Is Bitcoin Aiming For Price Recovery Amid Mounting SellOffs?
- Bitcoin price showed an upward movement of 7.34% in the last 24 hours.
- The token recorded $289.32 million in 24-hour liquidations as per coinglass data.
The overall crypto market has suffered a significant price drop over the last few days. Similar to the beginning of July, leading cryptocurrencies fell to previous support levels. This bearish turn has led to the rise of various speculations, with analysts expecting further dips. The leading cryptocurrency, Bitcoin, showed a slight upward movement with a 7.34% price increase in the last 24 hours.
Notably, Bitcoin, in the past few months, has initiated bullish and bearish cycles in its price activity. However, the token’s recent dip has been, as quoted by community members, one of the worst weeks except for the FTX collapse. The token recorded a 16.33% price drop in the last 7 days as per CMC reports .
Bitcoin, at the beginning of the day, was trading at $53,824 following which it slid to an intra-day low of $49,121. However, as the day progressed, BTC price began showing upward movements rising to the $55K level. Notably, the token’s trading volume also hiked by 42.15%. At the time of writing, the token was trading at $55,893.
Meanwhile, according to coinglass reports , Bitcoin has witnessed a 24-hour liquidation of $289.32 million. The high liquidations are further highlighted by the token’s RSI standing at 32.23. Amid the context of high selling pressures, this recent price recovery can be interpreted as the token’s attempt to combat bearish price movements.
Meanwhile, several leading community members, such as JP Morgan have stated that a buy-the-dip season is approaching for the largest cryptocurrency.
Bitcoin Price Weekly Overview
At the beginning of the week, Bitcoin traded at a high of $66,987 after hiking from the July market crash. As the week progressed, the token witnessed slight dips but managed to maintain prices above $60K levels. However, over the weekend, the market crash occurred when BTC prices plummeted to $52K causing other altcoins to drop as well.

Moreover, according to TradingView data, the token’s short-term 9-day MA stands below the long-term 21-day MA suggesting current bearish trends. Additionally, BTC’s monthly price performance shows a 4.88% decline fueled by the recent dip.
Furthermore, despite the recent dip, MicroStrategy Chairman, Michael Saylor has advocated for the token by stating his intention to HODL Bitcoin.
Highlighted Crypto News Today:
Shytoshi Kusama’s Cryptic Message Ignites Shiba Inu Community
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Polygon Targets $1 & Ethereum Eyes $3,600, Yet BlockDAG’s CertiK Audit and $0.0019 Coins Could Outperform All
Discover Polygon (POL) price movement and Ethereum (ETH) price analysis as both eye breakouts, and see why BlockDAG’s CertiK audit, growing presale, and attractive pricing position it among the best crypto for higher returns in 2025.Polygon (POL) Price Movement Signals Breakout Toward $1Ethereum (ETH) Price Analysis: Tight Range Could Spark $3,600 BreakoutBlockDAG’s CertiK Audit Strengthens Its Case as the Best Crypto for Higher ReturnsTo Sum It Up

$298M Crypto Liquidations Rock BTC and ETH Traders
Crypto liquidations hit $298M in 24 hours, with BTC and ETH leading losses. Here's what caused the wipeout.A Rough Day for Crypto TradersWhat Triggered the Liquidations?Caution Ahead for Leverage Users

Top New Meme Coins to Invest in This Month: Troller Cat Flaunts 7k% ROI as Official Trump and Mog Coin Rise from Slumber
Troller Cat ignites excitement with 69% APY and 7,000% ROI target. TRUMP and MOG bounce back, but is this cat the real jackpot?Troller Cat ($TCAT): Clawing Up the Ladder with Massive ROI PotentialOfficial Trump ($TRUMP): Slow Grind with Political BuzzMog Coin ($MOG): The Cult Favorite Gets a PulseConclusion

SOL Technical Analysis Signals Strength, Cardano’s AI Testnet Launches & BlockDAG’s $0.0019 Offer Ends on May 13
Explore SOL Technical Analysis & details on Cardano's AI Testnet. See why BlockDAG’s $0.0019 entry before May 13 could define the best crypto platform call.SOL Technical Analysis Points to Cautious OptimismCardano’s AI Testnet to Simulate High-Frequency Network ConditionsBlockDAG’s Listings Near: $0.0019 Offer Available Until May 13What Defines the Best Crypto Platform in 2025?

Trending news
MoreCrypto prices
More








