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Edited by: Du YuIn recent days, the Bitcoin index has been continuously declining. Since February 16th, its index has fallen by 17%, with a single day drop of up to 8% on February 17th alone

On the evening of May 31st, Bitcoin fell below the $27000 per coin level, falling more than 3% during the day.

Bitcoin traders and short-term speculators have always been 'buying on dips', but this sentiment seems to be weakening at the moment.On May 26th, on chain analysis provider Santiment observed that Bitcoin traders often purchase short-term, small cryptocurrency prices, but are hesitant to purchase long-term, larger price drops

Reported by Zhao Yi, Hu Jinhua, a reporter from China Times (www.chinatimes

Bitcoin is clearing through unconfirmed transaction stacks, but still at historical highsPrice:In the debate over the role of Bitcoin and concerns about halving, Bitcoin and Ethereum have started to remain flat in East Asia; Cobo's data indicates that market confidence is recovering, while Bybit links the surge in memecoin to reinvestment and warns that if Bitcoin fails to stabilize above $30000 after halving, it will have an impact on mining.opinion:The reduction in Bitcoin congestion has affected the rise of counterfeit coins, while the demand for BRC-20 tokens has led to high fees and increased miners' income without new users, which may change the relationship between Bitcoin and Ethereum and its market dynamics

The strengthening of the US dollar not only causes non US currencies to continue to decline, but also makes it difficult for the digital currency market to escape the disaster of a pond fish.On Wednesday, September 7th, Bitcoin plummeted by over 5% at one point, and although it regained its lost ground and slightly rebounded, it remained below the $19000 mark

Bitcoin successfully pulled back after falling below $26000 over the weekend, reaching a maximum challenge of $27200. However, it continued to decline and failed to stabilize at $27000

Recently, Bitcoin prices have fallen for the second consecutive day, reaching their lowest level in six weeks, which may indicate a bearish trend in the short term. Tokens are losing some of their rebound gains in 2023, and market sentiment seems to be more cautious and fearful

In terms of short-term BTC price trends, it is becoming increasingly difficult to find bullish voices.Bitcoin fell below $28000 on May 9th as the market prepared for macroeconomic data release

Due to the devastating impact of the cryptocurrency market massacre on the entire digital currency economy, today's top meme coins have fallen by 4.8% against the US dollar

Highlights of the storyDue to favorable market conditions for bears, Bitcoin prices fell below $28000 in early trading hours.The market continues to be bearish as external factors have had a profound impact on the rebound and are expected to dominate for a long time in the future

Ethereum seamlessly implemented withdrawals on April 12th, also known as the Shanghai upgrade, causing ETH prices to rebound to over $2100, the highest level since May 2022.According to CryptoQuant, a crypto data company, within four days after the upgrade of Ethereum Shanghai, the crypto exchange had a net inflow of 179500 Ethereum (ETH) worth approximately $375 million