Bitcoin Stuck Near $59K-$60K With Risk of Drop Toward $40,000

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Bitcoin has been trading in a narrow range between $59,000 and $60,000 throughout the week. The tight price band resembles a similar consolidation pattern observed earlier in 2024. However, analysts note a key difference: the current pattern is forming below a major support level in a declining market. A decisive breakdown from this range could potentially open the path toward the $40,000 price level.

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