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Bitcoin Price Analysis: This Key Level Holds the Fate of BTC’s Bull Run
- Bitcoin's price has been experiencing a massive drop over the past few weeks.
- On the daily chart, Bitcoin is testing the 200-day moving average at around $83K.
- If the 200-day moving average is broken to the downside, a much deeper decline is expected.
- Short-term investors panic-selling Bitcoin at a loss contributes to the market dip and potential further drops.
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