Bitcoin positions itself for a rally above $80,000 after Strategy's $2 billion BTC buy, crumbling investor confidence in the US Treasury and a potential US-Iran deal.
Key takeaways:
Bitcoin (BTC) faced a rejection following a failed attempt to break above $82,000 on Thursday. A subsequent retest of the $76,000 level on Monday triggered $400 million in liquidations for bullish Bitcoin positions over a four-day period. While tradersโ confidence took a hit from the 7% price decline, the prospects for recovering the $80,000 mark remain valid.
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