BTC's Dormancy Flow Hits New Low; Optimism Loses 20M Tokens in Interlayer Confusion
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On Wednesday, the broader crypto market resumed its sideways movement. BTC has managed to defend the $30k key psychological level despite marginal price changes over the last 24 hours. The largest cryptocurrency by market cap seems to be stagnating in the midst of its month-long range, but not without a few positive signs. A major contracting triangle is forming with resistance near the $31.2k level on BTC's hourly chart, suggesting that BTC could be building some strength for a stronger breakout.