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Bitcoin's Uncertain Price Action Leaves Traders and Analysts Undecided About Next Moves

Bitcoin's price remains stagnant, leaving traders and analysts uncertain about its future direction. Despite some bullish predictions, there are also many downside price projections. The upcoming week lacks significant macroeconomic data, with the focus on the Federal Reserve. Bitcoin mining difficulty is expected to decrease by 2.4% in its upcoming automated readjustment on September 5th.

This decrease may be due to a drop in BTC stockpile among miners, which could lead to additional stress if Bitcoin's price continues to decline. Additionally, a significant portion of Bitcoin's supply is held by long-term holders, with over 40% of currently mined supply dormant for three years or more.

Bitcoin Bitcoin $97,431.90
+2.44%
Bitcoin Federal Reserve
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