Bitcoin has already lost more than 76% of its November 10, 2021 all-time high value (ATH) of $69,044 when its overall market capitalization reached $1 trillion.
The digital asset is enduring quite a challenging year, first having to deal with the ongoing crypto winter and the losing all gains it had when the market rallied towards the end of October due to the sudden collapse of the FTX exchange platform.
After managing to reclaim the $21K territory, BTC was once again in a downward trend and is now struggling to hit even just the $17,000 region.
At the time of this writing, according to tracking from Coingecko, Bitcoin is trading at $16,473 and although it has posted an increase of 4.1% over the last seven days, it is still down by almost 21% for the past 30 days and by 71% on a year-to-date (YTD) basis.
The maiden crypto is not in a good spot right now and some of its bullish investors, such as Fundstrat, are aware of it.
