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Bitcoin Bulls Face New Risk as Binance Expresses Concerns over BTC Price Dropping Below $29K

Bitcoin Bulls Face New Risk as Binance Expresses Concerns over BTC Price Dropping Below $29K

– Bitcoin’s short-term price downside is not yet over, according to analysis, despite overall volatility being at historically low levels.

– Concerns over Binance, the largest global exchange, have reignited the downward trend in BTC price.

– Data suggests that BTC price will continue to decline before a modest recovery.

– Traders and analysts predict that the current price behavior is part of a familiar pattern and expect further retracements.

– Some dismiss the panic over Binance’s solvency issues, pointing to user balances as evidence to the contrary.

– Bitcoin’s volatility remains low compared to stocks, bonds, and gold.

– The article concludes by stating that it does not provide investment advice and readers should conduct their own research before making any decisions.

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