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Bitcoin is leading the market in fresh declines during the European session. The largest cryptocurrency in the world has slipped under $8,000 and seeking support above $7,800. BTC is trading at $7,916 following a 2% loss on the day.

However, a reflex bullish action is likely especially with the cryptocurrency live rates showing a short-term bullish trend. With the RSI being in the oversold, a reversal is very likely.

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