Live updates: bitcoin drifts back to $62,500, putting damper on hope for two straight up days

Bitcoin traded near $62,500 on Tuesday, failing to sustain upward momentum and dampening hopes for two consecutive days of gains. The cryptocurrency experienced a notable surge on Monday, recovering from a significant crash the previous week, but market sentiment suggests that bearish forces remain dominant. This price action follows a period of volatility in the crypto market, with investors closely monitoring indicators for signs of a sustained recovery. The current trading range indicates a struggle to break past key resistance levels, with many analysts pointing to broader macroeconomic factors influencing investor confidence. The market's reaction to this price consolidation will be crucial in determining the short-term trajectory for Bitcoin and other digital assets.