Bitcoin’s weakening demand failed to absorb increased selling pressure, raising risks of a further BTC price drop toward $72,000.
Bitcoin (BTC) has fallen 6.5% from its recent high above $82,000, as a bearish technical structure, weakening demand, and increasing sell pressure now point to the risk of further losses ahead.
Key takeaways:
Bitcoin’s failure to hold above key support levels suggested buyers were unable to sustain the upward momentum.
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