 ▲ Bitcoin bulls vs. bears have conflicting views ©Coin Leaders |
Cryptocurrency leader Bitcoin (BTC) is trading around $64,000 on the 22nd (Korean time).
According to CoinMarketCap, as of 2:23 p.m. on this day, the price of 1 Bitcoin was $64,276, down 0.32% from 24 hours ago.
Bitcoin traded between a low of $63,378.89 and a high of $64,705.90 on this day.
Bitcoin is struggling to find rebound momentum due to continued selling pressure and spot ETF fund outflow amid worsening macro indicators.
Cointelegraph diagnosed, “Recent BTC selling pressure is likely due to market reaction to macro indicators such as the expiration of U.S. Treasury bonds, concerns about an economic recession, the worsening Chinese economy, and the rising dollar index.”
Also, according to data from financial information platform Farside Investors, there was a net outflow of $106 million from the U.S. Bitcoin spot ETF on June 21 (local time). This is a net outflow for 6 consecutive trading days. $44.8 million was leaked from Fidelity FBTC, and $34.2 million was also leaked from Grayscale GBTC. BlackRock IBIT had no inflows or outflows.
Meanwhile, according to CryptoGlobe, 'Tradingshot', an anonymous trader with about 73,000 followers on chart analysis platform TradingView, said, "BTC will soon break the $100,000 mark as it forms a cup and handle pattern on the weekly chart." “You can do it,” he said.
The trader said, “How long it will take to complete the cup and handle pattern depends on whether the 200-day moving average or the 50-week moving average will be maintained.”
On the other hand, CryptoQuant warned through Formula
