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Bears back off, but Bitcoin price still wavers below $35K

Published 06/28/2021, 06:18 PM
Updated 06/28/2021, 08:00 PM
Bears back off, but Bitcoin price still wavers below $35K

Although bulls made a show of force in the morning trading hours, Bitcoin (BTC) price is still pinned under the $35,000 resistance and unable to flip the 20-day moving average to support or secure a daily close above the level.

Data from Cointelegraph Markets Pro and TradingView since rallying to $35,400 on June 28, Bitcoin has traded in a range between $33,850 and $35,000 as the fallout from China’s crackdown on BTC mining continues to reverberate across the market.

BTC/USDT 4-hour chart. Source: TradingView
Bitcoin short- and long-term holder SOPR. Source: Glassnode
Daily cryptocurrency market performance. Source: Coin360

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