The recent performance of the bitcoin market has shown regular volatility, and after last Monday's upward trend followed by a downward trend, this Monday once again showed a similar pattern. It is worth noting that Bitcoin rarely showed 11 consecutive black candlesticks on the hourly chart, and there were hardly any signs of a rebound throughout the decline.
Market analysis suggests that if it weren't for Ethereum's recent resilience, the price of Bitcoin may have fallen below the 105,000 key support level and could have further tested the 104,000 area. This streak of declines is not common in the Bitcoin market, raising concerns among traders about short-term movements.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The recent performance of the bitcoin market has shown regular volatility, and after last Monday's upward trend followed by a downward trend, this Monday once again showed a similar pattern. It is worth noting that Bitcoin rarely showed 11 consecutive black candlesticks on the hourly chart, and there were hardly any signs of a rebound throughout the decline.
Market analysis suggests that if it weren't for Ethereum's recent resilience, the price of Bitcoin may have fallen below the 105,000 key support level and could have further tested the 104,000 area. This streak of declines is not common in the Bitcoin market, raising concerns among traders about short-term movements.