BITCOIN AGAIN NEAR $20,000 LEVEL THE FEAR AND RISK SHAKING THE MARKET
The largest cryptocurrency fell to 4.8% to $ 19,832, before settling at about $ 20,000 from 3:11:11 p.m. in New York. Ether dropped 6.1% to $ 1,053. Solana, Cardano, Polkadot and Dogecoin all refused.
"Bitcoin has done 'down' but probably not 'down'," said Mark Newton, head of technology strategy at Fundstrat Global Advisors. "Target targets should reach $ 23,300 with a maximum of almost $ 24,800 before prices return to a decline that could be a challenge in the last week of June."
Cryptocurrencies have been moving in the same direction for months as stocks' interest in risky assets increased with growing fears about a recession. Bitcoin seems to cover about $ 20,000, which is similar to its $ 30,000 transaction for most of May and June.
The removal of the low cost of less than $ 20,000 has happened as risk sentiment has stabilized and speculative investors are awaiting their next trading warnings, Informa Global Markets wrote in a paper on Tuesday.
The company added that data from on-chain analytics analyst Glassnode shows that as of June 20, 56.2% of addresses were still more expensive in dollars than when their money went into them, which Informa says raises questions about the complexity of the current bear market. . That compares with recent Glassnode data showing the average price of all Bitcoins distributed was estimated at $ 23,430 - hence, above current levels.
Still, it is the big picture that really drives the price of Bitcoin, Informa said.
"Macroeconomic conditions need to be improved and the Fed's aggressive monetary policy stance should be curtailed before crypto markets see a downside," the company wrote.