Despite initial jobless claims coming in below expectations, U.S. unemployment data failed to spook crypto markets into fresh concerns over the path of inflation.
“Most of the liquidity lies above after testing the range lows at ~$59K and taking all the liquidity that sat there,” popular trader Daan Crypto Trades“It will be an interesting battle over the next couple of weeks with this new supply overhang added.”“Looks like Bitcoin's range lows are holding - despite the US & German governments selling coins & Mt. Gox finally paying back creditors,” he suggested.
These managed $21.4 million on June 26, following $31 million the day prior, data from sources including United Kingdom-based investment firmZooming out, Axel Adler Jr, a contributor to on-chain analytics platform CryptoQuant, queried how long the BTC price retracement from March’s all-time highs could last.Comparing recent price action from years past, he argued that Bitcoin was copying behavior last seen at the end of 2019.
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