Convergence

Movement

Bitcoin

Divergence

<ul> 
 <li><strong>After a brief rally to $58,492, Bitcoin’s price has fallen and is currently trading at $56,753.</strong></li> 
 <li><strong>BTC has struggled to break through $60K, consolidating between $56K and $58K.</strong></li> 
 <li><strong>Bitcoin’s U.S. spot ETFs have seen six consecutive days of outflows, with $37.29 million recorded in net outflows.</strong></li> 
</ul> 
<p>Bitcoin price movement has drawn significant attention from traders over the past month, with many anticipating a recovery. However, the cryptocurrency has struggled to break through the $60,000 resistance zone. Since the start of September, Bitcoin price fluctuations have remained between $55,500 to $58,000.</p> 
<p>In the past 24 hours, BTC reached a high of $58,492, marking a modest 3.75% increase, but soon began to decline during the evening hours of September 4, continuing this trend into the present. At the time of writing, Bitcoin priced at $56,753, with a market capitalization of $1.12 trillion and a daily trading volume of $31.73 billion, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">CMC data</a>.</p> 
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<p>This drop in Bitcoin’s price movement has also affected the overall cryptocurrency market, including major altcoins like Ethereum (ETH) and Binance Coin (BNB).&nbsp;</p> 
<p>This Bitcoin price fluctuation led to $31.63 million in liquidations over the past 24 hours, representing 33.4% of the total $92.14 million in liquidations across the overall market, according to Coinglass.</p> 
<p>Additionally, <a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-see-288m-net-outflows-amid-market-selloff/" target="_blank" rel="noreferrer noopener">Bitcoin’s U.S. spot ETFs</a> have seen six consecutive days of outflows, starting from August 27. Data from Sosovalue hints that BTC ETFs recorded net outflows totaling $37.29 million, with three out of 12 ETFs showing withdrawals. However, Bitwise was the only ETF to report an inflow, receiving $9.46 million.</p> 
<h3 class="wp-block-heading" id="h-bitcoin-price-movement-shows-bearish-trends">Bitcoin Price Movement Shows Bearish Trends</h3> 
<p>On the technical front, current Bitcoin price movement shows a bearish crossover on September 4, with the 50-day moving average crossing below the 200-day moving average on the 4-hour chart. According to the <a href="https://thenewscrypto.com/bitcoin-btc-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin market analysis</a>, this negative trend is supported by the Moving Average Convergence Divergence (MACD) indicator, where the signal line has fallen below the MACD line.&nbsp;</p> 
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<p>BTC’s RSI stands at 43.30, indicating the market is nearing oversold conditions but hasn’t hit extreme levels yet, as per TradingView market analysis. This suggests some selling pressure but not a full-on buying opportunity.</p> 
<p>In that case, if Bitcoin reaches the $58,000 zone again, there is a chance it could slip below the $55,000 zone, based on current market trends.</p>

Will Bitcoin Price Fluctuations Settle Soon?

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TheNewsCrypto

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