If Bitcoin closes at $19,000 on June 30, it will signal the end of monthly losses of more than 40%. Bitcoin drifted lower into the Wall Street close on June 30 after United States equities opened with a whimper.Bullish positions were abandoned as the price of Bitcoin, Bitcoin Cash, and Litecoin moved up to resume multi-decade highs. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD plummeting to its lowest in nearly ten days as it retreated from $19,000.
At the same time, the U.S. dollar staged a comeback to fix a path toward twenty-year highs that had been seen this quarter. The US dollar index (DXY) was above 105.1 on the day, only trailing by 0.2 points from its all-time highs set in 2002.
The worst month in 11 years for the Bulls is now behind us. With most on-chain measures at historic lows, price data suggested how far BTC might plunge in a bear market, which was increasingly distinct from the rest.
According to TradingView and on-chain monitoring site Coinglass data, if BTC/USD closes at $19,000 in June 2022, it would result in over 40% yearly losses. Even the March 2020 and 2018 bear markets were less severe on a monthly basis. When BTC/USD was priced at $8 in March 2020, for example, forty percent falls occurred for the first time since January 2014.
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