Bitcoin (BTC), the leading cryptocurrency, has faced a significant downtrend over the weekend. Its price plummeted by 10% initially and further declined by 2% in the last 24 hours, reaching approximately $57,117. This sharp fall places Bitcoin in a precarious position.
Currently, Bitcoin is trading within a falling wedge pattern. Historically, this pattern indicates a potential further drop in price. There is a critical support level, and if Bitcoin slips below this threshold, additional price reductions could follow.
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