The cryptocurrency space continues with the consolidation phase for the Second consecutive day with dried volume and depleted volatility. After breaking down from the positive tendency pattern, the price has failed to win strength and boost back, signaling that the bears have superseded the bulls. In such cases, the market sentiments tend to become fearful with fewer expectations of a tendency reversal towards the north.
The worldwide market conditions are believed to worsen in the coming days, as enormous selling pressure is about to kick into the cryptocurrency space. As the panic sellers are constantly selling their cryptocurrency at a loss, the crypto tokens are expected to remain less volatile for some time. This is why, it is very obvious that the market participants remain bearish on Bitcoin.