Bitcoin Posts Massive Overnight Rebound, But Bulls Aren’t in the Clear Yet

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It has been a wild past 24 hours for Bitcoin, with the benchmark cryptocurrency seeing one of the most intense selloffs it has seen in quite some time yesterday Following a slow grind lower that had taken place throughout the past few days, BTC eventually saw a capitulatory selloff that sent its price plunging to lows of nearly $28,000 At this point, many investors were clearly panic selling, as funding for short positions rocketing and long-sided liquidation began stacking However, this happened to mark the bottom, as BTC has since seen a massive rebound from these lows One analyst is noting that there’s still a crucial level that needs to be firmly broken above before BTC can see a continuation of its uptrend Bitcoin and the entire cryptocurrency market have been caught in the throes of some wild volatility throughout the past few days. Fortunately for bulls, BTC’s overnight rebound…

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