Bitcoin Near $64,000 as Drawdown From October High Tops 24%
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Bitcoin traded near $64,000, extending its drawdown from the October high past 24% after a Nov. 12 break below $72,000 deepened the slide. The move matters because it marks one of the sharper retracements of the cycle and tests whether dip buyers will step in around the $64,000 level. A comparison to a SpaceX IPO is being cited as a bullish scenario, though it is not proof that selling is nearly over. Traders will watch whether bitcoin can hold current levels or confirm a deeper correction.
Muhabbit's AI wrote this summary in its own words from The Defiant's report. It can get details wrong, so check the source.
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