Bitcoin prices are currently stagnant, hovering around $59,039 and encountering resistance at $59,420 in a sustained downward range.

Despite multiple attempts, prices have struggled to break through this key level, which also indicates that bearish sentiment is still continuing. Traders are keeping a close eye on this key resistance level, as failure to overcome it could lead to a further drop to $57,724. Ledn CEO Adam Reeds pointed out that Bitcoin-backed loans can increase the velocity of capital. Traditional banks generally do not accept Bitcoin as collateral, which leaves long-term Bitcoin holders with limited options for borrowing. To solve this problem, Ledn allows people to borrow money against their Bitcoin holdings. This allows small companies, especially, to quickly access cash, which otherwise may take a long time at regular banks. Compared to real estate or stocks, Bitcoin is a better form of collateral because it does not depreciate over time. Ledn CEO said: Bitcoin mortgages can accelerate the flow of capital. Adam Reeds, CEO of Ledn, said that Bitcoin mortgage loans can greatly improve the liquidity of currency and capital. Many Bitcoin holders are reluctant to sell their Bitcoins.