Bitcoin Price Outlook for June — Market Conditions Show Uncertainty
Ten days into June, bitcoin continues to trade lower, with prices hovering close to a twelve-month low. Despite this, there continues to be optimism around potential rallies in price over the next few weeks. Overall, there is still a lot of uncertainty in the market, with the potential for either bullish or bearish runs in upcoming sessions. Current Market Conditions Heading into June, bitcoin (BTC) had seen its value fall for nine consecutive weeks, pushing prices to their lowest level since the same point last year. This run started towards the end of March, when....
Related News
At the end of the trading day on Monday, Wall Street was roiled once again as major stocks plunged during the day’s trading sessions. Most news outlets indicate the Russia-Ukraine war is causing the bleak outlook and reports show strained financial conditions worldwide are currently the tightest since 2020. Meanwhile, bond markets during Monday’s trading sessions indicate increased inflationary pressures may be on the horizon.
Global Investors Grow Concerned About Strained Financial Conditions
Equities traders did not have a pleasant day during Monday’s....
Data-driven insights into digital assets’ trading conditions remain relevant regardless of whether the market is going up or down. Just as it started to look like the crypto market was staging a comeback and bracing for a new bull run, geopolitical tensions stepped in to drive the price of Bitcoin (BTC) below $40,000 again, with most altcoins seeing deep red as well. Such periods of market uncertainty, however, are not unprecedented, and digital assets’ individual history already holds information on the way their prices previously behaved under similar macro conditions.Last week was not....
In the short-term, supporting the upside outlook is the uncertainty led by a rising number of coronavirus infections in the US.
Bitcoin price keeps simmering below $600. Perhaps ominously so. Direction is uncertain and the advice to traders remains the same: rather than anticipate the move, let the market show the way. The uptrend has steadily lost momentum and trajectory since the beginning of June. Downside. From a bearish perspective the price action can be interpreted as a rounded top. The outlook would be for price to perhaps attempt $600 again, and then sell-off in a bout of profit taking. Although such a sell-off could draw price back below $500, a strong bounce from the low can be expected, since the....
Regulatory uncertainty, potential competition from tech giants and a market nearing exhaustion are all factors impacting ETH price. After a 42% rally over a three week period, Ether (ETH) peaked at $3,580 on April 3, and since then a 12% correction to $3,140 has taken place.Tech giants launching their own smart contract platforms and regulatory uncertainty might have impacted investors’ sentiment and derivatives metrics also show worsening conditions which confirm professional traders' shift toward bearish sentiment.Ether/USD price at FTX. Source: TradingViewOn April 6, Financial Times....