Yesterday Bitcoin experienced two waves of declines, from a maximum of about $71,500 to a minimum of $66,000, since March 20, the two moving averages of MA50 and MA200 have become very close, and yesterday did not touch the MA200 moving average, which is at $67,400. The short-term speculative leverage in the Bitcoin futures market has basically been cleaned up, especially in response to the two short-term declines of Bitcoin bulls, which have suffered large losses and made those who were previously actively building long positions cautious.

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