Bitcoin (BTC/USD) Faces Selling Pressure, Tests 50% Retracement Level

Bitcoin (BTC/USD) experienced increased selling pressure during the early Asian trading session, with the price encountering resistance around the 37,346.16 mark. This level represents a test of the 50% retracement of the recent appreciating range, which spans from 36,241 to 38,454. Market participants should closely monitor the price movement to determine if the selling pressure will continue or if the digital asset will rebound from this key retracement level.