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Bitcoin (BTC) experienced a 0.25% decline on Monday. Bitcoin finished the day at $23,502, partially erasing a 1.65% rise from the previous day. Bitcoin fell shy of the $24,000 mark for the third day in a row following the negative session.

After a turbulent morning, Bitcoin surged to a peak of $23,891 in the middle of the afternoon. Before going backward, Bitcoin passed through the First Significant Resistance Level (R1), which is located at $23,795. Bitcoin fell to a late low of $23,131 following the turnaround. Before finishing the day at $23,502, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,205.

Fed Concern and Regulation Risk Anxiety Drive Bitcoin Away less than $24,000

As investors processed the G20 news and post-G20 remarks that offered investors a preview of what to anticipate, regulatory risk worries resurfaced on Monday. Although the G20 refrained from openly banning it, the discussion of enacting stringent regulation measures breeds doubt.

A Forbes story on Binance moving $1.8 billion of user assets to hedge funds on Monday challenged mood amid intense regulatory and legislator examination. CZ, the Founder of Binance, had not yet commented on the story as of the time of writing.

US economic indexes and the NASDAQ Composite Index briefly eased the afternoon session. In January, core durable goods sales in the US rose by 0.7%, correcting a 0.4% drop in December.

Analysts predict a 0.1% increase. Goods Purchases Non-Defense Ex Aviation, the Fed's favored measure, rose by 0.8%, correcting a 0.3% decline from December.

The most recent statistics, however, backed a more active Fed interest rate track to bring inflation back to the goal range. The NASDAQ composite Index increased by 0.63% on Monday thanks to assistance from decline purchasers. This morning, the NASDAQ mini gained 10.75 points.

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