The Bitcoin price is attempting recovery on low timeframes as the cryptocurrency struggles to get above $19,000 and prevent further downside. Selling pressure has been relentless over the last 24 hours and has sunk market sentiment back into the fear territory. Related Reading: Bitcoin Price (BTC) Slides Under $19,000 — The First Time Since July 4 Over the next week, the crypto space will go through a major milestone as Ethereum completes its transition to a Proof-of-Stake (PoS) consensus. Check out our analysis of the potential impact on the price of Ethereum and what to expect for the crypto market. At the of writing, Bitcoin price trades at $18,900 with a 5% loss in the past day and seven days, respectively. The rest of the crypto market preserves some of its gains from the past weeks, but the bullish momentum in Ethereum (ETH) and Cardano (ADA), might be fading. Why The Bitcoin Price Must Reclaim These Levels According to crypto analyst Justin Bennett, Bitcoin price was able to hold about a critical support zone as yesterday’s selling pressure intensified. The cryptocurrency was moving in a tight range and flirting with levels north of $20,000, but ultimately bears won the round leading to downside price action. As seen below, Bitcoin has been bouncing from yesterday’s low at around $18,600 since June 2022. At that time the crypto market was coming off a steep decline and was on track for a long period of consolidation on ...
