The last day has been a real test for holders of the first cryptocurrency. After a brief rebound, Bitcoin ($BTC ) found itself under pressure again, trading in a narrow range around $70,100. According to Investing.com, the fear and greed index is stuck at 18 (extreme fear). Analysts link the current stagnation to expectations of inflation data in the U.S., which will be released next week.
As noted by ForkLog, trading volumes on the spot market have fallen by 12%, indicating the reluctance of major players to open new positions before breaking through the key resistance level of $72,500. Traders are actively discussing the 'bearish flag' forming on the daily chart. If support at $68,000 fails, the market risks seeing a sharp decline to $62,000. The market is currently in a state of 'awaiting sideways movement' with a high risk of volatility.
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