Bitcoin

Daily

<ul>
 <li>Bitcoin price has experienced notable declines in the past week.&nbsp;</li>
 <li>The daily trading volume of BTC observed a 7% decrease.</li>
</ul>
The overall crypto sector, after the recent price recovery, has begun showing resistance to maintaining the bullish run. Bitcoin market price, in the past 24 hours has taken a bearish turn with prices sliding closer to $67K. The leading cryptocurrency hit market prices close to its all-time high of $73,750 last week.&nbsp;
In the past 24 hours, Bitcoin price declined by 0.71%, sliding down to a low of $67,188. BTC’s trading volume also dropped by 7.03% to $27 billion. At the time of writing, Bitcoin was trading for $67,544 and its market cap stood at $1.3 billion.
<h3 class="wp-block-heading" id="h-will-btc-bulls-win-the-combat-against-bears-nbsp">Will BTC Bulls Win the Combat Against Bears?&nbsp;</h3>
Zooming out, over the week, Bitcoin prices have shown increased volatility. According to CMC <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>, the crypto asset visited the $70K mark briefly on May 28, before sliding down to find support consistently at the $68K level.&nbsp;
Moreover, BTC price began the week on a bearish note sliding from $69,506 to a weekly low of $66,813. With a weekly performance of a negative 1.44%, BTC bears are posing a strong combat to the bullish comeback this week.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/J8-0VcFctgY5Qj-sBgBIEdIx4_vPKS9zqy2gjv9bbKcf26JQt5mWB9P3wjah2TnZ9Xk7iNJJuSfh9PirvTUF9Fl3Xn44X2js1QlUL8uiGBaa3HcV5FxvZfoHdXrmEPiYfi3Stt5ko_EavuugqktoFoU" alt="">
 <figcaption class="wp-element-caption">BTC/USDT Daily Trading Chart (Source: <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
However, according to TradingView <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">data</a>, this month records a 6.74% increase in performance. Additionally, the year-to-date (YTD) performance has increased by 61.22%. With optimistic performances over the month, the recent decline can be attributed to a struggle to break resistance which analysts anticipated.&nbsp;
Additionally, the short-term 9-day SMA surpassed the current Bitcoin price underscoring the bearish movement. In terms of market sentiment, with an RSI of 52.90, BTC has remained in neutral condition. Meanwhile, the Fear &amp; Greed Index at 73 indicates that the investors have leaned toward the greed zone.&nbsp;
Notably, spot <a href="https://thenewscrypto.com/blackrock-surpasses-grayscale-to-become-largest-bitcoin-etf-fund/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> have experienced consecutive inflows. According to Sosovalue data, the US spot BTC ETFs witnessed a daily total net inflow of $28.32 million as of May 29.&nbsp;
Furthermore, the recent $3 billion worth of Bitcoin transfer by <a href="https://thenewscrypto.com/mt-goxs-staggering-3b-bitcoin-transfer-stirs-up-market-fud/" target="_blank" rel="noopener noreferrer nofollow">Mt.Gox</a> has stirred the market. In terms of whale movements, BTC whales have shown increased movements in the last 7 days. Analysts’ predictions for BTC have remained constant that prices will cross the $70K resistance.&nbsp;
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Bitcoin Price Struggles to Break $68K Resistance, Delayed Rally?

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