The cryptocurrency market is facing a downturn with a risk of Bitcoin's value dropping to the $60,000-$61,000 range shortly.

Bitcoin is currently in a falling wedge pattern, which could lead to a 20% increase in price if a breakout happens.

Medium-sized Bitcoin holders are actively purchasing more, suggesting a move towards portfolio diversification or cost reduction strategies.

Hong Kong is actively working to improve the liquidity and stability of Bitcoin and Ethereum ETFs, with significant initiatives including liquidity provision by Wintermute and a HK$1 billion liquidity fund.

Technical analysis indicates that Bitcoin is currently in a bearish trend with immediate support and resistance levels identified at $59,164 and $64,564 respectively.

The 99Bitcoins presale is offering an opportunity for investors to buy into a token at a low price, with premium content and staking options, and is nearing its next pricing stage goal.

Market sentiment can be gauged by Open Interest and funding rates, with current indicators showing a bullish outlook despite overall market decline.

Investors are advised to exercise caution due to the volatile nature of cryptocurrencies, even though market prospects appear promising for future growth.