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Bitcoin Share
CryptoIntelligence 2024-03-30 14:49:42

Bitcoin’s Bullish Momentum Falters as Price Corrects to $68,430 Amid Waning Investor Optimism

Bitcoin’s Bullish Momentum Falters as Price Corrects to $68,430 Amid Waning Investor Optimism

Bitcoin‘s price underwent a minor correction, dropping to $68,430 on March 27, after it struggled to surpass the $71,000 mark. This movement comes amidst signs of waning bullish sentiment among professional traders, highlighted by derivatives data. The failure to breach this level raises concerns about the stability of the $69,000 price point. Despite the price rallying from $63,800 to $70,000 in the five days leading to this dip, the Bitcoin futures markets saw a mere $151 million in leveraged short positions liquidated. This cautious stance by bears is noteworthy, especially considering the significant $888 million withdrawal from U.S. Bitcoin spot

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