It has been a rough year for Bitcoin and most major altcoins. Over the last 24 hours, Bitcoin lost 1% of its value, which points towards consolidated price action. BTC has not made much progress over the past week either, as the coin only lost 1.6% of its market value.
For multiple weeks, the coin has been oscillating between $16,400 and $18,000. The closest support line for the coin stood at $16,000. The technical outlook for Bitcoin depicted mundane price action due to a decline in the buying strength on the one-day chart.
Since the price of Bitcoin has remained undecided for quite some time now, sellers have flooded the market, indicating that the coin is headed toward another round of depreciation. The trading volume of Bitcoin has declined considerably, reinforcing that bears were in charge of the asset’s price.
If the selling pressure keeps mounting, BTC will soon lose its crucial price level of $16,000. Currently, BTC is down 76% from its all-time high, secured in 2021.
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We współpracy z: https://newsbtc.com/news/bitcoin/bitcoin-stagnated-soon-can-you-expect-a-rebound/
