The cryptocurrency market is on edge: Bitcoin is hovering around $57,000, showing many bearish signals. 📉 The 200-day average has been broken, the RSI is falling. Payments will begin in July for Mt. Gox, which could add $8.5 billion Bitcoin to an already volatile market. Will Bitcoin stand or fall to new lows?

Bitcoin is showing bearish signals, breaking its 200-day average. The RSI also fell below its average. Despite this, current market conditions indicate the possibility of further declines.

In July Mt. Gox will begin paying around $8.5 billion in Bitcoin to creditors. This could lead to a potential drop of 19.2%. Our analysis indicates that Bitcoin price may fall to the support range between $50,856 and $51,985.

Volatility expectations are also increasing. The current price is near the lower boundary of a significant supply node between $60,000 and the ATH, where 2.63 million BTC is located.

Despite significant interest in Bitcoin from major players in the financial industry, CoinGlass data shows that inflows into Bitcoin ETFs are declining and outflows have begun.

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