Rangebound: Bitcoin Bulls Need Break Above $7.5K

Bitcoin's (BTC) bulls and bears seem to be stuck in a stalemate, but a decisive session in either direction would likely define the trend going forward.
The cryptocurrency was solidly bid above $7,100 about 24 hours ago, reportedly due to speculation the Wall Street bigwigs (Soros and Rockefeller, for example) are set to enter the crypto markets. However, a long liquidation (unwinding of long bitcoin trades), as reported by WhaleCalls, looks to have pushed BTC to a low of $6,611 overnight.


At the time of writing, the cryptocurrency is sitting at $6,730 on Bitfinex, representing a 6.38 percent drop from the high of $7,189 seen Monday. Despite the retreat, the immediate outlook remains neutral, with bitcoin stuck within a narrowing price range

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