Bitcoin Closing Beneath One Crucial Level Could Decimate Altcoins

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Bitcoin flashed some subtle signs of weakness yesterday that sent shockwaves throughout the cryptocurrency market This caused many major altcoins to shed a significant amount of their value, putting at least a temporary end to the intense market-wide uptrend seen by Bitcoin’s smaller counterparts The crypto is now once again sitting just above its crucial $9,200 support level Buyers have been able to defend this level throughout the past several hours One analyst is noting that buyers must close BTC’s daily candle above $9,200 He notes that a close beneath this level could lead to massive losses for altcoins Bitcoin has seen mixed price action in recent times but has generally been confined to its long-held trading range between $9,000 and $9,300. It has now broken above the upper boundary of this range on two occasions throughout the past couple of weeks, facing firm rejections both times. Yesterday, Bitcoin began…

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