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Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K

Published 06/28/2022, 04:41 PM
Updated 06/28/2022, 06:20 PM
Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K

Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K

The crypto market is currently going through a period of heightened volatility as global economic conditions continue to worsen amid a backdrop of rising inflation and interest rates.

As the headwinds impacting global financial markets beat down all traces of bullish sentiment, many crypto investors are predicting that Bitcoin (BTC) price could drop to as low as $10,000 before a market bottom is found.

BTC/USDT 1-day chart. Source: TradingView
Historical drawdowns for Bitcoin. Source: Arcane Research
Brave new coin index for Bitcoin (BLX) 1-month chart. Source: Delphi Digital
Bitcoin bear market floor models. Source: Glassnode
BTC/USD 1-month chart. Source: Twitter (NYSE:TWTR)

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Latest comments

10k for July. then 5k for August
maybe, but 400k next year and you'll be pissed off, hahaha
Traders don't fear it they think they might get it cheaper
By traders He probably means hodlers
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