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134 days

Bitcoin could crash below key support level as resilience seems short-lived - MarketWatch

1. BTCUSD fell to $74,436, its lowest level since November 7. 2. Bitcoin is down 27.8% from its record high of $109,225 in January. 3. Key support level is at $73,745; a break could see BTCUSD drop to $55,000-$57,000. 4. High VIX at 48.4 indicates volatility, impacting digital asset investments. 5. Trading volume is down 45% from November averages, signaling low trader activity.

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FAQ

Why Bearish?

The breach of the key support level at $73,745 could lead to significant declines, similar to past support break scenarios.

How important is it?

The significant drop and potential support break could lead to aggressive selling, influencing traders' decisions and overall market sentiment.

Why Short Term?

Immediate volatility is expected in the coming weeks due to market conditions and trader sentiment.

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