📢 Crypto market is on edge: Bitcoin is hovering around $57,000, showing several bearish signals. 📉 Its 200-day average is broken and the RSI is falling sharply. Payments to Mt. creditors are expected in July. Gox has about $8.5 billion in Bitcoin, which could increase volatility.

Bitcoin has already crossed its 200-day average several times. The last time this happened was in June 2022, and it remained below that level until March 2023. This could indicate that Bitcoin typically remains below its 200-day average throughout the summer and fall.

On the other hand, Bitcoin fell below the On-Chain Trader Realized Price, reinforcing the bearish outlook. Despite significant interest in Bitcoin from major players in the financial industry, recent data from CoinGlass shows that inflows into the Bitcoin ETF are declining and outflows are beginning.

Given all these factors, it is possible that Bitcoin will remain at lower levels for some time, perhaps until September or October.

🤔 What do you think are the prospects for Bitcoin? Share your opinion in the comments!