After making a great effort to exceed $8,000 yesterday, Bitcoin (BTC) lost the momentum that had been increasing over the past few days and began moving towards the $7,000 area.
The inefficiency of cryptocurrencies in excess of $ 8,000 has led analysts to conclude that BTC may be at risk of a reversal of its recent uptrend. Which means that more losses could be quite imminent.
Bitcoin Loses Momentum as Bears Defend $8,000 Resistance
At the time of writing, Bitcoin is trading just below 2% at its current price of $ 7,600. Indicating a slight decrease in its daily highs below $ 8,000 that set the peak of the recent recovery. It was the first time that BTC increased by $ 6,500.
If Bitcoin does not achieve an upward momentum in the short term. It is very likely to appear lower in the next hours and days, as it may indicate that $ 8,000 is an unsurpassed resistance level. Which would suppress any possible stability.
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