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Bitcoin eyes $58K CME gap next as 8% BTC price rout sees longs ‘rekt’

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<div>Bitcoin eyes K CME gap next as 8% BTC price rout sees longs 'rekt'</div>
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Source: Coin Telegraph

BTC price weakness takes the market below $59,000 for the first time since mid-July as “relentless” Bitcoin selling pressure persists.

Bitcoin (BTC) analysis now expects BTC price action to target $58,000 next as long positions get “rekt.”

Data from Cointelegraph Markets Pro and TradingView shows ongoing sell-side pressure forcing BTC/USD to three-week lows.

As a grim weekend sets up an equally grim weekly candle close, market participants warn that Bitcoin bulls may face more pain into next week.

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Author: William Suberg

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