{"id":48995,"date":"2022-06-21T18:06:42","date_gmt":"2022-06-21T16:06:42","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=48995"},"modified":"2022-06-21T18:06:42","modified_gmt":"2022-06-21T16:06:42","slug":"bitcoin-breaks-above-21k-again-but-market-sentiment-remains-bearish","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-breaks-above-21k-again-but-market-sentiment-remains-bearish\/","title":{"rendered":"Bitcoin Breaks Above $21K Again, But Market Sentiment Remains Bearish"},"content":{"rendered":"

The cryptocurrency market is moving unexpectedly<\/strong>. It is becoming fairly hard to predict<\/strong> the prices of crypto coins. Despite the bearish sentiment<\/strong> overall, the prices of Bitcoin saw a rise to over $21,500<\/strong> today. However, the outlook of the coin is bearish. Therefore, experts are expecting a reversal<\/strong> from this point.<\/span><\/p>\n

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The $20K mark<\/strong> is the local support level for Bitcoin. Thus, if BTC slides past this point, it will be degraded to $18,000 or even $17,000<\/strong>. However, the market is currently green<\/strong>, as the overall market cap has also crossed $944 Billion<\/strong>. Bitcoin is<\/span> valued<\/a><\/strong> at around $21,470<\/strong>. The market cap of BTC is over $410 Billion<\/strong>. But it is still 4%<\/strong> under its last week\u2019s price. Also, BTC has a market dominance of 43.50%<\/strong>, and its trading volume has decreased<\/strong> in the last 24 hours.<\/span><\/p>\n

\"BTCUSD\"<\/p>\n

Bitcoin Consolidates But the Bearish Outlook Sustains<\/span><\/p>\n

The\u00a0<\/span>month of June<\/strong>\u00a0proved to be\u00a0<\/span>disastrous<\/a><\/strong>\u00a0for the leading cryptocurrency token. BTC did not show any signs of\u00a0<\/span>strength or recovery<\/strong>. Its $20,000 support level was\u00a0<\/span>very weak<\/strong>, as the coin went\u00a0<\/span>under $18,000<\/strong>. The coin saw a boost this week, as it is currently\u00a0<\/span>testing<\/strong>\u00a0the $21K mark. However, it is\u00a0<\/span>highly unlikely<\/strong>\u00a0that bullish momentum is formed for the coin. In this case, BTC can go\u00a0<\/span>lower<\/strong> than its previous low.<\/span><\/p>\n

If the fallout<\/strong> happens, then $16,000<\/strong> is an expected target<\/strong> for BTC. On the other hand, the coin can eye $23K<\/strong> if it successfully sustains its position over $21K<\/strong>. But this can only happen after a major swing reversal<\/strong> over the following weeks. Experts and traders are still very cautious<\/strong> while analyzing the price pattern of Bitcoin.<\/span><\/p>\n

On the other hand, Ethereum<\/strong> has also moved past $1,150<\/strong> after touching the lows of under $900<\/strong>. This recent relief has come just at the right time for the leading altcoin<\/strong>, as ETH was struggling to keep up with the severe bear run<\/strong>. Due to this uptrend, several other tokens, including BNB, SOL, MATIC, DOT, and AVAX<\/strong>, saw significant growth.<\/span><\/p>\n

Moreover, DOGE and SHIB<\/strong> posted double-figure percentage gains<\/strong> to reach commendable highs. This market trend might help traders and investors to minimize their losses and close positions<\/strong>. However, the market is currently unstable<\/strong>, and there is no assurance over the next move of the FED<\/a><\/strong>. The bearish sentiment is far from over in the crypto market, as it has already liquidated billions of dollars<\/strong> in no time.<\/span><\/p>\n

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The cryptocurrency market is moving unexpectedly. It is becoming fairly hard to predict the prices of crypto coins. Despite the bearish sentiment overall, the prices of Bitcoin saw a rise to over $21,500 today. However, the outlook of the coin is bearish. Therefore, experts are expecting a reversal from this point.<\/p>\n","protected":false},"author":22,"featured_media":48996,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74,9156],"tags":[4602,5463,4656,4679],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/48995"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=48995"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/48995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/48996"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=48995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=48995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=48995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}