Bitcoin's price has continued its downward trend, marking its fourth consecutive session of decline. The cryptocurrency fell sharply to a low of $61,310, representing a significant drop of about 25% from its recent peak of $82,500 on May 10. This bearish trend has been fueled by persistent risk-off sentiment among investors, who are also reallocating funds into upcoming IPOs. The recent decline accelerated after Bitcoin broke below its 100-day moving average, further increasing the bearish outlook. However, today's trading saw some buying interest as prices approached the critical $60,000 support level. The broader market conditions, including a decline in the NASDAQ and easing pressures from lower Treasury yields and oil prices, have provided some stability. If today's low serves as a support level, traders will focus on potential retracement levels of the recent decline, with significant interest around $66,194 and $67,702. For now, sellers remain dominant, but the attraction of bargain hunters near the $60,000 mark could influence future price movements.