Bitcoin's struggle to rise above $64,000 is attributed to three main factors. Firstly, investors are withdrawing funds from U.S. spot Bitcoin ETFs, with significant outflows recorded. Secondly, decreased network activity indicates reduced demand, as seen in the drop in daily active addresses and exchange inflows. Lastly, Bitcoin has lost several key support levels, including the 50-day and 200-day EMAs. Analysts highlight $60,000 and $56,500 as crucial support levels to watch for potential further declines.

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