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Bitcoin heads lower with RSI indicating selling conditions
Bitcoin ended the week with a loss of $3,678.61, down 4.51% from the previous week. The asset is currently positioned above its weekly MA-20 ($75,038.11), below the MA-50 ($94,043.29), and remains safely above the MA-200 ($61,372.65), showing medium-term resistance and strong longer-term support. Spot Bitcoin ETFs in the U.S. saw significant net outflows, with as much as $648 million to $1 billion withdrawn in a single day, breaking a prior six-week streak of inflows. The ETF outflows are occurring alongside macroeconomic headwinds, such as higher U.S. inflation and rising Treasury yields, putting pressure on ... (full story)
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