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

Table of Contents

COINTURK NEWS

دیگر آرٹیکلز 25 جون، 2024 پر پبلش کیے گئے ہیں

Shardeum Launches Stage 1 of Incentivized Testnet as a Call to Action for Community Engagement (2...

Investors Face Increasing Threats in Solana Network

Bitcoin Price Forecast: Three Strong Indicators Urge Buying As Experts Predict A 100% Rally Ahead

Leading DeFi derivatives protocol, SynFutures, crosses $100 billion in cumulative trading volume ...

Flow (FLOW) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Analysts Eye Bitcoin’s Recent Performance

Join our free newsletter for daily crypto updates!