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☎️ BITCOIN STRUGGLES DESPITE GERMAN TRANSACTIONS

☎️ BITCOIN STRUGGLES DESPITE GERMAN TRANSACTIONS

Day: 09 | Time: 18:00:24 The price of Bitcoin is hovering around $58,000 despite the on-chain transactions of the German government. However, the price resistance levels for BTC remain out of reach. BTC transactions to and from the German government are still ongoing, but the market seems to be reacting speculatively. There are signs of stability after the Bitcoin price crash, but analysts believe that a "catalyst" or significant buying liquidity is needed to surpass the 200-day moving average and recover previous levels.

BTC/USD 1-hour chart. Source: TradingView
BTC/USD chart with RSI data. Source: Rekt Capital/X
BTC/USD chart. Source: Rekt Capital/X
BTC/USD chart. Source: Keith Alan/X

Source: Cointelegraph