The cryptocurrency market continues to face price declines. Bitcoin, as the main digital currency, is not an exception, showing significant reduction in the recent 24 hours.
Bitcoin Price Decline
Over the past 24 hours, the price of Bitcoin (BTC) has decreased by 4.51%. Latest data shows that Bitcoin is currently trading at $76,461.
Technical Analysis of Support Level
On the hourly chart, Bitcoin may have established a local resistance at $77,906. If the bullish market does not take the lead, a test of the support level of $74,578 is expected in the coming days.
Price Prospects for the Coming Days
If the price breaks the $74,457 level, the decline may continue into the $70,000-$72,000 range. In the medium-term outlook, there are no reversal signals observed. If the weekly close occurs around the $73,881 level, the accumulated energy may be sufficient to test the $70,000 mark.
The situation in the cryptocurrency market remains challenging, and investors need to monitor support levels and potential peaks.
