The BTC price is still around the support level. It is likely that Bitcoin will fly heavily downwards if it does not make some significant moves.
In short:
Crypto stagnation
The price of the leading cryptocurrency, Bitcoin, has been stagnating for the last 5 days since it dropped from $9,660 on June 24th and currently stands at around $9,000 to $9,100.
At the weekend, the price for 1 BTC fell below $9,000 for the second time in a week, yet the 7-day closing was quite calm. According to a lot of information, the merchants quickly stepped in on 27 June to buy Bitcoin at a discounted price of $8,900.
Bitcoin movements
Najwyżej oceniany zasób cyfrowy na CoinMarketCap z kapitalizacją rynkową w wysokości prawie 168 miliardów dolarów może zostać przypięty poniżej 20-dniowej średniej kroczącej na 9,385 dolarów, a węzeł wysokiego wolumenu VPVR sugeruje, że będzie to trudne wyzwanie dla Bitcoina i jego inwestorów w perspektywie krótkoterminowej.
Last week, Bitcoin’s pace slowed down as trading volumes fell. Despite the weak price share, traders consistently bought all drops below $9,000, and the cryptic growth character remains positive as long as the price remains above the $8,600 support level.
Investor actions
It can be seen that during the weekend the 100-day moving average exceeded 200 days in the daily timeframe, but ultimately risk aversion investors are waiting for better closures exceeding 20-MA in the 9,400 to 9,500 dollar zone.
Last week, Bitcoin’s pace slowed down as trading volumes fell. Despite the weak price share, traders consistently bought all drops below $9,000, and the cryptic growth character remains positive as long as the price remains above the $8,600 support level.
According to CoinMarketCap, BTC’s total market capitalization is currently $259 billion and Bitcoin’s dominance rate is 64.9%. However, given the development of Ethereum and the interest in it by Asian investors, in particular, we can still expect a decline in BTC’s dominance this year.
Opinions of specialists
According to many crypto industry specialists, the current Bitcoin range is $8,500 to $10,000, and if it does not exceed this level in a daily and weekly framework, it will remain within this range. Bitcoin’s coverage is clear, the current support that has lasted for the last 3 weeks is an average price range of $8,500.
Currently, opinions are divided on Bitcoin’s further narrative, but many believe that Bitcoin will be stuck between $6,000 and $10,000 for most of the year. Nevertheless, the long-term upward trend is still valid, due to the weakness of the U.S. dollar, the strong price of gold, will increase the hash-rath by the miners and decrease the pressure on sales by HODLers.
