#BTC is currently experiencing a bearish trend. Over the past 24 hours, BTC has decreased by 2.3%, and the candlestick charts reflect a notable downward movement, particularly with a sharp drop around 12:00 on May 23, 2025, as seen in the provided chart.

Technical indicators signal a cautious outlook for BTC. The Relative Strength Index (RSI) is likely approaching oversold territory following the recent decline, while Stochastics and the Commodity Channel Index (CCI) may also reflect weakening momentum due to the consistent downward pressure over the last few hours.

The moving averages present a mixed perspective—short-term averages are likely indicating a sell due to the recent price drop, whereas long-term averages might still suggest buying, given BTC’s overall 62.2% increase over the past year. However, the immediate market sentiment leans towards a downtrend for Bitcoin.

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