Greed

2024

Bitcoin

<ul>
 <li><strong>Bitcoin has shown sharp price declines recording a 10% decline in June 2024.&nbsp;</strong></li>
 <li><strong>The cryptocurrency witnessed a 15.63% reduction in daily trading volume.</strong></li>
</ul>
<p>The leading cryptocurrency, Bitcoin, caused a tumult by sliding back to the $60K level earlier this week. With constant bull-bear combats, the token has failed to reach new highs as expected post-halving. Over the past few months, BTC price has been dallying around the $60K to $70K range.</p>
<p>In the past 24 hours, BTC observed a notable 15.63% decline in daily trading volume and a 0.35% decline to the $60K margin. At the time of writing, Bitcoin was trading at $61,245.</p>
<p>During Asian morning hours, BTC price descended to a one-day low of $60,585 as per CMC <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>. Following this, it recorded modest increases to surpass the $60K level in the latter half of the day.&nbsp;</p>
<p>Moreover, over the last seven days, Bitcoin has shown a 7.90% price decline and hit a 6-week low of $58,402 on June 24. The recent declines have raised bearish sentiments in the market apart from speculations and FUD for the coming months. Amidst the mixed price action, the market <a href="https://thenewscrypto.com/is-the-german-government-behind-bitcoins-recent-dip/" target="_blank" rel="noopener noreferrer nofollow">detected</a> the sales of large amounts of BTC from a wallet address identified as the German government in the past week.&nbsp;</p>
<h3 class="wp-block-heading" id="h-bitcoin-btc-price-over-the-month">Bitcoin (BTC) Price Over the Month</h3>
<p>According to TradingView <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">data</a>, Bitcoin has exhibited a monthly decline of 12.06%. At the beginning of June, it was trading around the <a href="https://thenewscrypto.com/bitcoin-dips-below-70k-amid-market-selloff/" target="_blank" rel="noopener noreferrer nofollow">$68K level</a> after which followed a short bullish run. During that time, it reached a monthly high of $71,979. However, the second half of June witnessed sharp declines as bears took over reaching current trading levels.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdqWmdkdW-59Y5URgT37_dnsGFbDIiUpeGwhSQuaRaAh8sN3k5cXnsP5r_c-tURNo-naz9epfU5wRIC6TZ_70kHqBWETy_IEmk5zSqKkhLA-JSpFACiIsr7tRWVPswBrNmnjoQuWHwZCO29vBYGaUrYMsuE?key=Hty8-DPrHBycgkUl20IJow" alt="">
 </figure>
</div>
<p>While the token’s year-to-date (YTD) still shows a 44.41% increase. The daily RSI stands at 33.73 indicating a strong selling pressure. Connectedly, the Bitcoin Fear and Greed Index also denotes a fear sentiment among investors. Additionally its short-term 9-day MA stands below the 21-day MA highlighting the bearish trend.</p>
<p>However, the token witnessed a significant price pump in May 2024 inching closer to its recent ATH of $73,750. This caused an expectation of finally pricing in the Bitcoin halving in April. Moreover, market analysts have maintained a positive outlook toward BTC prices in the coming months. The token is expected to combat current resistance levels in the coming months.</p>

Are Bitcoin Bears Dominating as BTC Price Declines Further?

목차

TheNewsCrypto

2024년 6월 27일에 게재된 다른 기사

Analyst Bullish on Memecoins PEPE and POPCAT, Predicts Impending Rallies

Hacker Gang Known For Using Bitcoin, Ethereum For Ransom Brings Indonesia To A Grinding Halt: Report

Orbs Heads $300K Seed Investment in Blast Liquidity Market Fenix Finance

XRP can reach $1 in 2024, but a massive challenge remains

Metallica’s X account hacked to pump $METAL token

Fuse and NexusPay Partner to Enhance Crypto Payment Experience

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!