Bitcoin Faces Major Retest of Crucial Support Line Amidst Significant Selling Pressure and Liquidations

Bitcoin experienced a significant decline of over 2% on July 4th, marking a pivotal retest of its critical support level for the first time since October 2023. Data from TradingView showed new local lows of $57,885 on centralized exchanges shortly after the recent daily close, indicating the lack of bullish momentum and ongoing selling pressure