All Eyes are on $26,000 as Bitcoin’s Momentum Shows Signs of Faltering

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Bitcoin’s price action as of late has greatly favored bears, with bulls being unable to generate any significant momentum This comes just 24 hours following a failed breakout attempt seen by the cryptocurrency that ultimately resulted in it seeing a massive rejection around $34,500 The selling pressure here indicates that bulls may not have enough present strength to reverse the downtrend that began following the break below $40,000 several weeks back This has created headwinds for the entire crypto market, with many altcoins also losing momentum as a result One trader is now watching for a move down towards $26,000 in the near-term, noting that a massive rebound will likely follow this Bitcoin and the entire crypto market have seen some mixed price action as of late, with bulls and bears both being wholly unable to gain a firm grasp of its mid-term trend. Overall, the price action has favored…

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