Bitcoin has struggled to recover from its range-low and has been closing daily candlestick sessions below $30k, reinforcing bears' increasing leverage. The US Dollar Index has edged higher, going in the opposite direction to BTC's price action, resulting in about 5% losses for BTC over the week. Long-term BTC holders have accumulated more during the latest price consolidation, despite the threat of a bearish breakout. Investors should keep an eye on next week's Fed rate hike decision to confirm whether the bearish pressure will fall or not.
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