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Crypto Technical Analysis: Can the bearish pressure slow down?
As markets move into the final stretch of June, one of the main factors still shaping the major cryptocurrency market is the significant weakness that has remained in place for several weeks. The latest week was no exception, as most of the crypto market posted relevant losses and new lows, including Bitcoin, which fell below the 60k area and reached a new low for the year. The lack of demand strength is becoming increasingly clear. Recent market behavior shows that selling pressure remains dominant in the short term, meaning this dynamic could continue to weigh on prices over the next few trading sessions.
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Bitcoin ($BTC) is witnessing stabilization following the recent steep dip to $58,000 area, currently trading about $59,344. Bitcoin traders are keenly observing the demand zone on the bottom time frames. As per the analytics data from TradingView and CryptoQuant, the slowed downward momentum indicates that the Bitcoin ($BTC) sellers are currently losing ...