Bitcoin Price Rally Stalls For Now, Here's Why
After the Bitcoin price hit a new yearly high of $32,410 last Friday, June 23, the price rally has stalled for the time being. While the long-term outlook...
- The Bitcoin price rally has stalled after reaching a new yearly high of $32,410.
- Negative news surrounding the depegging of TrueUSD (TUSD) may have unsettled investors.
- Bitcoin miners are sending a record-high amount of BTC to exchanges, potentially indicating their use as collateral in derivatives trading.
- The upcoming expiration of BTC options and the release of the PCE index numbers may be causing a wait-and-see approach in the market.
- Bitcoin is facing resistance at $31,000 and is currently in a consolidation phase.
The sentiment in the article is mostly negative, with concerns about stablecoin depegging, miner behavior, and market uncertainty.