According to CoinMeta, as reported by Coinpaper, Bitcoin (BTC) is recently at risk of falling below $60,000 due to exchanges' BTC reserves increasing by more than 20,000 BTC, leading to increased selling pressure. Currently, the price of Bitcoin is trading around $63,970, and technical analysis suggests it may pull back to the range of $62,165 to $59,591. If it breaks through $65,347, there could be room for a rise to $69,000. An increase in exchange reserves is generally seen as a signal of selling pressure, although it does not mean that all of the additional 20,000 BTC will be sold. Analysts point out that if reserves fall back to 2.7 million BTC, it would weaken the selling pressure signal. Overall, Bitcoin is likely to fluctuate within the range of $62,165 to $65,347; buyers need to confirm a break above the resistance level, while sellers hold the upper hand when prices are below the support level.