Bitcoin's recent price volatility has kept it hovering near the $60,000 mark, only to see it repeatedly fall below this level.
Bitcoin struggles to maintain its rise above $60,000, as selling pressure from holders at a loss keeps pushing the price back down.has experienced significant price volatility over the past few weeks, with its chart indicating a pattern where the price rises and approaches the $60,000 to $61,000 range, only to decline shortly afterward.price chart reveals a consistent volatility pattern around the $60,000 price range.
The primary reason Bitcoin has been unable to sustain this uptrend is the increased selling pressure whenever the price approaches or exceeds the $60,000 range. Specifically, the chart shows that over 6.9 million addresses bought Bitcoin within this price range. When BTC’s price approaches or exceeds these levels, many of these holders may be inclined to sell their holdings to recover their investments or minimize their losses.This pattern is a key reason why BTC has been unable to establish a stable uptrend in recent weeks despite occasionally reaching the $60,000 level during trading sessions.
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