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Analysts warn of a prolonged summer decline in the market

According to BlockBeats, recent market corrections have prompted warnings from analysts about a prolonged summer decline. FxPro’s chief market analyst, Alex Kuptsikevich, noted in a report on Thursday that support at previous peak levels indicates a temporary pause in the market for profit-taking. However, the decline is demotivating the most active traders, who are now focusing on smaller projects.

Bitcoin is approaching its 50-day moving average again, with frequent tests of this medium-term trend signal, indicating that the leading cryptocurrency is experiencing accumulated fatigue.