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- Category: Bitcoin
- Published: Saturday, 10 July 2021 22:33
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Analysts say Bitcoin’s choppy price action is ‘typical of low liquidity markets’
Bitcoin bulls pushed the price back above $34,000 but analysts warn that a variety of bearish factors remain a threat in the short term.
Analysts say Bitcoin’s choppy price action is ‘typical of low liquidity markets’MARKET UPDATE
On July 9 Bitcoin and the wider cryptocurrency market saw a moderate relief rally that helped recover some of the losses seen on Thursday but a handful of analysts continue to caution that BTC could still drop to the $24,000 to $29,000 range in the short-term.
Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin was bid higher during the morning trading hours on Friday and managed to climb back above $34,100.
BTC/USDT daily chart. Source: TradingView
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