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Inching up, slamming down. In the aftermath of a particularly brutal correction — one that tanked the price of Bitcoin below its $1 trillion market cap level near $53,500 — market participants have finally buoyed the price back above a major on-chain support level. These price levels at which BTC changed hands become the most concrete support since $11k. However, strong resistance at $60k persists, and failure to clear the psychological barrier may extend BTC’s decline.