Bitcoin fell below $57,000, erasing gains from Wednesday’s brief rally above $58,000. BTC was trading around $56,800 at the time of writing, around 0.3% higher than 24 hours ago. The broader digital asset market, as measured by the CryptoX 20 Index, added about 1%, with SOL and DOGE leading the gains. Bitcoin peaked above $65,000 on Aug. 25 and has been falling ever since, with the downtrend characterized by brief, shallow bounces, a sign of a persistent “sell-on-rise” mentality. This likely stems from increasing U.S. recession risks, which lead to a reduction in exposure to risk assets.
BTC Erases Gains From Wednesday’s Brief Rally
