Losing streak continues: Bitcoin down $462.69 to $27,700 adding to its four days of losses

Bitcoin weakened earlier in the day, before moving away from its $27,362 low and recovering back to $27,700.

Bitcoin is currently trading at $27,700 following the release of ISM Manufacturing PMI (Mar) data from the United States.

Amid the market gloom, United States ISM Manufacturing PMI (Mar) released today at 14:00 UTC with a figure of 46.3, while the previous figure was 47.7. United States ISM Manufacturing Employment (Mar) came out at 46.9, while a consensus of analysts was expecting 50. United States ISM Manufacturing Prices (Mar) came out at 49.2, while a consensus of analysts was expecting 51.2.

Bitcoin made an initial break below its 10 day Simple Moving Average at $27,867, a possible indication of a forthcoming negative trend. In contrast, Bitcoin could begin to recover as it approaches significant support, now $24.69 away from $27,738. Dipping below could be an indication that further losses are ahead.

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

In the meantime, negative performances are also seen in other markets, EOS is down to $1.17, losing $0.069, after closing at $1.23 in the preceding trading session.

Other assets are showing positive performances as having closed the previous session at $0.079, Dogecoin is up 18.09% today to currently trade at around $0.093. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Furthermore, United States JOLTs Job Openings (Feb) scheduled to come out tomorrow at 14:00 UTC.

Bitcoin now trading 70.15% above its 3-month low of $15,759.