Bitcoin June 30, 2022 – Apnea below $19,000

Sea and heat wave – Bitcoin (BTC) price dips back below $20,000 as the submerged part of the iceberg reveals strong fundamentals.

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Bitcoin Price Below $19,000: Market “Crumbling” Continues

Bitcoin price falls up to around $18,643 on Bitfinex today, June 30, 2022. The cryptocurrency is currently struggling to regain $19,000. It is trading at $18,738 at the time of writing, and is at a significant loss of 7.27%.

The price of Bitcoin could thus close this month of June 2022, below $20,000, a first since November 2020.

This loss of $20,000 takes place alongside a rise in the US dollar (DXY), as the value of the latter surpassed 105.1.

Trader Faisal Khan believes that the DXY may be about to test the 2002 highs. The DXY was indeed not only 0.2 points from its highest levels at the time.

Publication by Faisal Khan – Source: Twitter

The US dollar would have broken with its downward trend in the short term, “in a context of continued erosion of the risk markets”, underlines Faisal Khan.

So should traders and investors expect to another low for this cyclebelow the current price floor that Bitcoin touched on June 18, 2022?

Bitcoin’s Marine Ecosystem: Scared ‘Sharks’?

This eventual monthly close below $20,000 could cause concern among some observers, who expect another capitulation.

Checkmate, which is Glassnode’s lead on-chain analyst, however, shared data that could invalidate such an assumption.

“Shrimps” and “crabs” who hold a maximum of 10 BTC in their wallets, accumulate bitcoinswhile the price of the cryptocurrency is hovering around $20,000.

Whales holding more than 1,000 BTC are withdrawing their holdings from cryptocurrency exchanges to their wallets at an intensive rate.

But between these shrimps, crabs, and whales, the “sharks” who own between 10 BTC and 1,000 BTC, are an exception.

Bitcoin price: accumulation of HODlers
Glassnode post – Source: Twitter

Bitcoin HODlers would therefore not be the main responsible for the declines in the price of cryptocurrency in recent weeks.

They might even allow the bulls to successfully defend supports in that $18,000-$20,000 area, which is currently undergoing further testing.

Will July 2022 be a bloody month for BTC markets as well, or will the macro environment blow more favorable winds for Bitcoin price?

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