Bitcoin faced a strong rejection at the resistance level between $92,200 and $92,600, resulting in a significant drop in price. This decline occurred because the U.S. government announced that it would not purchase new Bitcoin for its strategic reserve. Now, we need to see if Bitcoin can break through the resistance zone of $89,500 to $90,000 in order to trigger some bullish momentum. On the downside, the support levels are between $83,200 and $83,800.
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