BTC Drops Over 5% in 24 Hours, Strong Short-Term Bearish Sentiment Prevails

Bitcoin is currently changing hands at $63,867.00, marking a 5.69% 24-hour decline, with a clear short-term weakening trend confirmed across price action.Bearish conviction in the market now stands at 85%, with bears firmly in control of near-term price movements. The projected intraday trading range sits between $62,788 and $64,946. Existing position holders are advised to stay alert to pullback risks as price tests key support levels, while a highly cautious stance is recommended for short-term traders.---Note: Terminology is adapted to match standard crypto trading parlance for English-speaking audiences, with no adjustments made to original price data and forecast parameters.