Crypto: Bitcoin Bull Market ‘over’? BTC Price Sees 4th Red Monthly Candle

Bitcoin printed its fourth red monthly candle in a row as BTC price fell below $80,000, with many traders questioning whether the bull market will return.

Bitcoin (BTC) fought to avoid a fresh price dive at Monday’s Wall Street open as traders grew increasingly bearish on the bull market outlook.

Many Bitcoin market commentators question whether the bull market will return.

BTC price action sees four consecutive red monthly candles for the third time in history.

Gold cooling off can still offer crypto a shot, says analyst.

Data from TradingView confirmed a roughly 2% bounce for BTC/USD versus the daily open.

Having set new 16-month lows of $74,532 on Bitstamp, the pair fielded more and more bearish predictions, with $74,000 and under now popular.

“The coming sessions are likely to be critical in shaping market direction for the remainder of the quarter,” trading resource QCP Capital wrote in its latest Asia Color market update.

Traders had little faith in a true market rebound from current levels.

“Weekly lower low on closing basis. Uptrend confirmed over,” trader Jelle told X followers in one of his latest posts.

Source: CoinTelegraph