After the opening of Wall Street on July 6th, Bitcoin continued to fluctuate, with the high point of the year being replaced by a pullback.BTC/reached a new low in July near $29701Popular trader Jelle is one of those who are concerned about the possibility of prices returning to the $28000 range, and he believes this is a suitable entry point
After the opening of Wall Street on July 6th, Bitcoin continued to fluctuate, with the high point of the year being replaced by a pullback.
BTC/reached a new low in July near $29701
Popular trader Jelle is one of those who are concerned about the possibility of prices returning to the $28000 range, and he believes this is a suitable entry point.
Michael van de Poppe, founder and CEO of Trading Company 8, wrote in some comments: "Bitcoin has returned to its bottom and needs to turn bullish, otherwise there may be a situation of $28500. The market is expected to raise interest rates supported by positive unemployment data.
VandePoppe mentioned the strong US employment data released before the opening of Wall Street, which boosted market expectations for the Federal Reserve to raise interest rates again by the end of July.
With BTC falling below $30000, many open positions have been cleared, but the overall liquidation volume is still not very high,
According to data from monitoring resource CoinGlass, on July 6th, BTC's long and short clearing amounts were $43 million. The total clearing amount of Cryptocurrency is about 120 million US dollars.
In terms of counterfeit currency, the market continues to decline, with the largest market value asset returning to below $30.000.
Leading the rise was Fantom (FTM), where the value of the token fell by more than 10% on the same day. The project also erased the momentum of the previous week, with a decline of nearly 11% in the past 7 days.
Other major counterfeit coins in the top 100 include WOONetwork (WOO), ApeCoin (APE), LidoDAO (LDO), Algorand (ALGO), Pepe (PEPE), Litecoin (LTC), Mina (MINA), Injective (INJ), Filecoin (FIL), UNUSSEDLEO (LEO) The daily decline was 4-9%.
After hitting a local high of US $1.956, Ethereum (ETH) was under tremendous selling pressure, which dragged the second largest market value asset to break through the US $1.900 mark, establishing a local bottom near US $1.832, the lowest level since late June. ETH has now slightly rebounded to around $1844, with a decrease of nearly 3% on the same day.
(Personal thoughts, not as investment advice)
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