$BTC Source: BeInCrypto Date: June 4, 2026 | Authors: Jakub Dziadkowiec, Lucas Espindola
Bitcoin (BTC) took a sharp dive this week to around $62,227 (down about 4.77% in 24 hours), and it's now hitting the 200-week simple moving average (~$62,000 / $61,800) for the first time in this market cycle. Along with that, the legendary Rainbow Chart has also entered the 'Fire-Sale' zone, marking the lowest and rarest bands throughout its history.
200-Week Moving Average: Most Reliable Cyclical Support