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Bitcoin price eyes 'relief rally' to $61K after downside liquidation wipeout

Bitcoin’s downward price action led to another round of liquidations, with over $78 million over the past 24 hours. 

Bitcoin’s (BTC) price has witnessed a sharp correction at the start of each month in Q3 2024. The first seven days of July and August saw a drawdown of 12.56% and 15.94%, respectively.

Bitcoin marketcap 1-day chart. Source: Trading View

September is following a similar tone, but it is important to note that Bitcoin also recovered swiftly to form lower highs (LH) in the following weeks.

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Bitcoin’s downward price action led to another round of liquidations, with over $78 million over the past 24 hours. 
Bitcoin’s (BTC) price has witnessed a sharp correction at the start of each month in Q3 2024. The first seven days of July and August saw a drawdown of 12.56% and 15.94%, respectively. Bitcoin marketcap 1-day chart. Source: Trading ViewSeptember is following a similar tone, but it is important to note that Bitcoin also recovered swiftly to form lower highs (LH) in the following weeks.Read more  

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