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27 July 2021

Bitcoin sees second-longest bull market drawdown with BTC price 'stuck' at $30K

Bitcoin sees second-longest bull market drawdown with BTC price 'stuck' at $30K


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Bitcoin sees second-longest bull market drawdown with BTC price 'stuck' at $30K.

In a series of tweets on July 17, analytics service Ecoinometrics revealed that this year's descent from all-time highs is the second-longest in Bitcoin bull market history.

Back then, BTC/USD reached a price floor 69% below its previous all-time high, meaning that the current market setup could also permit levels below $30,000 and still remain within historical norms.

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cointelegraph.com
Market data feeds provided by cryptocompare.com
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