There’s a lot of potential strong support below, both long and short-term and as we discussed in yesterday’s note the preferred view is that price is rising in a new 20-week cycle with an upside target around US$33,000 by end-July/early August.
Bitcoin’s price looks to be forming a base with the level to beat near term at US$23,210, which is the open on 14 June. It’s not uncommon for push up and pull back sequences to occur in these market phases.
With bonds and equities moving in lockstep and traditional hedges faltering, markets are trading headline-to-headline on Iran while Bitcoin’s resilience above $70K reflects cautious positioning in a regime where geopolitics, not fundamentals, is setting the pace.
Bitcoin recovered to $71,500 amid US-Iran tensions that rattled broader markets, but a surge in liquidations earlier and rising rate-hike expectations are clouding the outlook.
Why Morgan Stanley's MSBT signals institutional crypto has finally arrived
Bitcoin’s drop from $76K tracks a broader macro repricing—hawkish Fed signals, rising oil, and sticky inflation—but the absence of leverage-driven excess and steady spot demand suggest the pullback is structural, not terminal.
With bonds and equities moving in lockstep and traditional hedges faltering, markets are trading headline-to-headline on Iran while Bitcoin’s resilience above $70K reflects cautious positioning in a regime where geopolitics, not fundamentals, is setting the pace.
The XRP Ledger and RLUSD stablecoin will be used to test conditional payment release tied to shipment verification
Five exchanges have now launched around-the-clock equity derivatives products in as many weeks, as crypto platforms compete to become the always-on alternative to traditional stock markets
Hedge funds can now trade event contracts using crypto collateral they already hold — without touching a retail platform
