Bearish Bitcoin currently $790.72 lower after trading as high as $29,326

Bitcoin drops $790.72 early on and steadies around the $28,458 level.

Bitcoin is currently trading at $28,458 following the release of ISM Manufacturing PMI (Apr) data from the United States.

Meanwhile, United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States ISM Manufacturing Prices (Apr) released today at 14:00 UTC with a figure of 53.2, while the previous figure was 49.2. United States ISM Manufacturing Employment (Apr) came out at 50.2.

Bitcoin could begin to recover as it approaches significant support, now $581.51 away from $29,039. Dipping below could be an indication that further losses are ahead. Bitcoin made an initial break below its 21 day Simple Moving Average at $29,167, a possible indication of a forthcoming negative trend.

Looking forward, Bitcoin is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, Cosmos USD is down $0.38 from the beginning of the session and now trades around $11.13.

Other assets are showing positive performances as FTX Token is up 9.54%. TRON is up 2.41%.

Furthermore, United States JOLTs Job Openings (Mar) is scheduled for tomorrow at 14:00 UTC.

Bitcoin has gained 77.49% since its lowest print of $15,759 earlier this year.