Bitcoin is struggling during this time. It is currently trading at $58,420 after a minor 0.77% increase in the last 24 hours. It has dipped 9.41% over the past month as it failed to clear the next resistance levels. Bulls have been struggling to overcome the market as bears are controlling the narrative

Market sentiment is indeed bearish, with Bitcoin struggling to break through resistance levels. Bears are likely taking advantage of the dip to accumulate, while bulls are waiting for a clear trigger to enter the market.