Multiple analyses suggested that the chances of a further decline in BTC’s price were high. Market sentiment around BTC was also bearish.
BTC’s open interest increased, suggesting the current price trend might continue for longer.
price has remained under the $28,000 mark for quite some time now. The slow price action has disappointed many investors.Additionally, the latest reports suggest that the scenario can turn worse. A CryptoQuant analysis pointed out an interesting development regarding BTC’s exchange deposits.As mentioned earlier, BTC’s price has been declining for multiple weeks now. According toAdditionally, its 24-hour trading volume also plummeted by 22%.
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