Prior to the news, bitcoin saw several days when buyers began to disappear from the market.
As you can see, the price temporarily dipped below support on high volume and saw a short closing rally which pushed the price back into the TR.
Now, at the time of this article, we are testing the support of the $6,450 range again.
If we fail to hold support, we will undoubtedly test the support of the February low ($6,000).
First, we must see how support holds on the test of the $6,450 and $6,000 levels.
Within minutes of rumors spreading regarding the SEC’s classification of both bitcoin and ether, the entire crypto market breathed a sigh of relief as everyone enjoyed a nice bounce.
Coinbase dominated headlines across the space this week with a pair of significant developments. The San Francisco–based exchange announced on Monday, June 11, its intention to add Ethereum Classic to its trading platform and then quickly followed the news on Tuesday with the official opening of a crypto index fund.
In the previous BTC-USD market analysis, we discussed a macro pattern forming, called a “symmetrical triangle. ” A symmetrical triangle (shown in red) is a directionally agnostic consolidation pattern.
BlackRock CEO warns US risks losing reserve currency status to Bitcoin amid mounting debt, deficits, and potential digital transformation.
The post BlackRock CEO warns US dollar could lose global reserve status to Bitcoin appeared first on Crypto Briefing.
Strategy's massive Bitcoin acquisition underscores its commitment to cryptocurrency, potentially influencing market dynamics and investor sentiment.
The post Saylor’s Strategy scoops another 22,048 Bitcoin for $1.9 billion appeared first on Crypto Briefing.
Several altcoins posted impressive gains on Sunday, despite the global cryptocurrency market remaining slightly bearish. The total cryptocurrency market capitalization is currently at around $2. 7 trillion.
Saylor's continued Bitcoin acquisitions could influence market dynamics and investor sentiment, potentially impacting Bitcoin's volatility.
The post Saylor hints at new Bitcoin purchase as holdings surpass 500,000 BTC appeared first on Crypto Briefing.
Financial author Robert Kiyosaki has issued a warning about traditional currencies while advising his followers to earn and save in alternative assets like precious metals and cryptocurrencies. The “Rich Dad Poor Dad” author specifically highlighted silver as his top near-term…
The meeting could strengthen US-El Salvador relations, influence Bitcoin's global adoption, and impact international crypto policies.
The post Trump plans to meet with Bitcoin bull Nayib Bukele next month appeared first on Crypto Briefing.
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GameStop (GME) Stock Crashes 22% After Bitcoin Reserve Plan, Here’s Why
Along with the GameStop stock, BTC price is also seeing some selling pressure, dropping 1. 7% today and slipping under $86,000.