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3 convincing signs the Bitcoin bears have stopped selling

Published 05/26/2021, 11:03 AM
Updated 05/26/2021, 12:40 PM
3 convincing signs the Bitcoin bears have stopped selling
BTC/USD
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The price of Bitcoin surged higher on May 26, breaching the $40,000 level for the first time in five days as traders brushed aside concerns about China's crypto ban and the United States' crypto tax proposal.

The benchmark cryptocurrency reached an intraday high of $40,855 before turning lower owing to profit-taking sentiment.

Bitcoin briefly closed above 200-day SMA. Source: TradingView
Previous 1-month low of 6,356.643 was observed on May 25. Source: Glassnode Alerts
Bitcoin bearish sentiment seems to be exhausting as the NVT signal drops to March 2020 low. Source: Glassnode Alerts

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