The market pressure on Bitcoin remains severe. Recent purchasers of the cryptocurrency are increasingly selling their holdings. Why? Because these newer investors are spooked by a combination of factors: heightened volatility, weak demand, and cash-short cryptocurrency exchanges. Despite attempts at bottom-fishing by some investors, overall sentiment is too cautious to consider the BTC price as likely to mount any significant rally in the near future. Indeed, it seems more likely that the price will work its way back up to—and through—the $30,000 barrier. We may also see further panic-driven selling in the days ahead. The most recent data indicates worrying
The post Bitcoin Faces Intense Sell Pressure: Market Struggles with Weak Demand and Panic Selling appeared first on The Merkle News.
