Bitcoin (BTC) fell to $61,217 on Thursday, extending a multi-day decline that has pushed the leading cryptocurrency well below the $62,000 level it briefly reclaimed on Wednesday.
The drop marks a reversal of the modest 0.59% gain seen in the previous session, as sellers regained control of the market.
The breakdown from the $62,000 range, which had served as temporary footing, indicates that bearish sentiment remains dominant in the near term.
The move follows a period of heightened volatility, with Bitcoin trading at $62,689 on Wednesday before retreating to approximately $62,323 on Tuesday.
The current price action suggests that the earlier recovery was short-lived, with the asset now testing lower support zones amid persistent selling pressure.
Market participants are closely watching whether the $61,000 level can hold as a floor for the digital asset.
The breakdown from the $62,000 range, which had served as temporary footing, indicates that bearish sentiment remains dominant in the near term.