At the beginning of the year, Bitcoin’s price was around $44,215.21. Following a strong market surge, Bitcoin reached a yearly peak of $73,057 in mid-March. However, the market has seen a decline since then, with unsuccessful attempts to push the price higher during early June and late July.
Investors are now keen on whether Bitcoin can overcome the $60,000 barrier. The sentiment in the market appears cautious as traders keep a close watch on price movements and market conditions.
Overall, the ongoing analysis indicates the presence of strong sell pressure, suggesting the market might struggle to regain its previous momentum in the immediate future.
