Bitcoin's Bearish Grip: Price Faces Deeper Decline Threats Bitcoin price extended losses recently, failing to hold ground above the critical $113,800 mark. The leading cryptocurrency is currently in a phase of consolidating these losses, and analysts suggest a strong possibility of another decline. This downward momentum could push its price further down, potentially testing the significant support zone around $110,500 in the near future. This period of market uncertainty has investors and traders closely watching key technical levels to gauge the next major move for BTC. Bitcoin initiated a fresh wave of decline, dropping below the psychological $113,500 zone. The price continues to trade decisively below $113,500 and crucially, below the 100 hourly Simple Moving Average, signaling persistent bearish sentiment. A prominent bearish trend line has emerged, acting as a dynamic resistance point around $114,000 on the hourly chart of the BTC/USD pair, based on data feeds from Kraken. Conversely, the pair could potentially initiate a new upward trajec…
