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Bitcoin was recently trading at about $26,440, off roughly 3% over the past 24 hours and near its lowest level since May 12 when the largest cryptocurrency by market capitalization dipped below $26,000. In this period, BTC has been slogging through low trading volume and volatility as markets wrestle with the prospect of a U.S. government unable to pay its debts and ongoing crypto regulatory and macroeconomic uncertainties. Until Wednesday, bitcoin had remained in a $26,500 to $27,500 range.
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