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00:02Bitcoin is approaching a long-term support line near $58,000 that has marked every major bottom
00:09since 2015, according to Fidelity's director of Global Macro. Bitcoin traded near $62,700
00:16as a secondary model indicator reached levels seen during the 2018 and 2022 cycle lows.
00:21The speculative premium that drove Bitcoin above $120,000 has largely disappeared as global money
00:28supply growth slows, and no clear catalyst for a rebound has emerged. However, the analysts stopped
00:33short of calling a bottom and said Bitcoin could remain near support for months. U.S. spot.
00:39Bitcoin ETFs recorded about $197 million in weekly inflows in the week ending July 10th after eight
00:47weeks of outflows. Bitcoin also faces resistance from its former rising channel and key moving
00:52averages. Holding the $58,000 to $60,000 zone remains critical to the accumulation outlook.
00:59For all things money, visit Benzinga.com.
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