Bitcoin (BTC) continues its slide, losing over 3% this week, but bulls are trying to defend the short-term realized price (STH-RP) of $64,230. 📉 Bitcoin weakness has led to a steady outflow of funds from exchange-traded funds since June 13, according to Farside Investors.

Analyst Willy Woo suggests that Bitcoin's recovery will begin after "weak miners die" and hashrate recovers.

If Bitcoin starts to trade above $64,602, it could attract buying in individual altcoins.

However, if the price declines from the current level or moving averages, it will be a signal that sentiment remains negative and traders continue to sell the rally. This will increase the likelihood of a deeper correction to $60,000.

It is also worth noting that bulls did not allow Toncoin (TON) to fall below the 50-day SMA ($6.83), indicating strong buying at lower levels.