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Bitcoin Tests Recovery Levels as Dormant Coins Wake Up on Coinbase
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Bitcoin Tests Recovery Levels as Dormant Coins Wake Up on Coinbase
Key Takeaways Bitcoin defended horizontal support near $62,100 on August 1. The August 2 rebound tested the 50-day SMA near $63,300 before fading. Long-dormant coin inflows increased sharply on Coinbase. Funding remained neutral while CryptoQuant’s miner shutdown indicator rose. Bitcoin’s August 1 decline stopped near the support highlighted in our previous analysis. The horizontal level around $62,100 had already stopped pullbacks on July 9 an…
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