Bitcoin (BTC) price steadies as analysts warn more downside lies ahead

The crypto market enters the final stretch of the month in a perilous position with bitcoin BTC $ 59,913.04 still below $60,000 and ether (ETH) less than $1,600.

The bitcoin price has now lost more than 50% of its value since October's record high, with analysts suggesting that more downside is on the cards over the coming months.

On Monday, the largest cryptocurrency is marginally in the black, rising by 0.6% since midnight UTC to $59,800 despite the broader market structure and chart formation skewing bearish.

Solana (SOL) has recovered after tumbling to its lowest point since late 2023 early this month. It has advanced by more than 13% since Thursday and 2% since midnight.

U.S. equities rose overnight as Nasdaq 100 futures traded up 1% while S&P 500 futures added 0.75%. Both indexes remain in a downtrend since setting record highs on June 15.

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

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