The flagship of bitcoin cryptocurrencies is following a downward trend that puts the level of $ 20,000 at risk again, as risk aversion reappears in the markets after a two-day profit for the international indices.
In particular, the largest cryptocurrency in the market traded at $ 20,400 with a loss of 3.65%, while at the low of the day it had fallen to $ 19,949 according to data from coindesk.
A similar move with bitcoin, as usual, is made by the rest of the digital currencies in their majority, with the ethereum to lose 5.75% moving to $ 1,088, having fallen to 1,066 in the last 24 hours.
At the same time, the binance coin falls 3.5% to $ 214, the solana loses 6% to $ 35.34, the cardano is at -0.5.5% and $ 0.47, while on the contrary shiba inuthe 14th cryptocurrency to capitalize, rallied 11% to $ 0.000010 but seems to be losing momentum as well.
“Bitcoin seems to have formed a bottom line, but it’s probably not the bottom line,” said Mark Newton, chief technical analyst at Fundstrat Global Advisors.
“The uptrend looks near $ 23,300 with a local high near $ 24,800 before prices fall again, possibly reaching new local lows in the last week of June,” he added.
Cryptocurrencies have been moving in the same direction as equities for months, with today’s moves not being an exception as investors’ disposition towards risk assets seems to have fallen sharply again.
In each case, they have seized it, despite obstacles we can scarcely imagine. ”
Source: Capital
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