Bitcoin Faces Fourth Month of Decline as $81K Support Looms

Bitcoin is on the verge of recording its fourth consecutive month of losses, as the cryptocurrency landscape experiences a significant change in momentum, resulting in many investors facing challenges. Recent statistics provided by CryptoSlate reveal that Bitcoin, the leading digital currency, experienced a drop of nearly 7% within the last 24 hours, currently trading at $82,513.

As per data from CoinGlass, traders holding long positions are expressing concern as market conditions evolve. The current price trend raises questions about the durability of the $81,000 support level, a crucial threshold that could define Bitcoin's next moves.

With the market sentiment shifting, the focus remains on whether Bitcoin can regain its footing or if it will continue its downward trajectory. Investors are closely monitoring these developments as they could significantly influence future trading strategies.