region would begin to alleviate the current downside pressure and shift focus toward a more constructive structure.

BTC/USDT daily price chart.

Aave Shows Constructive Rebound Within Broader Correction

Decentralized finance token Aave (AAVE) has emerged as a notable outperformer against the challenging market backdrop. At press time on Thursday, AAVE trades above its 50-day EMA at $79.45 after rising 10% in the prior session.

From a chart perspective, AAVE is extending a rebound within a falling channel, keeping a near-term constructive bias intact. Price is attempting to build a short-term base above dynamic support, although the broader structure still resides within a corrective environment.

Overhead, the falling resistance trendline near the $100 level is the first key obstacle, followed by the 200-day EMA at $118. This combination creates a layered resistance zone that constrains the scope for a more durable medium-term recovery.

Momentum indicators are supportive of the current bounce. The RSI near 61 and a MACD line that remains above its signal line both suggest that buyers maintain control while AAVE stays above the 50-day EMA.

On the topside, initial resistance aligns with the long-standing downward trendline close to $100, followed by the 200-day EMA at $118, which defines a more strategic cap on upside potential.

On the downside, the 50-day EMA at $79.45 is the first significant support level. A daily close back below that line would damage the emerging bullish setup and increase the risk of a deeper retracement. Holding above it, however, keeps the door open for a continued push toward the $100 region.

AAVE/USDT daily price chart.

Jupiter Trades Between Key EMAs With Buyer Bias

Jupiter (JUP) is also showing resilience compared with the broader market, trading above its 200-day EMA at $0.2198, while the 50-day EMA at $0.1910 acts as underlying support. Price action around these levels leaves the token in a neutral-to-mildly constructive stance as it interacts with the longer-term moving average.

Momentum tools lean in favor of buyers. A rising RSI near 63, a MACD line above zero, and a constructive histogram collectively point to bullish initiative as long as price remains compressed between the key EMAs.

On the upside, immediate resistance is located at the 200-day EMA around $0.2198. Beyond that, a trendline drawn from prior highs near $0.2498 represents the next important barrier. A decisive break above this downtrend resistance would be required to confirm a more convincing bullish reversal.

On the downside, initial support is identified at the 50-day EMA at $0.1910. A daily close below this level would undermine the current recovery profile and expose the lower end of the recent trading range.