Bitcoin Price Declines Amid Market Uncertainty

Bitcoin has experienced a notable decline, losing 4.20% against the US Dollar in the last 24 hours, trading at $61,185. This drop comes as the overall cryptocurrency market cap decreased by 2.68% during the same period. Despite a 5.40% gain in the past month and a 121.80% increase over the past year, Bitcoin is currently trading 15.64% below the prediction made on October 6, 2024.

The market sentiment remains bearish, with the Fear & Greed index at 42, indicating a fearful outlook among investors. Key support levels to watch are $59,481, $58,073, and $55,751, while resistance levels are $63,211, $65,533, and $66,941. Although some indicators suggest a potential 17.87% rise in the next five days, the overall sentiment is pessimistic, reflecting broader market uncertainties and low volatility.