These Simple Factors Show Bitcoin Could Be in for Intense Bearishness

Bitcoin’s bearishness yesterday has spilled over into today, leading the cryptocurrency to slowly drift lower today as its bulls struggle to garner enough support to propel BTC back into the coveted five figure price region.

This recent price action seems to have struck fear into the hearts of investors, as it could mean that the highly bullish market structure it has developed over the past several weeks will soon be invalidated.

Now, analysts are noting that there are a few key factors that could lead BTC to see further downside in the near-term, but it remains unclear as to whether or not this will be enough to invalidate its 2020 uptrend.

Bitcoin Remains Stuck Beneath $10,000 as Bears Build Strength

At the time of writing, Bitcoin is trading down 2.5% at its current price of $9,880, which marks a notable decline from daily highs of $10,200 that were set early yesterday morning just prior to the massive selloff that led it back into the four-figure price region.

This selloff came…