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Bitcoin Price Prediction as BTC Falls to $16,000 Support – Time to Buy the Dip?

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During the European session, Bitcoin continued to trade sideways, but overall the trading bias remained positive above the triple bottom support area of the $15,800 level.

Digital Currency Group (DCG), a key player in the cryptocurrency sector, announced Monday that it is the parent company of several well-known companies, including Genesis and Grayscale.Genesis is the only full-service prime broker in the cryptocurrency market and has been a treasure in DCG's portfolio.

The company is critical in providing access and risk management to large institutions. When DCG rescued it, it was already in trouble due to the bankruptcy of Three Arrows Capital (3AC).

3AC currently owes the parent company $1.2 billion.Genesis announced last week that it would suspend payments for its Genesis Earn initiative.

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