Bitcoin Breaches $86,000 While Sinking Toward Year’s Lows

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Bitcoin has been trading within a narrow range of $85,000 to $94,000, with investors selling at higher prices, causing a 30% decline from its record high of $126,000.

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Market impact analysis based on bearish sentiment with 84% confidence.

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Bearish
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84%

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The original cryptocurrency has been drifting toward the lower bound of its recent trading range with any increase in the price seen being met by selling from investors who purchased the largest cryptocurrency near the all-time high reached in early October, analysts said. Bitcoin fell as much as 3.7% to $85,171 on Monday, and is down around 30% from its record high of more than $126,000. “We’ve continued to trade this very choppy range between 85k-94k in BTC, with a continued lack of interest and low volumes broadly across crypto markets,” said Bohan Jiang, senior derivatives trader at FalconX.

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