2.6 Friday Night Bitcoin / Ethereum Silk Road The Federal Reserve's hawkish stance and a pullback in the US stock market, combined with profit-taking and exit strategies, have led to a deep decline in Bitcoin, which directly broke through the key support level of 64,000, with the lowest dropping to around 59,800. Technically, the 7-day and 30-day moving averages have formed a death cross and are trending downward. The price is being suppressed by the moving averages. Today's rebound from low levels is just a weak correction after a sharp decline. The candlestick pattern also shows long bearish
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