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Analysis: Bitcoins Faces a "Crucial Moment" After Pulling Back from $74,000; Buying Pressure Remains Strong, but Short-Term Downside Risks Persist
Svmuu News Bitcoin Following the pullback from the local high of $74,000, uncertainty regarding the market’s future direction has increased. The market currently appears to be at a “critical juncture,” and it is expected that we will soon see whether the breakout can continue.On-chain analyst exitpump disclosed data showing that spot buying on Binance remains strong, with no significant imbalance in the order book and improved long-term conditions;However, some analysts hold a bearish stance, noting that recent trading volume has been weak and divergence has formed at the high point. They believe the current rebound may merely be a retest of previous support-turned-resistance levels, and expect Bitcoin to potentially decline further in the short term.CoinGlass data shows that the price of Bitcoin has broken through the buying liquidity zone near $71,000, and the next move may draw market attention. (Cointelegraph)
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