Bitcoin is trading near $26.4K, down 1.5% in 24 hours, a level that has acted as support over the past three months. On Wednesday, the price reversed as it approached its 50-day moving average. This was triggered by a sell-off in the Nasdaq 100, which lost 1.75% on the day. The technical picture remains quite bearish, with Bitcoin remaining within a two-month downtrend channel, setting up an imminent drop towards $25K to test more significant support.
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