According to Cointelegraph: Bitcoin kicked off June posting at $67,500 as last-minute fluctuations in BTC price thwarted bulls' attempts at securing a key resistance, although the cryptocurrency retained an 11% monthly gain. The flatness at the close of the month follows a price recovery from weekly lows spurred by concerns over a cryptocurrency exchange hack in Japan and trader-led 'predatory' moves as the month concluded.
US macroeconomic data, namely, the Personal Consumption Expenditures (PCE) index, indicating slowing inflation, failed to significantly lift spirits, despite slightly surpassing expectations. Trading resource Material Indicators pinned the volatility on large-volume traders or Bitcoin whales who toyed with liquidity into the close of the month, producing a failed attempt to flip $69,000 to support.
As predictions for future moves remain cautious, traders not only endured these 'killer whale games in action' but will also have to navigate what has been dubbed 'the great shakeout.'
