Bitcoin price recap: June 2020
Bitcoin price headed for monthly close beneath key level despite increased hodling and reduced on-exchange reserves that point to a bullish signal for the top cryptocurrency
Bitcoin price has bounced between lows of $8,800 and highs of $10,450 in June, with traders looking for a monthly close above the $9,000 range. After touching highs of $9,260 in the past 48 hours, bulls have failed to propel prices higher as sellers thwarted efforts with a low of $9,012.
A monthly close below this key level has in the past preceded price rejections to new lows. Bitcoin’s drop to lows of $8,890 over the weekend quickly recovered, albeit with low volume.