Bitcoin

April

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-selling-pressure" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Selling Pressure</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-anticipates-secs-etf-decision-for-potential-trading-advancements" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, the leading cryptocurrency, has encountered significant selling pressure following a notable price decline. After reaching an all-time high during the April halving, Bitcoin’s value dropped, influenced heavily by miners’ actions. This decline brought the price down to $65,000, causing its market capitalization to fall below $1.3 trillion.</p>
<h2 id="what-are-bitcoin-etfs-experiencing">What Are Bitcoin ETFs Experiencing?</h2>
<p style="text-align: justify">The price of Bitcoin fell to a one-month low, with the 50-day moving average indicating further potential declines. The expectation that the US will maintain higher <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rates</a> has also contributed to ongoing BTC sales. The decline extended to Bitcoin ETFs, which saw an outflow of $620 million last week.</p>
<p style="text-align: justify">On June 17, US spot Bitcoin ETFs recorded a significant outflow, totaling $208 million. Data from LookonChain revealed that Fidelity’s FBTC experienced outflows of more than $80 million, while Grayscale’s GBTC saw outflows exceeding $60 million. Renowned analyst Rekt Capital noted Bitcoin’s failure to break through high levels ranging between $60,573 and $71,524.</p>
<h2 id="when-will-bitcoin-regain-momentum">When Will Bitcoin Regain Momentum?</h2>
<p style="text-align: justify">The decline in Bitcoin’s price accelerated upon rejection from the accumulation range. To regain momentum, Bitcoin would need to surpass the $71,350 mark. However, the price has struggled to break below $67,183, suggesting resistance is forming at lower levels. Sellers are applying pressure and are prepared to sell at decreasing prices during any uptrend attempts.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Bitcoin must surpass $71,350 to regain upward momentum.</li>
 <li>Price resistance is forming at increasingly lower levels, indicating persistent selling pressure.</li>
 <li>The current support level of $67,200 is weak, suggesting potential for continued decline.</li>
 <li>Investors should monitor interest rate expectations closely as they impact BTC sales.</li>
 <li>ETFs experienced significant outflows, reflecting broader market sentiment.</li>
</ul>
<p style="text-align: justify">The continuous selling pressure and weak support levels suggest that Bitcoin’s downward trend might persist in the coming days. Investors should remain cautious and keep a close watch on market indicators and <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> that could affect Bitcoin’s price movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-selling-pressure" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Selling Pressure</a></h5>

Bitcoin Faces Selling Pressure

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