This Indicator Suggests Bitcoin is Slowly Reaching Overheated Levels as Rally Slows

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Bitcoin and the entire cryptocurrency market have been caught within a firm uptrend as of late, but it has transformed into consolidation throughout the past couple of days BTC and its smaller counterparts are all trading sideways, with bears trying to gain an edge over bulls as they slowly push the cryptocurrency lower Where the market trends in the near-term should depend largely, if not entirely, on whether or not BTC can surmount $40,000 once again The selling pressure above this level has been quite intense, but bulls have also been able to establish support just below this level One trader, however, believes that on-chain data indicates Bitcoin’s rally is rapidly becoming over-heated Bitcoin and the entire crypto market have struggled to gain any massive momentum throughout the past few days. BTC has been consolidating around $40,000 and is currently in the process of dipping below this level as bulls…

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