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🧠BITCOIN'S VOLATILITY CONTINUES TO PERSIST

🧠BITCOIN'S VOLATILITY CONTINUES TO PERSIST

Day: 08 | Time: 14:10:13 Bitcoin experienced an 11% correction in the first week of July, marking its worst weekly performance since the FTX crash in November 2022. This recent decline also mirrors the drop in August 2023, when Bitcoin fell below the 200-day moving average and consolidated for several months before starting a recovery in October. Bitcoin has now recorded four consecutive weeks of decline. The last time it experienced five consecutive weeks of losses was in the first half of 2022. The cryptocurrency is currently below its all-time high by 23%, with the most significant drop reaching 27% when it briefly fell below $54,000. This pattern of frequent corrections and potential consolidation suggests that the market may see stabilization before any significant upward movement.

Bitcoin: Weekly Price Performance
Bitcoin: Daily Price Performance
BTCUSD Drawdown from all-time high