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Bitcoin Falls Below $106K as Selling Pressure Intensifies

  • Bitcoin's price fell below $106,000 as selling pressure intensified, indicating increased short-term bearish sentiment.
  • Key technical support levels include $103,000, $101,200, and $100,000, with a need to recover above $106,500 for upside momentum.
  • Despite the drop, Bitcoin's 24-hour trading volume rose to $56.11 billion, with a total market cap of $2.09 trillion and circulating supply of 19.87 million coins.
  • Factors to watch include $100K as psychological support, volume trends for possible capitulation, and macro catalysts like rate cuts and regulatory news.

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