BTC trend

The trend in Bitcoin (BTC) is currently neutral to slightly bearish, as indicated by the recent price movements and market sentiment.

1. Recent Price Movements:

   • Bitcoin's price has experienced a slight decrease, with the live price currently at $60,870.21, representing a change of -0.79% over the past 24 hours.
   • The price fluctuated between $60,492.63 and $61,451.15 within the last 24 hours.

2. Market Sentiment:

   • The CoinDesk Bitcoin Trend Indicator (BTI) flipped from bullish to neutral on Thursday, suggesting a loss of momentum in the upward direction.
   • Historical trends show that Bitcoin's price tends to be volatile, with significant price swings within a short period.

3. Comparative Performance:

   • Bitcoin's market capitalization stands at $1.20 trillion, and its 24-hour trading volume is $13.01 billion.
   • The cryptocurrency has seen a significant increase in trading volumes and investor optimism following the approval of Bitcoin ETFs.

4. Technical Analysis:

   • Bitcoin has broken below the floor of the rising trend channel in the medium to long term, indicating a weaker initial rising rate.
   • The currency has support at $60,000, which could act as a floor for the price in the short term.

In conclusion, while Bitcoin has experienced significant price volatility and has seen periods of bullish momentum, the current trend is leaning towards a neutral to slightly bearish outlook. Investors should exercise caution and consider the high volatility nature of the cryptocurrency market when making investment decisions.