Bitcoin

Just as it started to near back the critical threshold of $26,000, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) experienced a sharp decline to below $25,000, raising concerns that it could drop further amid a stream of <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> attacks against participants in the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a>.However, the current slip could just be temporary and indicate a strong rebound in the future, particularly when taking into account the monthly 50 simple <a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">moving average</a> (SMA) and <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart patterns</a> that the maiden <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> demonstrated in 2015, as pointed out by the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> analyst Trader Tardigrade in a <a href="https://twitter.com/TATrader_Alan/status/1669132205820612611" rel="noopener noreferrer nofollow">tweet</a> on June 15.According to the expert, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> could just be taking its “final step before skyrocketing,” which is a “retest on a double top <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">support</a>” – a similar pattern from 2015 that had subsequently led to a major <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> run that saw Bitcoin rise from around $300 in November 2015 to nearly $700 in June 2016 or more than 133%.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/44fe46b93727404699787592c235686e.jpg" />Bitcoin price action analysis. Source: <a href="https://twitter.com/TATrader_Alan/status/1669132205820612611" rel="noopener noreferrer nofollow">Trader Tardigrade</a>Earlier, Trader Tardigrade shared a chart that, according to the analyst’s expectations, demonstrated another bullish sign, highlighting that “Bitcoin monthly 50 SMA shows a possible nice retest and then boom to [all-time high (ATH)] again.”At the same time, another pseudonymous crypto analyst, el_crypto_prof a.k.a. Moustache, <a href="https://finbold.com/bitcoin-repeats-pattern-from-2016-suggesting-mega-bull-run-on-the-horizon/" rel="noopener noreferrer nofollow">observed</a> that Bitcoin was repeating the same pattern from 2016, right before a “mega bull run” that saw the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset soar 3,200%.<h2 id="header-0">Bitcoin price analysis</h2>Presently, Bitcoin is changing hands at the price of $24,862 as it records a 4.14% decline in the last 24 hours, dropping 5.96% across the previous seven days and losing 8.58% to its price on its monthly chart, as per the latest data retrieved by Finbold on June 15.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0186362f162541059f4fff7acebff003.png" />Bitcoin 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Meanwhile, popular <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert Ali Martinez <a href="https://finbold.com/bitcoin-on-thin-ice-as-btc-faces-frosty-resistance-at-26k/" rel="noopener noreferrer nofollow">stressed</a> that Bitcoin was sitting “on thin ice,” with 1.34 million <a href="https://finbold.com/guide/crypto-wallets/" rel="noopener noreferrer nofollow">crypto wallets</a> holding 450,000 BTC in the support zone between $22,785 and $23,595, above which Bitcoin had to remain to prevent a further slip to the downside, as Finbold reported on June 14.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>

Bitcoin plunges below $25k; What’s next for BTC price?

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