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The Crypto Markets Are Stuck in a Narrow Consolidation Range

The Crypto Markets Are Stuck in a Narrow Consolidation Range

Bitcoin daily candlestick chart. Source: FxPro

Bitcoin has fallen back below $67,000, failing to build on its gains as it comes under pressure alongside tech giants on Wall Street. While the first cryptocurrency remains well above the lows it rebounded from on Tuesday, it is slowly sliding down and has given up almost half of that rebound.

Crypto News

The value of USDT stablecoin reserves held by exchanges has fallen from $60 billion to $51.1 billion over the past two months. CryptoQuant warns that a drop below $50 billion will trigger a massive sell-off in the crypto market.

Meanwhile, Wikipedia co-founder Jimmy Wales has suggested that the price of the first cryptocurrency will collapse to $10,000 by the middle of the century. In his…

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