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📉 $BTC is losing ground
Galaxy's head of research stated that $BTC current weakness may not be coincidental. He estimates that the price could fall to the 200-week moving average, around $58,000, in the coming weeks or months.
🧐 Reasons:
▪️ 46% of the total $BTC supply is currently in the red
▪️ Bitcoin has failed to move in unison with gold and silver, losing its status as a reliable hedge against devaluation