Bitcoin price has fallen nearly 3% in the last 24 hours, down 38% since mid-January. According to NS3, the trend is due to failed rebounds and bearish technical signals. On-chain data shows that medium- to long-term holders are selling, while speculative traders are absorbing this supply, increasing downside risk.
$63,000 level is now a key support zone; if broken, it could lead to further declines to $57,740 or even $42,510.
