- Volatility of the oil price and wider market voltages attracted Bitcoin, still the risk-to-active
- Bitcoin price promotion will see Bitcoin attracted to local liquidity clusters
Bitcoin [BTC] was 1.16% falling while Ethereum [ETH] Whose 2.79% of its value in the 24 hours, at the time of writing, in the light of geopolitical tensions and macro -economic uncertainty. US President Donald Trump demands an “unconditional surrender” of Iran and threatened his leader as he called him an “easy target”, did little to strengthen market confidence.
The volatility around oil prices, which again depends on the situation in the middle, also had an impact on the economy. Rising energy costs can, for example, reduce the purchasing power of the consumer and can influence the crypto in the long term.
Here it is worth pointing out that the crypto -sentiment of “Extreme Greed” in May has set itself neutral levels. The Fed rate decision on June 18 also seemed to be priced, with the market forecast A chance of 99.9% on no tariff reductions.
On-chain statistics also showed that long-term holders have continued to collect. However, given the growing fears for an American military intervention in the conflict between Iran-Israel, the cryptomarkt will remain dangerously balanced. At least in the short term.
Why is Crypto down today? Liquidity is the stage for volatility
Source: BTC/USDT on TradingView
As always, the price is attracted to liquidity. Bitcoin has established itself in a consolidation phase in the past month. In the absence of a strong trend, BTC is powered by news updates, while he is also reactive to tweets. For example – the public consequences between Elon Musk and Donald Trump on Friday 13 June.
These violent movements were followed by fast reversations. Marked by the arrows, they were a clear sign of the price attracted by magnetic zones.
At the time of writing, the monthly open was an important level of support for $ 104.6k. A daily session that is below $ 104k $ 104.5k would like to propose a movement to $ 102k or $ 100k nearby.
Source: Total2 on TradingView
The Altcoin market has also been in a bearish phase. It was unable to climb past $ 1.24 trillion point. With the help of price promotion concepts, the region was a Bearish Order block from February (Red Box). Given the weak ETH/BTC ratio and the walk in Bitcoin -Dominance, Altcoin investors need patience.
Some sectors and certain coins have short periods in which they perform better than the wider market. Traders can be looking for these opportunities, but must be wary of keeping these assets too long.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
Credit : ambcrypto.com
