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via CoinDesk · By CoinDesk Staff

Purge of millions of crypto tokens underway, BTC needs it for sustainable bull cycle: Ben Cowen

BTC

BTC/USDT

$65,192.72

+1.20%

$65,192.72

+1.20%

(24s)

24h Volume

$6,915,396,936.12

24h H/L

$65,577.00 / $64,293.81

Change: $1,283.19 (2.00%)

Long/Short

62.1%

Long: 62.1%Short: 37.9%

Funding Rate

+0.0038%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$65,354.10

▲ 1.52%

Volume (24h): -

Resistance Levels

Resistance 3$72,756.77

Resistance 2$70,467.59

Resistance 1$66,379.48

Price$65,354.10

Support 1$64,335.08

Support 2$63,259.52

Support 3$61,824.97

Pivot (PP):$64,220.09

Trend:Uptrend

RSI (14):54.9

CoinDesk Staff

(11:29 AM UTC)

1 min read

Verified byMichael Roberts

980 views

0 comments

Researcher and market analyst Ben Cowen says the purge of millions of altcoins is already underway and is necessary for a sustainable bitcoin bull market to be in place.

The urgent need for a “mass extinction” of “junk coins” from the crypto market is not at all a new topic. Cardano Founder Charles Hoskinson and Ethereum co-founder Vitalik Buterin predicted that over 90% of the initial coin…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Source

CoinDesk Staff · CoinDesk

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