{"id":24361,"date":"2024-07-04T22:30:49","date_gmt":"2024-07-04T19:30:49","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24361"},"modified":"2024-07-04T16:08:02","modified_gmt":"2024-07-04T13:08:02","slug":"will-bitcoin-price-continue-its-downtrend","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/will-bitcoin-price-continue-its-downtrend\/","title":{"rendered":"Will Bitcoin Price Continue Its Downtrend?"},"content":{"rendered":"

As Bitcoin’s decline deepens, investors are wondering when the uptrend will start on one hand and how far the downtrend will go on the other hand.<\/p>\n

At this point, cryptocurrency data platform IntoTheBlock said that more than 16% of BTC holders are at a loss after Bitcoin fell below $60,000.<\/p>\n

He also explained the levels to be followed below $60,000 for BTC and the next demand zone where the decline could go.<\/p>\n

IntoTheBlock analysts, pointing out that BTC has shown a weakening trend below $60,000 according to historical data, said that more downward pressure may continue according to the data.<\/p>\n

According to IntoTheBlock data, the next significant demand zone for Bitcoin<\/a> is between $40,000 and $50,000, and there is a risk that the decline will fall to this zone.<\/p>\n

\u201cBitcoin has fallen below the critical demand level of $60,000. This decline puts more than 16% of BTC holders in a losing position.<\/p>\n

Historically, demand below $60,000 for Bitcoin has been weak, indicating that downward pressure continues.<\/p>\n

The next major demand zone is between $40,000 and $50,000.”<\/p>\n

Bitcoin, which has lost 5.2% in the last 24 hours, continues to trade at $57,354.<\/p>\n

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Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a> and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As Bitcoin’s decline deepens, investors are wondering when the uptrend will start on one hand and how far the downtrend will go on the other hand. At this point, cryptocurrency data platform IntoTheBlock said that more than 16% of BTC holders are at a loss after Bitcoin fell below $60,000. He also explained the levels<\/p>\n","protected":false},"author":1,"featured_media":17974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,60,7188],"class_list":["post-24361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-btc","tag-intotheblock"],"yoast_head":"\nWill Bitcoin Price Continue Its Downtrend? - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/will-bitcoin-price-continue-its-downtrend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will Bitcoin Price Continue Its Downtrend? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"As Bitcoin’s decline deepens, investors are wondering when the uptrend will start on one hand and how far the downtrend will go on the other hand. 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