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Bitcoin Dips, Bear Market Relief Bounce
Description
Bitcoins recent dip below $80,000, driven by profit-taking from short-term holders, is seen as a relief bounce in a bear market by CryptoQuant. Enflux attributes this to easing oil fears due to Trumps naval op pause, while Glassnode notes Bitcoins reclaim of key levels, signaling early recovery. However, long-term holders are cashing out, and spot demand needs to increase. Prediction markets suggest low odds of hitting $85,000 this week, keeping the rally on a tight leash.
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