$BTC & Crypto Market Technical Analysis:
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Bitcoin’s recent bearish trend has led to a spot sell-off, resulting in loss of momentum.
A crucial support level is nearing, estimated between $62,100 and $61,500.
Should Bitcoin find support here, it could consolidate, offering an opportunity to explore strong altcoins.
However, failure to gain momentum may lead to a drop to the next support levels around $59,000 or $58,000.
Most altcoins lack strength, except for a few like BONK , OMNI , WLD , and SSV.
It’s advisable to wait for solid bounce confirmation or support level hold before considering trades.
Certain cryptos with low funding rates, such as BLUR and STG, hold potential, while others like SOLAR and POWER Ledger could see gains under specific conditions, despite their questionable reputation.
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