Cryptocurrency market on June 20: Bitcoin drops below 104,000 USD
Price movement of Bitcoin on the OKX exchange
On June 20, the cryptocurrency market witnessed a significant drop in Bitcoin (BTC). According to data from the OKX exchange, this coin fell to a daily low of less than 104,000 USD. Currently, the price of Bitcoin is trading at 103,929.70 USD, down 0.17% from the previous day. This is a clear signal indicating the increasing volatility of the cryptocurrency market during this period, directly affecting investor sentiment and their trading strategies.
The impact of the downward trend on the cryptocurrency market
The price of Bitcoin dropping to nearly 104,000 USD has raised concerns about the possibility of the market entering a deeper correction phase. Other major altcoins are also under downward pressure, reflecting investor caution in the face of unpredictable volatility. Divergence in technical indicators such as RSI and MACD suggests that further declines may continue. Investors need to pay attention to the psychological support level of 102,000 USD and potential recovery price zones in the near future.
Predictions and investment strategies during the volatility phase
In the context of Bitcoin's continuously fluctuating price, analysts recommend that trading strategies based on technical signals and capital flow analysis are optimal. Many experts predict that if the sellers maintain pressure, Bitcoin may retest the support zone of 102,000 USD before potentially recovering. Cautious investing and minimizing risk is the appropriate strategy to protect portfolios during the strong volatility phase of the cryptocurrency market.
Source: https://tintucbitcoin.com/bitcoin-xuong-duoi-104k-usd-giam-nhe/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
