After hitting the yearly high at $44,712, #Bitcoin experienced a brief pause in its upward trend, culminating in a correction. Within hours, the leading cryptocurrency fell by 8%, with a trading volume of 13,500 BTC on the hourly chart.

Although the overarching trend remains bullish, buyers need to consolidate above the $42,700-$43,300 seller zone to continue the uptrend, potentially retesting the $43,800 level and the yearly high.1116

The local trend is currently downward, with the asset seemingly poised for further decline.

If Bitcoin's downward trajectory persists, the next targets for sellers could be a retest of the $40,300 level and a test of the psychological threshold of $40,000. Failure to hold this level could signal the onset of a global bearish trend.