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via Cointelegraph · By Cointelegraph Staff
Bitcoin Dip Marks Distribution But BTC May Avoid New Bottom
BTC
BTC/USDT
$79,856.01
+0.19%
$79,856.01
+0.19%
(24s)24h Volume
$6,064,843,950.61
24h H/L
$80,200.00 / $79,442.00
Change: $758.00 (0.95%)
Long/Short
52.8%
Long: 52.8%Short: 47.2%
Funding Rate
+0.0010%
Longs pay
Data provided by COINOTAG DATALive data
CS
Cointelegraph Staff(08:42 PM UTC)
1 min read
Bitcoin's drop below $73,000 on Wednesday marks a short-term turning point for the market, as multiple BTC distribution signals point toward rising sell-side pressure.
While the increasing chance of a correction into the $60,000 to $70,000 range remains in play, long-term holder data points to improving investor sentiment, suggesting that traders view the current price as a buying…
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