Bitcoin

<p><a href="https://cryptotale.org/top-bitcoin-holders-satoshi-exchanges-and-governments/" rel="noopener noreferrer nofollow">Bitcoin&#39;s</a> price movement has continued to captivate traders, particularly as it navigates a descending channel that has defined its trajectory in recent months. As of the latest analysis, Bitcoin is trading near the mid-range of this channel, hovering around <a href="https://www.coingecko.com/en/coins/bitcoin" rel="noopener noreferrer nofollow">$57,826</a> with a 24-hour trading volume of $24.8 billion. This level represents a 0.30% decline over the past 24 hours and a 9.69% drop over the past week, emphasizing the market&#39;s current volatility.</p><h2 id="header-0">Descending Channel and Price Boundaries</h2><p>The descending channel, observed by analyst Daan Crypto Trades, in Bitcoin&#39;s price action, has been a crucial factor in recent trading strategies. The upper boundary of this channel, last tested near the $68,000 mark, has repeatedly acted as a robust resistance level.</p><p></p><p>Each time Bitcoin approached this boundary, selling pressure mounted, leading to subsequent price pullbacks. Conversely, the lower boundary, which was most recently tested around $52,000, has provided essential support. The price briefly bounced off this level, indicating strong buying interest, though this interest later waned, reflecting the ongoing bearish sentiment in the market.</p><h2 id="header-1">Recent Long Liquidations</h2><p>Notably, the recent dip in Bitcoin&#39;s price to approximately $57,000 triggered substantial long liquidations, totaling 1.86 billion within a 24-hour period. This liquidation event underscores the significance of the $56,000 level, which serves as a critical support point for many leveraged traders.</p><p>Related: <a href="https://cryptotale.org/bitcoins-consolidation-could-lead-to-a-potential-breakout/" rel="noopener noreferrer nofollow">https://cryptotale.org/bitcoins-consolidation-could-lead-to-a-potential-breakout/</a></p><p><a href="https://cryptotale.org/bitcoin-price-went-to-57k-is-it-becoming-the-losers-game/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a></p><p><strong>Visit the links for more information </strong><a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|</p>

Bitcoin price Went to 57K: Is it becoming the loser's game?

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