Categories: Bitcoin

Bitcoin drops $ 2.5K amid warnings of repeated BTC price drops

Bitcoin (BTC) slumped on June 25 after a $ 35,000 denial sparked a direction towards familiar support.

BTC / USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitcoin returns to $ 30,000

Data from Cointelegraph Markets Pro and TradingView tracked BTC / USD as it fell more than $ 2,500 in trading on Friday.

The pair hit a domestic high of $ 35,400 overnight before abruptly reversing its course and falling below $ 33,000.

For popular trader Crypto Ed, the situation is similar to what happened last month after BTC / USD climbed to the USD 30,000 support level for the first time.

“The current slow PA reminds me of a similar situation a couple of weeks ago … I think we did 1-5 and started the next cycle, but after another spike BTC corrected lower,” he said commented on an enclosed diagram.

“I thought we could get the same here.”

BTC / USD scenario. Source: Crypto Ed / Twitter

That would enable Bitcoin to regain the $ 20,000 corridor it briefly broke a few days ago.

As Cointelegraph reported, sentiment remains on the cautious side for many traders after BTC / USD failed to hit the $ 37,000 target prior to its recent rejection. Hence the possibility of a new lower lows is far off.

There is still interest in buying BTC

There remain signs of basic trust.

Similar: The bulls in the parade: Experts from Galaxy Digital and Alameda point to market recovery

On Friday, El Salvador and its Bitcoin laws were back in the spotlight after President Nayib Bukele announced that every eligible citizen will receive $ 30 in free BTC when they download their wallet.

Meanwhile, the institutional boom came in the form of a Purpose Bitcoin ETF, which continued to add to its assets under management during the decline.

Meanwhile, the altcoins were flat and no asset managed to break out of the established trading zones.

.

.

Coincu

Recent Posts

Bybit Proof Of Reserve Shows Changes In BTC, ETH, And USDT

Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…

10 minutes ago

Bitcoin Spot ETF Inflows Reach $449M With BlackRock Leading

Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…

59 minutes ago

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

2 hours ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

3 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

3 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

3 hours ago

This website uses cookies.