Bitcoin is failing to recover above the key 200-day moving average and is likely to fall to lower levels if the situation does not change. 📉

On the daily chart, the price has bounced off the $60K support level but failed to break the 200-day moving average, indicating a bearish sentiment.

On the 4-hour chart, Bitcoin has broken the ascending channel, increasing the likelihood of a fall to $60K and below.

Analysis of miner behavior shows that they are actively selling their coins, which may lead to excess supply and further price declines.