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Bitcoin traded around $63,600 on Tuesday, as prices appear to be consolidating within the $62,000 and $64,700 key levels. On-chain data shows that the consolidation may be due to profit-taking by holders and mild Bitcoin ETF net inflows of $4.5 million, per Farside Investors data.
Bitcoin (BTC) trades around $63,800 on Tuesday, consolidating within the $62,000 and $64,700 key levels. At the same time, on-chain data indicates short-term consolidation due to profit-taking by holders, mild spot BTC Exchange Traded Funds (ETF) inflows, and weakening spot buying pressure.
Monero (XMR), a privacy-centric cryptocurrency, continues to decline on Tuesday after facing rejection for resitance barrier on Monday. On-chain data hints at a bearish sentiment among XMR’s traders as its long-to-short ratio trades below one, suggesting a decline in Monero’s price ahead.
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