Bitcoin is experiencing selling pressure due to a surge in gas fees, resulting in a 2% drop in price to $27,652 and a market cap of $535 billion. A head and shoulders pattern on the technical chart could push the price to $24,000 as the next support level. Active addresses have decreased significantly, but BTC supply at exchanges is at its lowest since 2017, indicating increased interest in self-custody. Overall, there is an analysis of the situation and the price of Bitcoin has dropped.
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