Bitcoin Reclaims Key Support Level After Drop to $34,500

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Bitcoin faced an extreme correction earlier today. Over the span of 12 hours, the cryptocurrency plunged from the $41,000 region to lows on spot exchanges close to $34,000 and lows on futures exchanges close to $35,000. BTC lost over 15% over the span of this rally. The cryptocurrency has since bounced swiftly to the upside, reclaiming a key support level per analysts. Bitcoin Reclaims Key Support Level After Flash Crash Lower Bitcoin faced an extreme correction earlier today. Over the span of 12 hours, the cryptocurrency plunged from the $41,000 region to lows on spot exchanges close to $34,000. The cryptocurrency lost over 15% over the span of this rally. Many thought this was the start of a larger correction. Even when the cryptocurrency was near lows, the funding rates and premiums seen on futures exchanges for BTC were extremely high, implying a continuation to the downside was becoming increasingly…

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