$ETH $BTC $SOL Is Bitcoin Slipping Back Toward a Bear Market?

The price of BTC has fluttered downward since flying higher than ever a month ago. How low could it go?

Bitcoin is being weird again. Last month, it touched a new all-time high of nearly $74,000 per coin. Now, after having dropped hard and fast, the biggest digital coin is trading for $61,655.

VaynerSports Gaming VP Discusses Web3 Content Creators, Decentralized Streaming

One definition of a bear market is an asset priced 20% lower than its most recent high. CoinGecko data shows that BTC is currently more than 18% off the new top it hit in March.

Does that mean we’re edging toward a bear market just weeks after being in a bull market? Is that possible?

Rather than poking the bear, experts told Decrypt that Bitcoin is currently in a consolidating market: one where there is indecisiveness among investors and an asset neither continues nor counters a long-term trend.

As for why? War certainly isn’t helping. Bitcoin took a hit this past weekend—just before a geopolitical event shocked the markets.

Things looked rosy Friday morning Eastern Time when the coin was priced at nearly $71,000. But then the Wall Street Journal reported Iran was planning an attack on its arch nemesis.

The liquidation of hundreds of millions in short positions the same day was compounded when Tehran actually went ahead and launched a wave of 300 drones and ballistic missiles at Israel. #bitcoinhalving