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Tag: consolidating

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Bitcoin pinned below $60K — Is BTC consolidating or preparing for more downside?

Institutional spot Bitcoin ETF outflows and lowered Bitcoin miner profitability could be driving the current price drop Bitcoin gained 4.3% between Aug. 16 and Aug. 18 but reversed this gain after failing to sustain levels above $60,000. The price corrected to $58,500 while the S&P 500 index futures and gold approached their all-time highs on Aug.…
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