Bitcoin is trading at $111,005.84, reflecting a 1.6% decrease as traders engage in profit-taking after a 7.29% decline last week. Technical indicators suggest a potential oversold bounce. As profit-taking continues, market sentiment appears cautious, prompting traders to reassess their positions. The Relative Strength Index (RSI) has reached a neutral zone, indicating a balance between buying and selling pressure. This situation may allow for a rebound if buyers step back into the market. Observers are closely monitoring price movements for signs of recovery or further decline.
