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Analysis: Bitcoin frequently tests the 50-day moving average, indicating a fatigue in its pump.
BlockBeats News, on August 7, some analysts warned that the recent market adjustment indicates the summer lull will continue. Among them, FxPro Chief Market Analyst Alex Kuptsikevich stated in a report on Thursday: "The support gained in the previous peak area indicates that the market is temporarily pausing to lock in profits. However, the market lull is making the most active traders hesitant, and they have now turned to very small projects. On the other hand, Bitcoin is approaching its 50-day MA again. The frequency of testing the mid-term trend signal line indicates that, as the largest crypto asset, Bitcoin has fallen into a state of accumulated fatigue." (CoinDesk)