After a slight bounce back, the cryptocurrency market is bearish again, according to CoinStats.BTC chart by CoinStats

BTCUSD

The rate of Bitcoin has dropped by 2.13% over the last day.Image by TradingView

On the hourly chart, the price of BTC is more bearish than bullish as it is falling after a failed attempt to fix above the interim zone of $63,000.

If the situation does not change by the end of the day, there is a chance to see a test of the support by tomorrow.Image by TradingView

A similar picture is on the daily time frame. If the bar closes below the support level of $63,136, one can expect an ongoing decline to the $62,000 area shortly.Image by TradingView

From the midterm point of view, there are no reversal signals yet, which means it is too early to think about a bounce back. Moreover, if buyers lose the $60,000 zone, the accumulated energy might be enough for a dump to the $55,000 zone.

Bitcoin is trading at $62,979 at press time.