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Bitcoin has fallen back below the $80,000 level, failing to maintain gains above this barrier due to weak demand from American investors. Flows into spot Bitcoin funds have fluctuated despite the asset's price increasing by 21% since August 19th, reaching around $77,900. Although there has been significant inflow into these funds, the market continues to show weakness in American demand, driven by expectations of rising interest rates and increasing inflation risks, which diminish the appeal of high-risk assets. Bitcoin is expected to face resistance between $83,000 and $86,000, with potential profit-taking by long-term holders amid declining demand levels and some investors closing short positions.
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