At 1:54 pm IST, Bitcoin was trading at $58,027, a decrease of nearly 0.5%, while Ethereum had slipped by 0.9% to $2,461. The past week has been challenging for Bitcoin, with a drop of nearly 9%, following a 10% decline in August after briefly reaching $64,000 earlier that month. Edul Patel, Mudrex CEO, attributed Bitcoin's dip below $60,000 to increased selling pressure and outflows from Bitcoin spot ETFs. He warned that if this trend continues, Bitcoin could fall to the $55,700 support level.
