Bitcoin cannot seem to catch a break from the rain of bearish blows as the benchmark cryptocurrency slumped to the $34,300 low.

The bearish momentum comes as investors flee risky assets, like Bitcoin , for their safe-haven counterparts. This investor migration can be seen in the increased offloading of holding by BTC whales, according to a CryptoQuant report.

That said, a bearish push to the sub-$34,000 region in the coming days is increasingly likely, as bulls lose all foothold. This decline would align with my descending trendline on the 4-hour chart.

Meanwhile, my resistance levels are at $36,000, $37,000, and $38,000, and my key support levels are at $34,000, $33,000, and $32,000.

Total Market Capitalization: $1.58 trillion

Bitcoin Market Capitalization: $654.8 billion

Bitcoin Dominance: 41.5%

Market Rank: #1