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Bitcoin (BTC) stands firm at $93,257, a crucial support level that could determine its next major move. As the battle between bulls and bears intensifies, the stakes are high: a successful defense could spark renewed momentum, while a break below might trigger significant losses. As the market navigates this pivotal moment, this article aims to analyze BTC’s current position at the critical $93,257 support level, exploring the factors influencing its price movement. By examining key technical indicators and market dynamics, the goal is to assess whether the bulls can defend this level and potentially drive a rebound or if a break below could cause deeper losses.
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Bitcoin has just crossed a major milestone, hitting a record-breaking price of $80,000, driven by renewed optimism in the U.S. and beyond. Following the recent re-election of Donald Trump, a known proponent of cryptocurrencies, Bitcoin’s value surged as confidence in crypto markets soared. Here’s how Trump’s win, his pro-Bitcoin policies, and his pledge to make the U.S. a crypto powerhouse contributed to this unprecedented rise.
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The price of Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, has recently come under a lot of selling pressure, dropping over 6.1% in the past 24 hours. Right now, SHIB is trading at $0.0000164, which is close to the low it hit in late October. This is a big deal because its breaking below its 50-day moving average on the daily price chart and dropping below this band, which is a key indicator for traders looking to gauge short-term trends, has caught the attention of investors. This level had not been breached since June, so this is the first dip below it in five months.
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Michael Saylor, a co-founder and currently the executive chairman of MicroStrategy business software giant, has shared a regular Bitcoin-themed tweet with the cryptocurrency community.
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