Bitcoin Faces Fresh Sell-Off Pressure
Bitcoin (BTC) experienced a drop below $41,700 following the Wall Street open on December 15th, as sell-side pressure impacted BTC price action.
SEC Coinbase Rejection Adds to Bitcoin Weakness
Bitcoin's largest cryptocurrency struggled to hold its ground at $43,000 after a recovery from snap volatility the previous day, as the Securities and Exchange Commission (SEC) rejected major exchange Coinbase's request to revise crypto rules. This news contributed to BTC price weakness.
Analysts Highlight Key Levels to Watch
Traders are closely watching bid support at $41,000, as well as the struggle to flip a key weekly level near $42,500 back to support. These levels will play a crucial role in determining BTC's future price movement.
Additionally, large-volume traders have been increasing their buying activity, indicating a potential bullish signal for Bitcoin.
Investment Disclaimer
It is important to note that this article does not provide investment advice or recommendations. Readers should conduct their own research and exercise caution when making investment decisions.
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