Bitcoin remains stuck below the $60,000 mark, facing consistent resistance and unable to regain its March peak of over $73,000. Current trading price is $56,584, reflecting a 1% decrease in the last 24 hours and a 23.3% drop from earlier highs this year. Market sentiment has shifted due to macroeconomic concerns and a slowdown in crypto adoption, leading to increased uncertainty about Bitcoin's future. IntoTheBlock highlights a potential recession and declining interest in cryptocurrencies as key factors affecting Bitcoin's price. On-chain data shows a decrease in new Bitcoin addresses, indicating a slowdown in new market participants. Analysts compare the current market conditions to previous consolidation phases, suggesting a potential upcoming bullish phase similar to past cycles.