#BTC #BTCUSDT #TradingSignals

Analysis of Coin BTC News June 1, 2024: Slight fluctuations, short-term trend unclear

⭐BTC price:
Current: $67,618.83 (Binance)
Up 1.1% in the last 24 hours
24-hour trading volume: $26.96 billion USD
Market capitalization: $1,332.51 billion USD

👉News:
A sense of pessimism pervades the cryptocurrency market: According to Cointelegraph, market sentiment remains gloomy as investors worry about tightening US monetary policy and a potential recession. This puts both Bitcoin and other altcoins under selling pressure.
However, there are still some positive signs: Bitcoin Magazine reports that the number of Bitcoin whales (those holding more than 1,000 BTC) increased to an all-time high in May. This shows confidence Long term into Bitcoin remains strong.
North America's Largest Bitcoin Mining Company Marathon Digital Holdings Announces Acquisition of 5,000 BTC: CNBC reported that Marathon Digital Holdings purchased 5,000 BTC at an average price of about $23,900 per BTC. This purchase shows the company's confidence in Bitcoin's long-term prospects.

🔥Technical analysis:
The BTC/USD price chart is fluctuating in the symmetrical triangle area. The MACD line is creating a bearish divergence, suggesting that the bullish momentum may be weakening. The RSI indicator is at 50, showing a neutral market. We can buy in the 66k-67k price range and maybe next week there will be a slight increase to the 70k-71k range and then if we continue to break through this zone, BTC may reach a new peak.

👍Conclude:
The BTC market is currently in a period of short-term fluctuations with an unclear trend. Investors should be cautious and closely monitor news and technical analysis before making trading decisions

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