🚨 Bitcoin Alert! 🚨 BTC Dips to $64K, Wrecking Noobs Big Time: Time to Buy? 📉💸

Bitcoin Hits New 1-Month Low of $64K on June 18th 📅, sliding to $64,000 after an unsuccessful attempt to surpass $67,000.

Data from Cointelegraph Markets Pro and TradingView showed significant BTC price fluctuations during Wall Street’s trading session. Bitcoin briefly climbed to $67,250 before sellers drove it down to $64,050, the lowest level since May 15.

Prominent trader Skew observed, “The bounce was led by Coinbase spot and some buying from Bitfinex. However, Binance spot is still under selling pressure. The $66K-$67K range is crucial; failing to hold could lead to further price declines.”

Despite this, Skew noted that such price sweeps are not uncommon. He added, “Spot premiums are good, and funding rates are low, indicating a potential buying opportunity.”

Monitoring resource CoinGlass highlighted fluctuating liquidity conditions, with slightly positive funding rates suggesting a bullish outlook. "Buy the dip," the platform advised its X subscribers.

Trader Credible Crypto pinpointed a “dream” buying zone around $63,500, although he cautioned that prices might not drop that low. “We could still dip into the ‘dream long’ zone, but it might get front-run,” he mentioned, advising followers to watch for low timeframe impulse moves.

A key support trendline, crucial for analysts like Checkmate from Glassnode, now sits at $63,700. This short-term holder realized price (STH-RP) has supported BTC price action since early 2023. Checkmate remarked, “It’s hard to be too worried when unrealized losses look like this. The situation could worsen, but it hasn't yet.”

While the recent drop to $64,000 has stirred mixed reactions, some traders see it as a buying opportunity. As always, investors should perform their own research before making any trading decisions.
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