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  • Bitcoin price slips  below $40,000 as it dropped roughly 40% from its all-time high at $64,895.
  • This nosedive has pushed BTC below the 200-day SMA at $39,818, which is a bearish sign from a macro perspective.
  • Ethereum price followed the flagship crypto as it slid below $3,000 after a 35% downswing from its record high at $4,380.

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