BTC Falls Back Below $64,000

IconCryptoNewsTerminal Staff02 Aug, 2024

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BTC Falls Back Below $64,000

Bitcoin (BTC) has fallen back below $64,000 after facing a strong resistance at the $64,500 level. According to Cryptonewsterminal market monitoring, BTC is currently trading at $63,991.12 on the Binance USDT market. The recent drop in BTC's price is likely due to a combination of factors, including profit-taking by some investors and concerns about regulatory crackdowns in China. Despite the recent pullback, BTC remains up over 50% year-to-date and is still well above its all-time high of $64,895.22, which was reached in April. Analysts remain cautiously optimistic about BTC's long-term prospects. Many believe that the recent pullback is a healthy correction and that BTC is still on track to reach new highs in the coming months.

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