Bitcoin CVDD Data Points To Possible Bottom Amid Market Mayhem – Detail
Bitcoin price performance in June has gotten off to a rocky start, with prices now down 50% from the market’s all-time high. In the last week alone, the premier cryptocurrency has declined by 16%, forcing the price to around $60,000 for the first time since February. Notably, the heavy market loss has coincided with the dominant Bitcoin treasury Strategy offloading $2.5 million in BTC to manage its balance sheet, despite initial chants of “never sell”. Moreover, the upcoming IPO of Elon Musk’s SpaceX is garnering much momentum as a favorable investment at the moment. Using relevant on-chain data, market analyst Rafael, with the X username n3ocortex, has highlighted a market bottom range amid the current persistent downtrend. Related Reading: Why Did Bitcoin Crash? On-Chain Data Points To One Missing Ingredient Historical Data Supports Potential Dip To $35,000 Before Recovery After failing to break past the $82,000 barrier in early May, Bitcoin slipped into another corrective wave, res