Bitcoin, the largest cryptocurrency, is facing challenges as its price continues to drop, reaching a six-week low of $63,379 on June 21. While altcoins have also been affected, they have not experienced the same level of losses as Bitcoin. As of now, Bitcoin is trading at $64,160, but analysts are predicting a tough road ahead.

According to crypto analyst Skew, lower levels are sparking buyer interest, but more is needed for a significant comeback. Massive liquidations in futures have worn out the bulls, and short selling and spot selling are dominating at low levels. Another analyst, Roman, predicts that if $64,500 is lost, the price will drop to $60,000 again.

Analysts are divided on the future of Bitcoin, with some predicting a turnaround and others expecting further losses. Jelle, a crypto analyst, is surprised that the BTC price has not reclaimed lower levels, but notes that the RSI remains above 30, indicating interesting behaviors. On-Chain College is optimistic about a breakout above the Short-Term Holder Cost Basis (STHCB), which has historically acted as a strong support area.

Material Indicators' co-founder Keith Alan points to the lower level of the 21-week simple moving average, $63,074, as the key area to watch. If this area is lost, sales could intensify. Overall, analysts are cautious about the future of Bitcoin, and the market is waiting with bated breath to see what happens next.

In conclusion, Bitcoin is facing significant challenges as its price continues to drop. While some analysts are predicting a turnaround, others are expecting further losses. The next few days will be crucial in determining the future of Bitcoin, and the market is eagerly waiting to see what happens next. Will Bitcoin find the support it needs to bounce back, or will it continue to struggle? Only time will tell.