Bitcoin Reaches a “Bounce or Die” Level as Bulls Lose Their Footing

After a day-long period of consolidation within the lower-$6,000 region, bulls have once again lost their footing, with bears catalyzing a break below the support that had been established at $6,000.
This has led analysts to note that Bitcoin is fast approaching a “bounce or die” level that buyers must defend, or else the benchmark cryptocurrency could once again find itself caught within a capitulatory downturn that leads it to decline back towards its recently established lows.
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