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Bitcoin is now in a dangerous area due to a decrease in buying pressure. The crypto market is awash with traders and investors who are wondering if Bitcoin will ever recover.
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Bitcoin's price is trending downwards on the daily graph. Source: BTCUSDT on Tradingview
Watch out for this Level: Top Bitcoin Pundit
Daan crypto, senior analyst in the field of cryptocurrency, believes the Bitcoin has been weakened by changes made to the macroeconomic environment. Analysts believe that bulls must maintain the price above $99,000 to avoid a further decline towards the lows of the month, which are around $90,000.
Bitcoin’s price is affected by a number of macro factors, including: good Consumer Price Index (CPI) print from the US, and a ‘good deal’ between this country and Chinese representatives. Both of these news points to a potential end in the trade conflict between two titans and an eventual decline in prices. But the analysis noted:
I am fairly confident that the price will continue to trend in the same direction throughout the remainder of June and possibly beyond if it breaks the monthly high or the low. Keep an eye on these levels.
Still quite a volatile and headline driven market currently(…). It is important to be aware of the fact that markets tend to fall on positive news. Even if it’s just for one day, you should be alert.
James Wynn Makes Key Warning – Manipulation in the Bitcoin Price?
James Wynn is another crypto trader, who has recently become famous by betting millions on Bitcoin’s price. James Wynn predicts that selling pressure on Bitcoin will be increasing in a short period of time.
Wynn alerted its X-followers about the alleged market manipulation by large players. The crypto trader claims that these large investors are targeting key levels to push Bitcoin in their direction to seek liquidity, to the detriment to retail users.
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This time Wynn claims ‘Market Makers’ might push the Bitcoin price down to the $106,000 area. The trader, however, believes that the downward trend will not last long and advises his followers to expect an impending rebound. Wynn stated Via X
Stay seated, fellas. The MMs will try to push the $BTC up to $106.8k in order to get rid of some longs who are over-leveraged (not me). The hard way.
Purchase the dip. Sit on your hands. The time will fly by. The clock is ticking. There are new ATHs on the horizon. Be strong.
The price movement suggests that volatility is about to increase.
BTC/USDT Chart from Tradingview. Cover Image by ChatGPT.
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Source: www.newsbtc.com
