Bitcoin has been falling for 6 months: second time in history! Here’s what happened last time

Bitcoin’s fall below $60,000 last Friday capped its worst week since the collapse of Sam Bankman-Fried’s FTX exchange in 2022. The forces currently at work seem almost harmless compared with those events, but that is exactly what worries analysts, who warn that the token’s modest rebound may prove short-lived as structural weaknesses are exposed. Bloomberg writes about this.

Bitcoin plunged sharply below the $66,000 level after a new escalation of tensions between the United States and Iran. On Coinbase, the price of $BTC fell to as low as $65,385, marking its lowest level since late March.

Bitcoin price started a fresh decline below the $74,000 zone. $BTC is consolidating and might struggle to stay above the $72,000 support.

Bitcoin’s ($BTC) loss of gains since the start of the month may signal the arrival of seasonal weakness at the beginning of summer, reflected in the saying “sell in May and go away.”

The leading cryptocurrency, Bitcoin ($BTC), weakened and fell to the $75,000 level, in contrast to the upward trend in global stock markets. Major altcoins such as XRP, Ethereum ($ETH), and Solana ($SOL) also declined during the same period.