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Bitcoin Currently Consolidating After Dropping Towards $7,700, But a Strong Bounce May Be Imminent

Bitcoin and the entire crypto markets have faced increased selling pressure today after experiencing a short bout of sideways trading as BTC struggled to decisively move into the $8,000 region.

Although today’s drop has slightly shifted the overall market sentiment for the worse, analysts are now noting that Bitcoin may be nearing a price at which it garners significant buying pressure that allows it to surge higher.

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