BTC Drops Back Below $67,000

IconCryptoNewsTerminal Staff27 Jul, 2024

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BTC Drops Back Below $67,000

Bitcoin (BTC) has fallen back below $67,000, according to data from Cryptonewsterminal. The leading cryptocurrency is currently trading at $66,932.08 on the Binance USDT market. This latest dip comes after BTC briefly touched $68,000 earlier this week. However, the bulls failed to sustain the momentum, and the bears have since taken control. The drop in BTC price is likely due to a combination of factors, including profit-taking and uncertainty over the regulatory landscape. Some analysts also believe that the market is overbought and due for a correction. Despite the recent pullback, BTC remains up more than 100% year-to-date. The long-term bullish trend remains intact, and many analysts believe that BTC will eventually reach new all-time highs.

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