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Bitcoin faces 'endless spot selling' as BTC price dips below $28.7K
Bitcoin fell below $28,700 after the Aug. 7 Wall Street open as “endless spot selling” drove BTC price action lower. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning nearer to its August lows after a shaky weekly close. The start of United States trading offered no signs of relief for bulls after a weekend of sideways behavior, with traders and analysts already predicting a downward outcome once the impasse broke. Commenting on the situation, popular trader Daan Crypto Trades noted that derivatives trading at a premium over spot placed bulls in an even less advantageous position. ... (full story)