What awaits Bitcoin after a bad start to June?

While Bitcoin (BTC) showed a significant decline at the close of May, all eyes turned to June.

Bitcoin was priced in a very tight area around $68,000 following the Memorial Day holiday in the United States. However, as the markets opened on Friday morning, it fell to a point close to the lowest level of the week, as it was affected by the declines in NASDAQ and SP500.

In contrast, May was a strong month for Bitcoin, rising 11% from $60,000 at the beginning of the month. Analysts, who approach June with uncertainty for now, stated that the data coming this month could be the catalyst for a new movement in Bitcoin's trading range.

This month, the US Federal Reserve (FED) interest rate decision meeting will take place on Wednesday, June 12, 2024 at 21.00 Turkish lira. This date, in particular, is expected to have a significant impact on cryptocurrencies.

However, more clarity is expected to come to the markets in the first week of June, thanks to the US national PMI report and national employment report.

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