Bitcoin (BTC) has reached its lowest point since March 17, nearing two-month lows due to concerns about a potential “head-and-shoulders” pattern that could put bears ahead. Despite favorable macroeconomic conditions for risk assets, Bitcoin failed to capitalize on potential gains as bid liquidity declined. Multiple traders have already predicted a retracement to $25,000 or lower, and concerns are rising on whether the pair will remain lower after three local tops. However, some traders, like Philip Swift, co-founder of DecenTrader and creator of LookIntoBitcoin, are confident that the worst losses will soon be over as the long/short ratio diverges, with long positions now prevalent. The article emphasizes that this is not investment advice and readers should perform their own research before making any investment decisions.