Bitcoin on pace for worst month since June 2022 as one strategist says token cou

Bitcoin (BTC-USD) slid below $60,000 on Tuesday, putting the token on track for its worst monthly performance since June 2022.

The world's largest cryptocurrency has had a dismal first half of the year, sheding 33% year-to-date compared with the broader S&P 500's (^GSPC) gain of 8%. It was set to end June down more than 19%.

Bitcoin has been in a sustained downward trend after tumbling from its all-time high in early October, with selling pressure and forced liquidations echoing patterns seen in prior cycle drawdowns.

While bitcoin is down roughly 52% from its record peak, analysts have noted the downturn has unfolded without the major bankruptcies that defined previous crypto bear markets.

Even digital asset treasury giant Strategy (MSTR) helped ease market concerns on Monday after announcing it had raised more than $1 billion to boost its cash reserves rather than buy more bitcoin, a reassuring sign for investors about the company's liquidity and ability to pay dividends.

Where do analysts predict Bitcoin prices heading next?

What impact are Bitcoin ETF outflows having?

What factors are driving Bitcoin's significant monthly decline?

How do current crypto market conditions

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/article/bitcoin-on-pace-for-worst-month-since-june-2022-as-one-strategist-says-token-could-drop-to-40000-141926609.html)