Bitcoin's market value has fallen to its lowest point since March 17, dropping over 12% since May 6. This comes after CoinDesk's Bitcoin Trend Indicator flipped from bullish to neutral, indicating a shift in momentum and strength in bitcoin's price.
The decrease in liquidity on major exchanges, including Binance, has made it difficult for traders to execute large orders without influencing prices. Analysts warn that bitcoin's drop to two-month lows has confirmed a head-and-shoulders bearish reversal pattern on technical charts, potentially leading to a deeper slide towards support around $25,000.
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