(6/6, Sun) btc fell -3.9% down to weekly starting price which should be kept to not go under 33k

in btc •  4 years ago 

Yesterday(6/5 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $36940, its lowest as $34811, its highest as $37921, its closing as $35500. Bitcoin rose to $37,500 in 30 minutes after the start of Saturday, then moved sideways, peaking at 07:30, and then dropped by $1,000 with sudden large sell volume at 09:45. And It fell again after moving sideways for long time and reached a bottom at 21:30, then rebounded and ended with a final decline of -3.9%.

Looking at the 4-hour chart, btc rose to $39,200 on 6/3 and then fell in an inverted N-shaped pattern, considering that the low trading volume is maintained, the market-leading selling trend seems to have weakened. Bitcoin dominance is moving between 42-43, and not so long ago, in this situation, altcoins would have risen significantly, but the current situation is that all altcoin buyers have exited the market.

The fact that Korea's kimchi premium, which was once maintained at more than 15%, has fallen to 3% is proof of this, and another reason is that the NFT market, which had grown rapidly until early May, significantly reduced its trading volume. I guess the said reasons may have put a brake on the rise of Ethereum.

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