Bitcoin Price: Technical Factors and Uncertainty Creates Bearish Trend

Bitcoin price (BTC) has continued to face stiff resistance to trade above the $7000 level over the last two weeks. The tug o’ war between bulls and bears intensified in the last month; bears are holding tightly to the crypto markets since the advertisement ban from major social platforms, along with the global regulators increasing regulatory demands.

Bears have successfully plunged bitcoin price by almost 30% in the last month alone, down 50% since the start of this year. The largest crypto coin, however, finds the support around $6600. BTC trades around $6700 today.

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