Bitcoin (BTC) has seen a sharp drop during the week, with selling pressure continuing to mount. The cryptocurrency is struggling to trade above $60,000 and is down by over 2% during the ongoing session.
Additionally, the gains made by altcoins are also beginning to turn red as the crypto market sees a significant slide. Is this a correction, or are we seeing the bull market ending?
Bitcoin (BTC) Dives Below $60,000
Bitcoin (BTC) fell to a low of $59,317 on Wednesday and has continued its downward trajectory during the current session, losing the crucial $60,000 level. Bears have maintained their selling pressure and are now looking to push BTC below $58,000. However, bulls are expected to defend at this level, which means that BTC could stay within its trading range for some time. A continuation in BTC’s downward trajectory can be attributed to the selling pressure created by Mt. Gox creditors, who may look to book profits after receiving their repayments later in July.
We współpracy z: https://cryptodaily.co.uk/2024/07/crypto-price-analysis-7-04-btc-eth-sol-bnb-ada-uni-doge-apt
