5 Things to know in bitcoin this week

Bitcoin has hit new six-week lows, impacting altcoins and raising concerns among traders and investors.

Bitcoin's price dropped steadily, reaching $62,128, its lowest since May 15.

Trader Crypto Ed noted that Bitcoin looks weaker than expected, predicting more downside.

CoinGlass data showed significant liquidation of BTC longs, with $48 million cleared in 24 hours.

While Bitcoin struggled, U.S. stocks like the S&P 500 hit new highs, highlighting an inverse correlation.

Recent weeks saw increased whale activity, with some accumulating BTC.

Liked this story?

[{"selector":"#anim-72df9d6c-ea65-4dc6-a692-1ad4361797df","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1f888af7-fbe4-43e7-ab6b-9731d5c83b25","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-99fc8bbf-f3bc-480f-9090-b654069bc42a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-82d77d98-47fe-494b-a67e-0419e327ae33","keyframes":{"transform":["rotate(-270deg) translate3d(0px, 404.93851%, 0) rotate(270deg)","rotate(-270deg) translate3d(0px, 0px, 0) rotate(270deg)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Arrow

5 Things to know in bitcoin this week

Bitcoin has hit new six-week lows, impacting altcoins and raising concerns among traders and investors.

This story explores the key events and reactions shaping the market.

Bitcoin's price dropped steadily, reaching $62,128, its lowest since May 15.

This decline, confirmed by Cointelegraph Markets Pro and TradingView, reflects a 7% loss for the month.

Trader Crypto Ed noted that Bitcoin looks weaker than expected, predicting more downside.

He also warned of a potential 20% dive for altcoins. Daan Crypto Trades identified critical levels for a possible bounce.

CoinGlass data showed significant liquidation of BTC longs, with $48 million cleared in 24 hours.

Macroeconomic factors, including U.S. jobless claims and the PCE index, could further impact market sentiment.

While Bitcoin struggled, U.S. stocks like the S&P 500 hit new highs, highlighting an inverse correlation.

Analysts suggested this could be due to Bitcoin's sensitivity to Fed liquidity levels.

Recent weeks saw increased whale activity, with some accumulating BTC.

However, market manipulation and order book spoofing have created artificial volatility, complicating the market landscape.

Liked this story?

Follow US For More Such Updates

Click for more such news