Bitcoin (BTC) Experiences Downward Pressure.
The recent trading activity for Bitcoin (BTC), as shown in the chart, indicates a clear bearish trend. After peaking near the $89,000 level, the price has been consistently trending downwards.
The selling pressure appears significant, pushing the price through key support levels and establishing a new consolidation range below $87,000. At the time of the chart capture, the price is hovering dangerously close to the $86,300 mark, with selling bids slightly lower than buying asks.
Traders should exercise caution. If the $86,000 psychological support level fails to hold, we could see a further accelerated move to the downside. The overall market sentiment for this asset appears negative in the short term, suggesting that bears are currently in control.
