Towards the conclusion of August, Bitcoin validated an overextended decline in its monthly stochastic indicator, a warning sign that has historically coincided with market pinnacles.
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'The market appears to be in a period of quiet accumulation, which suggests an undercurrent of demand,' one analyst said.85
One observer stated that the wave of liquidation stemming from the narrative of decreasing inflation has exhausted its impact, and the market is in need of a fresh catalyst and theme to drive prices upward.73
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