The world’s largest cryptocurrency by market capitalization is currently trading at $70,706, posting a sharp 3.75% 24-hour loss as broad selling pressure picks up steam across the crypto market. Today’s intraday trading range holds between a session low of $69,292 and a high of $72,120, with price action hovering near the lower bound of the range as of this writing. Market analysts are calling for continued bearish momentum in the near term, with an 80% confidence level backing this bearish prediction. Traders are watching for a confirmed break below the $69,292 support level to confirm extended downside moves, while a sustained climb above $72,120 would invalidate the current bearish market thesis.
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