Despite hitting its new all-time high (ATH) this year, Bitcoin (BTC) has recently been struggling, particularly evident in its occasional dips below the critical price level of $60,000 and pulling the rest of the cryptocurrency market down with it, leaving crypto traders baffled over the reasons.
As it happens, Bitcoin has been trending bearishly for weeks, dropping well below its recent record-breaking price of $73,738, failing to meet expectations stemming from positive developments like the approval of spot Bitcoin exchange-traded funds (ETFs) and the halving event.
Bitcoin price analysis
Indeed, the flagship decentralized finance (DeFi) asset was at press time changing hands at the price of $60,530, which suggests it has declined 3.35% in the last 24 hours, adding up to the weekly loss of 2.30%, and accumulating a dip of 13.10% on its monthly chart, as per the most recent data on July 3.
Bitcoin price 30-day chart. Source: Finbold
In this context, some factors emerg
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