Today is the last day of June, the closing day of the second quarter of 2024, and the end of the weekend.
On Sunday, Bitcoin (BTC) unexpectedly led the market volatility. I told you before that Bitcoin contracts are the best choice, Ethereum only occasionally performs, and the growth of those altcoins is not as good as BTC.
To distinguish whether the market is a bull market or a bear market, you only need to pay attention to the movement of BTC. Only when BTC leads the rise, that is the real market rise. Just like the big brother stands up, the younger brothers can follow.
At present, I am not sure whether BTC will fall back to $59,000 again to give you a chance to buy the bottom, but from the technical perspective of the weekly level, BTC seems to be oversold.
Here comes the point: Usually, market volatility will increase tomorrow, but today BTC's volatility suddenly soared by $1,000, which caught people off guard. Now, we are all paying attention to whether BTC can stabilize between $61,300 and $61,000 in the short term. The $62,500 level is still a key resistance level. Only when BTC breaks through and stabilizes at this price level can it have a greater upside potential.
