Bitcoin($BTC ) traders are exercising caution as signs point to a potential downtrend in the market. Following a period of price consolidation, BTC has struggled to maintain momentum above key resistance levels, sparking concerns of an impending correction. Market analysts cite a combination of macroeconomic uncertainty, declining trading volumes, and investor hesitation as contributing factors.
Technical indicators, including weakening RSI and bearish divergences, have fueled fears that the flagship cryptocurrency may test lower support zones in the near term. Additionally, rising U.S. dollar strength and anticipation around interest rate policies are adding further pressure on risk assets like Bitcoin.
Traders and investors are closely watching the \$60,000 level as a critical threshold. A break below this range could trigger broader sell-offs, while a strong rebound may signal renewed bullish sentiment. Until clearer signals emerge, market participants are advised to approach with caution and manage risk appropriately.
