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Is Bitcoin Price Heading to $55K? New Whales Emerge as Short-Term Holders Offload BTC

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This week, Bitcoin price exhibited significant volatility, oscillating around the crucial $60,000 psychological mark. On Sunday, the BTC price surged by 1.3%, buoyed by robust demand liquidity at the 100-day EMA, which acted as dynamic support. Despite this uptick, the short-term outlook remains bearish, characterized by a falling wedge pattern on the daily chart. The persistent pressure from the overhead trendline continues to drive the asset’s downward trajectory.

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