<ul><li>Bitcoin's price has yet to recover above the key 200-day moving average, and if things remain the same, it is seemingly bound to drop to lower levels.</li><li>On the daily chart, Bitcoin rebounded from the $60K support level, but the 200-day moving average is currently preventing the price from rising, indicating a potential decline towards the $56K level.</li><li>On the 4-hour chart, BTC broke below an ascending channel, suggesting a probable decline towards the $60K level and beyond.</li><li>Bitcoin miners have been aggressively selling their coins since the price exceeded $40K, leading to a decline in the reserve metric. This behavior may result in excess supply and a significant downtrend.</li></ul>

BTC Price Analysis: Can Bears Push Bitcoin Below $60,000 Soon?

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