The Bitcoin price (BTC) fell below USD 9,000 on June 15, while a new week produced new selling pressure on macro assets.
Cryptocurrency market daily overview
Bitcoin price tests resistance level of USD 9,000
Data from Cointelegraph Markets and CoinMarketCap showed that the BTC/USD entered the $8,000 range in Monday’s trading for the first time since May 28.
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The latest downward movement follows a difficult week for Bitcoin in which the markets almost recovered the $10,000 level before losing $800 in a matter of hours on Thursday.
After spending the weekend around the $9,400 level, the support level dropped once again as the outlook for the week in the stock markets seemed bleak.
At the close of this edition, the BTC/USD traded around USD 9,000 in an attempt to reset the support level.
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Bitcoin 1-day chart
Bitcoin price chart for 1 day Source: CoinMarketCap
Stocks wobble before the prediction of the „fall“
On Sunday, only Dow Jones futures fell 900 points, although the US markets were equally uncertain before the opening.
As reported by Cointelegraph, Bitcoin has become increasingly resistant to the impact of dramatic stock rises or falls, a process that has become known as „decoupling.
In 2020 alone, Tether created $5 billion and most of its tokens went to China
However, there are still signs of correlation, and Corona Millionaire is now at its lowest point in more than two weeks. A warning came last week that traditional markets should have a drop-style correction in the next three weeks.
At the same time, Cointelegraph analysts suggested that the USD 10,000 level would continue to evade the market in the short term, and perhaps even longer.