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Crypto

Bitcoin Price Prediction Slips as Demand Weakens Near $78K

Guavy AI Editorial Team
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BTC
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Bitcoin's recent price action has been weak following its strong rally in August. According to TradingView data, BTC remained above short-term averages but struggled below nearby resistance near $78,000.

The slowdown mattered because Bitcoin entered September after gaining about 25% during August, marking its best performance in a year, according to Coinbase.

However, weaker spot absorption and uneven exchange-traded fund flows left the rally exposed to renewed selling. CryptoQuant data showed that 663,215 BTC were classified under profit-taking investor behavior, while another 324,767 BTC sat within the loss-seller cohort.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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