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Bitcoin rebound loses steam, prediction market bets favor drop to $55,000

Bitcoin rebounded to $65,000 overnight but the rise did not last and it later retreated, a report said. Despite macro factors seen as supportive for risk assets, bitcoin failed to hold above the 50-day exponential moving average and a dead cross persisted. Other indicators leaned bearish, while a squeeze momentum signal suggested a large move could be near without indicating direction. On Myriad, odds favored a drop to $55,000 over a rise to $84,000.