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Bitcoin Slips Back Towards $79K as Rally Hits Wall at $81K

Guavy AI Editorial Team
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BTC
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Bitcoin's explosive rebound ran into resistance above $81,000, causing the cryptocurrency to slip back towards $79,000. On Tuesday, Bitcoin reached an intraday high of $81,265, its strongest level in three months.

The rally stalled after a rapid move fueled partly by forced short covering. Analysts are now testing whether the recovery has enough genuine buying behind it.

FOREX.com market analyst David Scutt warned that repeated failed breakouts were becoming difficult to dismiss.

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