 ▲ Bitcoin (BTC) decline |
Cryptocurrency leader Bitcoin (BTC) was pushed to the $63,000 level at one point amid worsening macro indicators over the past 24 hours.
According to CoinMarketCap, as of 8:25 a.m. on the 22nd (Korean time), the price of 1 Bitcoin is $64,081, down 1.34% from 24 hours ago.
Bitcoin fell to a low of $63,378.89 on the day.
Into the Block, a cryptocurrency market data platform, said through “It is,” he said.
Cointelegraph diagnosed, “Bitcoin broke below the immediate support level of $64,602, increasing the risk of it falling to the important price level of $60,000.”
According to the media, Bitcoin BTC is gradually falling towards the support range of $56,552 to $73,777, where it has remained for the past few months.
Glassnode senior analyst James Check wrote in a June 19 He advised them to be careful not to shake from their position.
Although the short-term Bitcoin price movement remains uncertain, analysts are optimistic about the long-term outlook.
Analysts at research and brokerage firm Bernstein expect the price of Bitcoin to rise to $200,000 by the end of next year, up from a previous target of $150,000, thanks to strong inflows into U.S. Bitcoin spot trading funds.
Meanwhile, Cointelegraph said, "There are some traders who attribute this week's short-term decline in Bitcoin to the selling of Bitcoin seized in connection with crimes by German authorities, but it is more likely due to negative market reaction to macroeconomic data."
The media said, "According to Arkham, a German government-related wallet deposited 6,500 BTC worth about $425 million to the exchange on June 19 (local time). Arkham entered the wallet into a movie piracy site that has been operating since 2013. It is estimated that 50,000 BTC confiscated by German authorities from Movie2k.to is in storage. However, even if the German authorities cashed out the entire amount deposited into the exchange on this day, MicroStrategy holds the largest amount of BTC among companies excluding ETFs. Since it was announced on the 20th that it had purchased 11,931 BTC worth $786 million, it is normal that the recent BTC selling pressure is more than offsetting the downward pressure from Germany, the expiration of U.S. Treasury bonds, concerns about an economic recession, the worsening Chinese economy, and the dollar. “It is most likely due to the market reaction to macro indicators such as the rising index,” he explained.
