**Bitcoin Faces Tough Week Ahead as Prices Drop**

Bitcoin (BTC) is experiencing significant sell-side pressure, pushing its price to three-week lows. Data from Cointelegraph Markets Pro and TradingView indicates that BTC/USD is nearing a 10% weekly loss. Market experts warn of further challenges for Bitcoin bulls in the coming week.

Key Points:

- Bitcoin's price action is targeting $58,000, influenced by the CME Gap—a void between closing and opening levels on CME Group’s Bitcoin futures markets.

- Popular trader Daan Crypto Trades highlights potential new gaps between $60K-$63K, suggesting an interesting week ahead.

- Nearly $200 million in long BTC positions have been liquidated since August 1, with BTC/USD dropping below $60,000.

- Analysts predict continued volatility and caution that bulls need to hold the $56,000-$60,000 range to avoid further declines.

Stay tuned for more updates as the market evolves.