The cryptocurrency market experienced a dramatic shake-up last week as Bitcoin (BTC) prices plunged below $53,000 amidst a $400 billion sell-off. This significant market movement came as Bitcoin dropped beneath its 200-day moving average for the first time in ten months. However, according to a new report from Bitfinex, there are signs that Bitcoin might have reached a local bottom, suggesting that the current market conditions could stabilize in the near future.·
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