As Bitcoin dips below key support level, this group makes major moves

The decline in price and the sell-offs from miners have made the next price run of Bitcoin even more crucial.has recently fallen below a key support level that had held for several weeks. Although it has broken past this support line, there is another, less visible support level.

This support was marked by its short-term moving average . It had held steady from about the 16th of May until the 17th of June. This breach indicated a significant shift in Bitcoin’s market behavior.As of the latest update, Bitcoin was trading at approximately $64,380, showing a slight increase. It also closed with a minor gain on the 22nd of June, ending the day at around $64,252.

This high concentration of purchases creates a psychological and technical significance for the price level., between approximately $63,493 and $64,931, is particularly significant due to the high number of addresses involved in transactions at this level. These investors might look to break even on their investments, potentially selling their holdings, which adds selling pressure at this level.

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