Bearishness ruled the bitcoin market this week. According to CMC, the market is worth $2.04 trillion, down 0.39% from yesterday. The community worries as the market surpasses $2 trillion.

BTC, the biggest crypto by market cap, is struggling. It rose 0.77% in 24 hours to $58,420. Since it failed to overcome these resistance levels, it lost 9.41% last month. Bears dominate the market, hurting bulls.

BTC stays around $58,000. After breaking $63,000 in mid-August, the long consolidation period overshadowed this little increase. Bitcoin financial goods have suffered due to selling pressure.

According to CoinShares, crypto-based financial products lost $305 million last week. Outperforming US GDP data has spurred market bearishness. This data suggests no interest rate cut. Bitcoin products suffered from this market mindset.

Bitcoin outflows of $319 million worried traders and institutions. The Ethereum spot ETF craze ended with $5.7 million outflows. Bearish market sentiment discourages investment.