$BTC updates!
Bitcoin is struggling to stay above $60,000, and a drop to $52,000 is possible due to macro events and market-wide panic.
The cryptocurrency has fallen below the 200-day simple moving average, and the rising leverage ratio and open interest are concerning.
The Fibonacci retracement level is at $56,000, which has already been tested as support in early July.
A deeper retracement cannot be ruled out, but some analysts believe the bottom is near.
DYOR
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