As of August 25, 2024, Bitcoin's price is experiencing a period of volatility, with the value hovering around $60,000 to $61,000 USD. This follows a recent attempt to break past the $62,000 resistance level, which ultimately failed due to increased selling pressure. Over the past few days, Bitcoin has been fluctuating within this narrow range, indicating a consolidation phase after the gains seen earlier in August.
The current market sentiment suggests that Bitcoin is struggling to maintain upward momentum, with short-term traders adding significant selling pressure. This has resulted in Bitcoin facing challenges in sustaining any substantial rally. If the price fails to hold above the $59,000 support level, further downside risks could emerge. On the other hand, a break above $62,000 is necessary for any significant bullish continuationă8â sourceăă9â sourceăă10â sourceă.#bitcoinnewsupdate #USDTfree #VOTEme
