BTC’s sell-off is easing slightly, but traders are afraid that negative newsflow and future U.S. interest rate hikes could push the price lower.
Bitcoin's (BTC) month-long choppy price action came to an end on June 13 after a deep market sell-off pressed the top cryptocurrency under the $29,000 support. The move took place as equities markets also sold off sharply, hitting their lowest levels of the year.
Data from Cointelegraph Markets Pro and TradingView shows that the Bitcoin sell-off began late in the day on June 12 and escalated into midday on June 13, when BTC hit a low of $22,592.
Following Whalemap, Bitcoin had broken through key realised price supports where they would likely become our new resistances that $13,331 was the ultimate max pain bottom.
(Source: Cointelegraph)