Bitcoin Price Claws Back Above $7,000 with Further Gains Likely

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It has been a mixed 24 hours in the cryptocurrency segment, as although the overall picture remained bearish, a concerted move lower has been averted. All eyes were on Bitcoin, Ethereum, and Ripple as BTC dipped to a marginal 3-week low, while ETH and XRP tried to hold up above key long-term support levels.

On a positive note, Bitcoin bounce back quickly above the weekend low, and Ethereum also managed to remain north of $400, but Ripple dipped below the support zone near $0.42, triggering a long-term sell signal. Other major movers today are IOTA and Ethereum Classic, with the former falling 10%, below key long-term support like XRP, and ETC surging higher by more than 10%.

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