Bitcoin Retraces Below $57K as ‘Sell-on-Rise’ Action Continues

The leading cryptocurrency by market value fell over 2% to $56,700, having failed to secure a foothold above $58,000 on Wednesday. Prices peaked above $65,000 on Aug. 25 and have been falling ever since, with the downtrend characterized by brief, shallow bumps, a sign of a persistent “sell-on-rise” mentality.

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Cryptocurrencies: 17,170
Markets: 1,282
Marketcap: $ 2.82 T
24h Vol: $ 94.43 B
BTC Dominance: 58.91%