The chart fairly says all of it. The draw back stress is persisting for Bitcoin (and meaning nearly all different cryptocurrencies), with the break under $40,000 final week probably the most notable factor in the intervening time.
That’s leaving loads of room for worth to move right down to retest the Could to July 2021 lows of round $30,000 to $32,000 subsequent.
The previous specifically is a vital psychological worth level that can collect loads of consideration. If that breaks, it is just about wanting like a nostril dive again to “obscurity” for Bitcoin.