With hours to go until the weekly close, the pair was in danger of resuming theTo avoid that outcome and put in a second “green” close, BTC/USD needed to gain over $2,000 from current spot price, which at the time of writing was $27,400.With support levels failing to change the mood thanks to the thinner liquidity during the weekend’s “out-of-hours” trading, analysts feared that a retest of May’s ten-month lows was due.
“Well, Bitcoin couldn't hold $29.3K and started dropping down some more. Looking to see how the $28.5K area is going to react,” Cointelegraph contributor Michaël van de PoppeAmid continuing talk of “capitulation” across cryptoassets, others focused on the fate of highly-correlated stock markets. Mike McGlone, senior commodities strategist at Bloomberg Intelligence, risk assets more broadly could already have seen peak exuberance in the past two years.Twitter followers.
“Just some normal reversion can feel like a crash and the 2020-21 risk asset pump may go down in history like 1929 and 1999.” At the day’s lows near $27,000, meanwhile, Bitcoin traded the closest to its May “mini” capitulation event since that day of turmoil took place at the hands of theFor many, the question was thus how to know where the true macro price floor for Bitcoin could lie.
“If price reaches low 20ks, you will see most of CT calling for 10k or even lower. That will be the bottom confirmation,” popular Twitter account Il Capo of Crypto
How do you think the new week will end?
ETH should keep it together. I hodl on finex!
be calm isaac we must not lose sight of the projects that are worthwhile and only accompany the bear market $psl
The market is fast, turbulent, and worrisome. I'd rather stick to holding and staking my Polygons, as I'm sure alt summer will take it into new heights. Especially with new innovations like Supernets and zk rollup support
I see no zone or zoneing for BTC, only gradual decent fpr months ‼️
Can it will fall on another 7K? I want to spend my usdt already
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🤌🎁🤏