Bitcoin (BTC) experienced a decline on June 20 as it struggled to surpass the $66,000 mark. BTC/USD reached a high of $66,455 on Bitstamp before dropping by $2,000. Material Indicators, a trading resource, attributed this volatility to the actions of large order book players, or “whales,” who were manipulating bids in the order book. CoinGlass, a monitoring resource, confirmed that the new liquidity focal point was around $64,250. In addition to this, the movement of confiscated BTC belonging to the German government was also a topic of debate. Traders were hopeful that this event could lead to a repeat of past market patterns. CoinGlass data showed that both long and short BTC positions were affected by the volatility, with shorts experiencing losses. Meanwhile, in the United States, jobless claims for the week through June 15 came out at 238,000, slightly below expectations. The crypto market has shown sensitivity to employment data prints. Financial commentator Tedtalksmacro highlighted the correlation between BTC price performance and Federal Reserve liquidity conditions. As always, readers should conduct their own research and exercise caution when making investment decisions.
Bitcoins near665K rally stumbles by 28 amid accusations against influential Bitcoin holders