**Crypto News Analysis: How Long Will Bitcoin’s Price Decline Continue? What Levels Should We Watch? Analysis Company Announces Insights!**
According to IntoTheBlock analysts, current data suggests that downward pressure on Bitcoin may persist.
**Author:** Elif Azra Güven
**Date:** 04.07.2024 – 11:02
**Update:** 7 seconds ago
—
As Bitcoin’s decline deepens, investors are left questioning both when the upward trend will resume and how far the price might drop.
IntoTheBlock, a cryptocurrency data platform, reported that over 16% of BTC holders are experiencing losses after Bitcoin fell below $60,000. They outlined key levels to monitor below this threshold and identified the next demand zone where the price might stabilize.
**Key Insights:**
– Historical data shows Bitcoin tends to weaken below $60,000, suggesting continued downward pressure.
– The next significant demand zone is between $40,000 and $50,000, indicating a potential risk of the decline extending into this range.
Bitcoin’s fall below the $60,000 support level, a critical demand zone, has resulted in more than 16% of BTC holders being in a loss position. The historically weak demand just below $60,000 implies further downward pressure is likely.
Currently, Bitcoin has decreased by 5.2% in the last 24 hours, trading at $57,354.
**Tweet from IntoTheBlock:**
> Bitcoin has breached its $60,000 support level, a critical demand zone. This move leaves over 16% of BTC holders in a loss position. Historically, demand just below $60k has been weak, suggesting further downward pressure. The next significant demand zone lies between $40,000 and $50,000.
*Disclaimer: This is not investment advice.*
**Register with Binance to invest in over 300 cryptocurrencies and receive a 20% commission discount using this link!**
Follow us on [Telegram](#) and [Twitter](#) for exclusive news, analytics, and on-chain data!
—
**Comments:**
**Inline Feedbacks**
View all comments
