The price is falling again and is just above seventy seven thousand dollars. Many traders hoped that the worst was over but the market is still not showing strong support.
Over the weekend Bitcoin dropped close to seventy four thousand dollars. After that it moved up by about seven percent and reached near seventy nine thousand dollars. This gave some hope that buyers were coming back. But today the price started to fall again and went back near seventy seven thousand dollars. This shows that the bounce was not strong enough.
At the same time gold and silver are moving up. These metals are often seen as safe places when people are worried about markets. Gold is now close to five thousand dollars per ounce. Silver is also rising. This means many investors are moving their money away from risky things and into safer ones.
Stock markets are also falling. Many big tech companies are going down. This includes companies linked to new tech and smart machines. When stocks fall it often puts more pressure on Bitcoin because both are seen as risky by many people.
Some crypto related companies are also losing value. Their shares are going down as Bitcoin drops. This shows that the whole crypto space is feeling weak right now.
Not all companies are falling. Some firms that work in data and power areas are doing better. They are growing because they are building more sites and more power for future use. This gives them more chance to earn in the long run even if Bitcoin is not doing well today.
One market expert said this move in Bitcoin looks like a short bounce and not a real recovery. Traders in the market are still worried that prices can go lower. Many of them are buying protection in case Bitcoin drops again. This means they do not feel safe about the price going up yet.
The expert also said that people are not buying much for higher prices. This is important because when people believe in a strong rise they usually buy more for future gains. But that is not happening now. Instead more people are preparing for more drops.
The market is also showing signs of fear. Short term price moves are very fast and sharp. This tells us that traders are unsure and are moving quickly in and out.
The expert is watching the market for a sign that things are calming down. When price moves slow and the market feels more balanced it can mean that a low point is forming. But for now this is not seen yet.
So even though Bitcoin bounced from the weekend low it still looks weak. Gold and silver are rising which shows that people are choosing safer places for their money. Stocks are falling and that is also hurting Bitcoin.
Many traders are waiting. They want to see if Bitcoin can hold above this level or if it will drop again. Until the market shows clear strength most people will stay careful.
For now the story is simple. Bitcoin tried to move up but failed. Fear is still in the market. Safe assets are rising. Risky assets are falling. And traders are waiting for a better sign before they feel sure that the worst is over.