Greed

2024

Bitcoin

<ul>
 <li><strong>Bitcoin has shown sharp price declines recording a 10% decline in June 2024.&nbsp;</strong></li>
 <li><strong>The cryptocurrency witnessed a 15.63% reduction in daily trading volume.</strong></li>
</ul>
<p>The leading cryptocurrency, Bitcoin, caused a tumult by sliding back to the $60K level earlier this week. With constant bull-bear combats, the token has failed to reach new highs as expected post-halving. Over the past few months, BTC price has been dallying around the $60K to $70K range.</p>
<p>In the past 24 hours, BTC observed a notable 15.63% decline in daily trading volume and a 0.35% decline to the $60K margin. At the time of writing, Bitcoin was trading at $61,245.</p>
<p>During Asian morning hours, BTC price descended to a one-day low of $60,585 as per CMC <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>. Following this, it recorded modest increases to surpass the $60K level in the latter half of the day.&nbsp;</p>
<p>Moreover, over the last seven days, Bitcoin has shown a 7.90% price decline and hit a 6-week low of $58,402 on June 24. The recent declines have raised bearish sentiments in the market apart from speculations and FUD for the coming months. Amidst the mixed price action, the market <a href="https://thenewscrypto.com/is-the-german-government-behind-bitcoins-recent-dip/" target="_blank" rel="noopener noreferrer nofollow">detected</a> the sales of large amounts of BTC from a wallet address identified as the German government in the past week.&nbsp;</p>
<h3 class="wp-block-heading" id="h-bitcoin-btc-price-over-the-month">Bitcoin (BTC) Price Over the Month</h3>
<p>According to TradingView <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">data</a>, Bitcoin has exhibited a monthly decline of 12.06%. At the beginning of June, it was trading around the <a href="https://thenewscrypto.com/bitcoin-dips-below-70k-amid-market-selloff/" target="_blank" rel="noopener noreferrer nofollow">$68K level</a> after which followed a short bullish run. During that time, it reached a monthly high of $71,979. However, the second half of June witnessed sharp declines as bears took over reaching current trading levels.&nbsp;</p>
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<p>While the token’s year-to-date (YTD) still shows a 44.41% increase. The daily RSI stands at 33.73 indicating a strong selling pressure. Connectedly, the Bitcoin Fear and Greed Index also denotes a fear sentiment among investors. Additionally its short-term 9-day MA stands below the 21-day MA highlighting the bearish trend.</p>
<p>However, the token witnessed a significant price pump in May 2024 inching closer to its recent ATH of $73,750. This caused an expectation of finally pricing in the Bitcoin halving in April. Moreover, market analysts have maintained a positive outlook toward BTC prices in the coming months. The token is expected to combat current resistance levels in the coming months.</p>

Are Bitcoin Bears Dominating as BTC Price Declines Further?

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