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Bitcoin price falls below $27000, traders fear resumption of downtrend

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Bitcoin’s price has fallen below $27,000, reversing a morning jump following the release of mildly encouraging U.S. inflation data. The $900 million Bitcoin weekly options expiry on May 12 might play a decisive role in determining whether the price will succumb below $27,000.

Bitcoin Price

Analysts expect Bitcoin to reach the $26,600–$25,000 zone, where buying interest may pick up. However, if Bitcoin’s price starts to recover, it could open buying opportunities in other cryptocurrencies such as BNB, ADA, XMR, and TON.

The correction in Bitcoin has pulled several altcoins lower, but if Bitcoin’s price starts to recover, it could open buying opportunities in other cryptocurrencies such as BNB, ADA, XMR, and TON.

The recent dip in Bitcoin’s price has left many investors wondering if it will ever recover from its recent dip. As the broader cryptocurrency market trades sideways, the fate of the king crypto remains uncertain, leaving traders and investors to ponder how and when it will bounce back

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