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Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive

Cryptocurrency Jul 01, 2022 03:40PM ET
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Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive

Bitcoin (BTC) finished June 2022 just below $20,000 after a last-minute pump saw bulls escape 40% monthly losses.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking higher into the monthly close, which came in at $19,924 on Bitstamp.

BTC/USD monthly returns chart. Source: Coinglass
Coinbase (NASDAQ:COIN) Premium vs. BTC/USD chart. Source: CryptoQuant

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Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive
 

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Stephen Smith
Stephen Smith Jul 02, 2022 8:08AM ET
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During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, its worst quarterly performance since 2008. Bitcoin has been closely correlated to the price movement of U.S. stock indexes. The stock sell-off has weighed on bitcoin and the crypto market as investors dump risky assets. https://worldabcnews.com/bitcoin-btc-posts-worst-quarter-in-more-than-a-decade-5-reasons-why/
 
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