Bitcoin continues to face downward pressure, currently trading around $115,205.89 after losing ground from April lows, with potential downside limited near $114,600. Despite this, recent data indicates rising demand, particularly from first-time buyers and conviction holders. Over the past five days, the supply held by first-time buyers increased by 1.0%, suggesting some market resilience. However, a significant spike in loss sellers, who are offloading BTC below their purchase price, signals short-term selling pressure. In the ether market, prices are retracing to test a significant breakout price of $4,100. The overall crypto market exhibits signs of weakness, yet metrics like the Relative Strength Index indicate oversold conditions, hinting that these dips could present opportunities for investors. Notably, BTC dominance increased to 59.7%, suggesting a concentration of power within Bitcoin amidst fluctuating altcoin performances.

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