On June 14, the bitcoin exchange rate fluctuates around $25.9 thousand. On the weekend of June 10–11, the price of the asset fell to $25.5 thousand, many altcoins from the top 100 cryptocurrencies lost 20–25% in price.
After it became known that inflation in the US in annual terms in May slowed down from 4.9 to 4% (better than the forecast of 4.1%), the bitcoin rate rose to $26.35 thousand, but then dropped back to $26 thousand
The experts told RBC-Cryptohow bitcoin will behave in the near future and what will affect its value, and also named targets for BTC price levels.
Recovery after failure
Head of Analytical Department AMarkets Artem Deev
Bitcoin reached the mark of $26.2 thousand. This is despite the fact that even on the weekend it was trading at $25.5 thousand. Last week, its price fell by 7.5%. This was influenced by the fall of the BTC / USDT pair on June 5 (to $ 25.7 thousand with an intraday minimum of $ 25.3 thousand) and accusations of illegal work brought against the Binance exchange and its head Changpeng Zhao by the US Securities and Exchange Commission (SEC) .
Did not add positive and a lawsuit against Coinbase for alleged violation of the rules of securities trading. There is a purposeful campaign of the American administration against crypto-exchanges, because recently similar accusations were made against the Bittrex and Kraken exchanges.
At the same time, the American division of Bittrex began the bankruptcy process on May 8 after the SEC lawsuit of April 17, and Kraken continues to function, but in February agreed to pay fines of $ 30 million and refused to provide staking services.
The most depreciated over the weekend were the tokens that the regulator recognized as securities — BNB (BNB), Cardano (ADA) and Solana (SOL). All this could not but affect bitcoin. Its maximum last week was $27.39 thousand, followed by a drawdown.
While investors continue to digest industry news, the main cryptocurrency is beginning to regain its position. I think that tomorrow we will see a rate of $26.4 thousand, and by the end of the week it will approach $27.2 thousand.
Negative and positive scenarios
Co-founder of the ENCRY Foundation project Roman Nekrasov
The SEC lawsuits and the recognition of a number of altcoins as securities may lead crypto investors to prefer to withdraw assets from altcoins and transfer them to bitcoin, which will support its course. But in general, while the situation is in the hands of the bears, and bitcoin is unlikely to grow in the next week.
It is unlikely that the cost of BTC will fall below $24,000, but will not be able to rise above $28,000, that is, the price of the asset will fluctuate in this range in the next seven days.
The negative scenario is that a criminal prosecution of Binance could be launched, which former SEC lawyer John Reed Stark warned about. This will lead to a massive outflow of funds from the crypto exchange, hit the crypto market, and the bitcoin rate will be able to drop to $20,000, which is the level of the average cost of its production in the regions.
The positive scenario is that the situation will calm down for several months, there will be no criminal prosecution in the coming weeks, and Bitcoin will be able to strengthen its position and return to $28,000, perhaps even test $30,000. But for now, such an opportunity is seen at best in perspective of three to four weeks.
Support and resistance levels
CEO Cryptorg Andrey Podolyan
The first goal of this week is to bring back the Friday, June 9th close on the CME (Chicago Mercantile Exchange Group). It was $26.47 thousand.
Then, up to $27,000, there is dense saturated resistance. It will be very difficult to overcome this level.
The support lines of the first cryptocurrency are currently at the levels of $25.2 thousand and $24.4 thousand.
This week, the market expects increased volatility on June 14th. On this day, the meeting of the Federal Open Market Committee of the US Federal Reserve (FOMC) will be held and the decision on the US interest rate will be published.
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