Matrixport: The possibility of BTC retesting $73,392 is gradually increasing
ChainCatcher News, Matrixport stated today that despite Bitcoin's strong resilience, the possibility of it retesting the 38.2% Fibonacci retracement level (about $73,392) is gradually increasing. Currently, Bitcoin has been repeatedly blocked at the 23.6% retracement level (about $87,000), which has become a key resistance.
The report pointed out that Trump's latest tariff policy triggered widespread market liquidation and increased risk aversion sentiment, both of which put pressure on Bitcoin prices. In addition, heightened concerns about inflation among U.S consumers and recent hints from Federal Reserve Chairman Powell to maintain current interest rate stance may limit the space for Bitcoin to benefit from loose policies in the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Overview of Key Developments at Noon on June 16
Overview of Key Overnight Developments on June 16
HSBC: RWA Tokenization on Public Blockchains Expected to Surge in the Next 2-5 Years
Trending news
MoreCrypto prices
More
