Bitcoin, Ethereum Technical Analysis: ETH Down, as Two-Day Winning Streak Ends on Hump Day

Bitcoin hit a hurdle on hump day, as the world's largest crypto token moved lower, following strong gains to start the week. ETH also slipped during today's session, with prices moving back towards the $1,000 mark. Bitcoin Following two straight days of gains, BTC was lower on hump day, as bears seemingly re-entered the marketplace.

Timeline of Bitcoin, Ethereum

Bitcoin price failed to stay above the USD 21,200 resistance zone and corrected below the USD 20,500 level. It is currently (12:48 PM UTC) trading near USD 20,200 and is down 4% in a day and almost 8% in a week.

After a weekend in which Bitcoin (BTC) experienced realized losses to the tune of $7.3 billion, the largest cryptocurrency has erased all weekend losses and is up over 8 percent to $21,206 in the last 24 hours. Bitcoin has risen almost 22 percent since Saturday's low of $17,592, and is currently trading around $21,000.

SHIB soared 12% taking the main stage with its double-digit price surges while BTC slipped to $20,000 once again and most other coins are in the red as well as we can see in our latest altcoin news today. After a few days of recovering, BTC Slipped and reversed its trajectory and dropped to $20,000

Ethereum price analysis is bullish today as we have seen a strong retrace slightly above $1,150 end with a slow reversal over the last 24 hours. ETH//USD is now ready to continue even lower and head towards the $900 previous swing low.

Crypto investment products saw $39 million in outflows during the week of June 13, bringing the value of assets under management (AuM) in the industry to $36 billion — its lowest point since February 2021, CoinShares reported. The post Crypto AuM at lowest point as investors buy the Bitcoin dip appeared first on CryptoSlate.

Bitcoin (CRYPTO: BTC) is down 4% in the past 24 hours after trading around the $21,500 level yesterday. As reported previously, the bull trap that pumped BTC from lows of $17,100 to $21,800 is now heading back to its bear trend as the market moves sideways.

A dead cat bounce is a transient, short-term recovery of asset prices from a long-term downturn or bear market, followed by the downtrend continuing. Short periods of recovery—or minor rallies—frequently interrupt downtrends, causing prices to momentarily climb. The term “dead cat bounce” refers to the idea that even a dead cat can bounce if it …

Ethereum (CRYPTO: ETH), the second largest cryptocurrency by market cap, is down 7% in the past 24 hours after recovering as much as 30% in recent weeks. The DeFi contagion — a slang used for crashing domino effect on DeFi products — has shortened ETH's recovery as the token now trades more than 70% below its record high with further signs of decline.

A popular crypto analyst is looking at historical data to determine whether Bitcoin (BTC) has actually reached its bottom or not after enduring an extended downtrend. In a new strategy session, Nicholas Merten cautions his 516,000 YouTube subscribers against feeling too exuberant about Bitcoin rallying off its weekly lows after BTC briefly dipped under $18,000 The post Here's the Worst-Case Scenario for Bitcoin (BTC), According to Crypto Analyst Nicholas Merten appeared first on The Daily Hodl.

The crypto market reversed lower again on Wednesday, after some optimism earlier in the week that the bottom could be behind us. According to analysts, the outlook for crypto is now highly uncertain, with some warning that prices could fall based on historical precedence, and others pointing to risks from the broader economy.