Bitcoin Struggles Below Key Resistance as Downtrend Lingers

Bitcoin's latest recovery attempt has lost momentum, leaving investors concerned about the broader downtrend.

The cryptocurrency briefly reclaimed several short-term moving averages after rebounding from its June lows, but failed to hold above the 50-day exponential moving average (EMA), now trading near $63,000.

Bitcoin's inability to overcome this resistance has resulted in a series of lower highs, signaling fading bullish momentum and increasing market uncertainty.

The 100-day EMA sits near $67,000, while the downward-sloping 200-day EMA remains around $72,000. Until BTC reclaims these major resistance levels, the broader market structure continues to favor bears.