Bitcoin has been losing its position for a long time, but has recently been held near the $40,000 mark. However, against the background of increased selling pressure, so far there are no obvious signs of a bullish trend. The overall market sentiment remains rather bearish, with many crypto experts predicting further price declines. Popular analyst Alan Santana has identified key support and resistance levels that should be closely monitored.

According to Santana, in the near future, bitcoin may drop to $23,000. The nearest support level is $37,500, and bitcoin can reach it within a few days. The expert emphasizes: "When the price reaches the support level, there is often a rebound. However, bitcoin failed to overcome the $41,000 level, which may indicate the presence of large sell orders above this mark. In such circumstances, there is a high probability of additional price reductions."

It should also be noted that even after the approval of industry ETFs, bitcoin has not been able to retain short-term benefits. Although there was a sharp increase to $49,000, then the coin began to actively lose ground. Bitcoin is currently holding near the $40,000 level, which represents a strong support area. A breakout of this zone is likely to lead to further price declines.

On the other hand, many experts assess bitcoin's medium-term prospects positively. They believe that the upcoming reduction of the mining reward (halving) will play an important role in supporting the price of bitcoin. However, the macroeconomic environment remains unstable, with rising inflation in the United States. This reduces the likelihood of the Federal Reserve introducing monetary easing measures in the coming months.