Crypto Currency News

Bitcoin Price Remains Volatile, Pulling Back Again Despite Widespread Optimism

Bitcoin ended June with a 7% monthly drop

Bitcoin (BTC) fell back again after breaking the $ 35K barrier. The leading cryptocurrency posted its second day down, hitting lows of $ 33,124 this morning. At the close of this publication, its price is USD 33,504.

BTC ended June with a 7% monthly drop, and a 43% quarterly decline. In between, of course, it experienced one of the biggest landslides in recent years. At an annual level, it still has an increase of 13%, which reached more than 100% when it reached its ATH in mid-April.

At the moment, BTC remains stuck in the gap between 30 and 40 thousand dollars, and specialists hope that it will not break the new level in the short term. The closest target is again at $ 35K, and then they mark a major resistance at $ 35,965. However, new external stimuli will be essential to trigger the price.

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In this sense, in the last few hours new advances have emerged from large firms towards the market. Soros Fund Management , the financier of billionaire George Soros, is about to start operating with BTC , although it is not clear if it will offer crypto services for its clients or if it will make an investment in the market.

Faced with a more optimistic than expected scenario, analysts suggest that a brief rally could push the price of BTC above $ 37K. Likewise, there is also the possibility of a deeper fall, which threatens to bring the price closer to annual lows.

The rest of the crypto market had mixed returns in the beginning of the second half of the year. Ether (ETH), the benchmark altcoin, grew less than 2% and continues above $ 2.1K. At the close of this note, the price of ETH is $ 2,124.

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On the other hand, cardano (ADA) and dogecoin (DOGE) grew 3% and reached USD 1.34 and USD 0.24. Binance coin (BNB) and XRP are up about 2% and are trading at $ 288 and $ 0.66.

Lastly, bitcoin cash (BCH) and litecoin (LTC) are down less than 2% and their price ranges between $ 494 and $ 136.

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