As Bitcoin undergoes a significant dip in its price, investors are wondering whether the overall bearish trend in the short-term will carry on, or a bull market will start. The 24-hour decrease of 2.21% and a 7-day decrease of 1.77% suggest that the sentiment in the market is more cautious and fearful. In addition, 51.03% of long positions were liquidated in the last 24 hours and the RSI indicates an oversold condition. Furthermore, 75.00% of price movement has been downwards for the last two weeks, indicating a trend reversal. Indicating a possible market bottom in the middle of a bear market.

The cause behind the bearish price in Bitcoin might be the regulatory uncertainty and the technical problems in the network like liquidity drop, leading to dec a lower demand. On the brighter side, US investors’ buying pressure is observed to be relatively strong in Coinbase, potentially leading to higher prices. Crypto Tony tweeted about the recent dips and indicated possible pumps in Q3. In addition, the correlation between Bitcoin and the stock market has weakened, indicating macroeconomic factors are less influential in the digital asset market.

Therefore, there are indications in the Bitcoin market that the bearish trend might not be a long-term issue for investors. If the dips can be contained and slowly start going up in June/July, then it will indicate the start of a new bull market, potentially pushing the price of Bitcoin above $30,000. However, if the drops continue, the price might break below $25,000 in the near future.



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