Bitcoin’s (BTC) roof has been shifting lower in the past few days, which is a negative sign because it shows that bears are selling on every minor rally. Bitcoin’s weakness is affecting the major altcoins as most are gradually drifting lower.

Joel Kruger, a Forex strategist at LMAX, recently said:

“It would be foolish to rule out the possibility for a drop back below the June low, and we think there would be a risk in that scenario where the Bitcoin price could revisit the old record…