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Are Bitcoin Bears Dominating as BTC Price Declines Further?



The leading cryptocurrency, Bitcoin, caused a tumult by sliding back to the $60K level earlier this week. With constant bull-bear combats, the token has failed to reach new highs as expected post-halving. Over the past few months, BTC price has been dallying around the $60K to $70K range.

In the past 24 hours, BTC observed a notable 15.63% decline in daily trading volume and a 0.35% decline to the $60K margin. At the time of writing, Bitcoin was trading at $61,245.

During Asian morning hours, BTC price descended to a one-day low of $60,585 as per CMC (NS:CMC) data. Following this, it recorded modest increases to surpass the $60K level in the latter half of the day.

Moreover, over the last seven days, Bitcoin has shown a 7.90% price decline and hit a 6-week low of $58,402 on June 24. The recent declines have raised bearish sentiments in the market apart from speculations and FUD for the coming months. Amidst the mixed price action, the market detected the sales of large amounts of BTC from a wallet address identified as the German government in the past week.

Bitcoin (BTC) Price Over the Month

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