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Bitcoin has undergone a strong drop since its $12,500 highs set in August. The coin now trades for $10,500, having dropped as low as $9,800 just a few weeks ago. Bitcoin is currently consolidating between $10,000 and $11,000, barely deviating from this range. Some fear that this price action is a precursor to another capitulation event, as seen in late 2018. One on-chain analyst asserts that this is not the case: he says that Bitcoin
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