Bitcoin

Notable

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rebounds-as-markets-recover-ground/" data-wpel-link="internal">Bitcoin Rebounds as Markets Recover Ground</a> 
<a href="https://en.coin-turk.com/us-debt-ceiling-vote-calms-mays-crypto-storms-bitcoin-reacts/" data-wpel-link="internal">Bitcoin</a>, as markets slowly regained lost ground at the weekly opening, returned to the $62,000 level on June 25. Data from TradingView showed that Bitcoin’s price strength recorded a temporary recovery after the Wall Street opening. Bulls had struggled as the previous day’s drop to a seven-week low of $58,500 led to a series of capitulations. 
<h2 class="p1" style="text-align: justify" id="notable-statements-from-a-famous-figure">Notable Statements from a Famous Figure</h2> 
Bitcoin’s Relative Strength Index (RSI) <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> on 4-hour time frames reached its lowest levels since August 2023; this was also the last time the BTC/USD pair abandoned short-term holder cost bases like <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> support lines. Popular trader Daan Crypto Trades shared the following statements in one of his latest updates on X: 
<blockquote> 
 “The range held where needed. Yesterday was the largest net selling day in Bitcoin in over a year. RSI levels also reached levels not seen in a year.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-365039 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/coinglass-3.webp" alt="" width="1119" height="773"> 
Data from blockchain analysis platform CoinGlass showed that total Bitcoin long liquidations in the futures market on June 24 were just under $150 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-365038 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-gunluk.webp" alt="" width="1154" height="751"> 
Daan Crypto Trades explained that there is a massive liquidity zone at $65,000 and stated: 
<blockquote> 
 “I think this will be a good level to target in the short term and see how the market looks by then.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-365037" src="https://coin-turk.com/wp-content/uploads/2024/06/skew.webp" alt="" width="500" height="536"> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-bitcoin-front">What’s Happening on the Bitcoin Front?</h2> 
Mt. Gox bankruptcy proceedings continue to be a topic of discussion, not for their physical but psychological impact. Trade firm QCP Capital, in a recent update to its Telegram channel subscribers, stated: 
<blockquote> 
 “As markets and prices try to digest what 140,000 Bitcoin means, we think selling pressure will continue. Given how expensive it is to hold responsible positions and option positions for a long time, current Mt Gox creditors are likely unprotected.” 
</blockquote> 
QCP noted that Bitcoin’s price is currently near its 200-day exponential moving average (EMA), which is almost exactly $58,000. The last time the BTC/USD pair traded below this trend line was in October. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-365036 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/rsi-scaled.jpg" alt="" width="2560" height="1760"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rebounds-as-markets-recover-ground/" data-wpel-link="internal">Bitcoin Rebounds as Markets Recover Ground</a></h5>

Bitcoin Rebounds as Markets Recover Ground

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