For Quick Alerts
For Daily Alerts

Bitcoin Down Amid Uncertainty! Bitcoin Hovering Around $30K Since Two Months


Despite gaining as much as 4.6 percent during early Asian trading hours on Wednesday, Bitcoin remained on a downward course toward $32,000. The slow decline is eating away at year-to-date gains, which are now just around 12%.


BTC price action has failed to reestablish a positive trend despite improving fundamentals and continuous adoption narratives.

Bitcoin Down Amid Uncertainty! Bitcoin Hovering Around $30K Since Two Months

The number of coins traded every four hours has decreased since the June 29 sell-off, and daily turnover for the world's oldest cryptocurrency remains significantly lower than in recent weeks.

Indeed, bitcoin's intraday spot price hasn't had a higher-low, higher-high scenario since June 29's peak of $36,623. This indicates that the price action is firmly in the seller's favor.

After exceeding $30,000, Bitcoin (BTC) has been stuck in a price range for almost two months, and new data suggests why.

Nunya Bizniz, a renowned Twitter pundit, gave many arguments supporting the relevance of $30,000 for BTC/USD in a series of tweets on Thursday. Bitcoin is still 50 percent behind recent all-time highs and lacks direction, leading to negative predictions for what has been an eight-week meandering trajectory.

Read more about: bitcoin cryptocurrency
Story first published: Thursday, July 15, 2021, 18:13 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X