The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In the absence of clear bullish catalysts, Bitcoin faces increasing technical pressure after falling below key support levels on the chart and on-chain valuations. According to a report from CoinDesk, historical bear market patterns suggest the cryptocurrency could find a bottom near $45,000, a level representing a significant decline from current prices.
The latest available market data shows Bitcoin closed at $60062.01 (May 15, 2026), well below major moving averages. This decline comes amid a volatile macro environment, with Canadian inflation coming in higher than expected and a speech from Fed's Waller, adding to uncertainty in risk assets.
Sign in to access this content
Sign InTraders are watching upcoming central bank speeches and US PMI data, which could shape the dollar and risk appetite. If pressure on Bitcoin persists, it may pave the way for a test of the $30,000 area as next support, with the distant $45,000 level remaining a bearish target per historical patterns.