Bitcoin Price Analysis - May 31

Recent trends in the cryptocurrency market indicate a sustained bearish sentiment as sellers exerted pressure over the weekend. Bitcoin (BTC) witnessed a moderate decline of 0.83% in the past 24 hours, signaling a cautious approach among investors. The current hourly chart reveals BTC's attempt to breach the $67,750 resistance level, poised for a potential upswing towards the $68,000 territory. However, the daily time frame paints a mixed picture with Bitcoin's price oscillating within the $67,000-$69,000 bracket, suggesting a period of sideways trading in the absence of clear dominance. Analyzing the mid-range prospects, the diminishing trading volume points to a lack of significant market movements in the short term, possibly leading to a consolidation phase within the $66,000-$70,000 range at the onset of June. Presently, Bitcoin is trading at $67,694.