Jun 11, 10:10 AM

Bitcoin Drops Below $68,000 to June Low, Down 3% Ahead of Fed Meeting

Bitcoin's price has dropped below $68,000, triggering concerns of further declines potentially to $60,000 due to thin bid liquidity. The $69,000 support level and the 21-day moving average were invalidated, causing further price weakening. This decline comes ahead of key US inflation data and a Federal Reserve meeting. Bitcoin hit a new June low, dropping 3% and plunging below $67,000. Open interest has soared past $37.6 billion, signaling potential volatility ahead. Despite a 3.6% drop in a day, Bitcoin remains rangebound, consolidating below all-time highs for nearly three months.

#Bitcoin #US #Federal Reserve

Written with ChatGPT (GPT-4o).