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Bitcoin's Price Slips As Excitement From PayPal's Embrace Of Crypto Wears Off

Emily Mason

Summary: Bitcoin has dropped by 1.13% over the past 24 hours and is currently trading hands at $12,953 marking a slip since the recent price rally brought on by PayPal's announcement that account holders will be able to buy, sell and hold cryptocurrencies. Bitcoin’s 24-hour range is between $12,731.06 and $13,192.25. The price decline may have ...

Bitcoin has dropped by 1.13% over the past 24 hours and is currently trading hands at $12,953 marking a slip since the recent price rally brought on by PayPal's announcement that account holders will be able to buy, sell and hold cryptocurrencies.

Bitcoin’s 24-hour range is between $12,731.06 and $13,192.25. The price decline may have been lead by long-term Bitcoin holders selling their coins, market sentiment tracker Santiment reported.

Bitcoin's dormant circulation which tracks Bitcoin which hasn't moved for at least a year recorded the largest spike since February 2020, according to data from Santiment. Bitcoin long-term holders selling their coins could result in greater market volatility.

By Emily Mason

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