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.
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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.
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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.'
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