Bitcoin and Ethereum Relatively Muted, APE and BTT Rally
After declining below the USD 21,000 level, BTC stayed above the USD 20,500 support zone and managed to surpass USD 21,000 again. It is currently (11:47 UTC) trading in a range near USD 21,000 and is down almost 2% in a day and up 2% in a week.
Similarly, most major altcoins are stuck above key supports. ETH is back above USD 1,200 but faces hurdles near USD 1,250. XRP is now trading just below the USD 0.35 pivot level. ADA is still at a risk of more losses unless it reclaims USD 0.50.
Total market capitalization
After another downside correction, bitcoin price traded below the USD 20,800 level. BTC even tested the USD 20,500 zone, where the bulls took a stand. On the upside, the price is facing resistance near the USD 21,200 zone. The next major resistance is now near USD 21,500, above which the price could start a steady increase.
On the downside, an initial support is near the USD 20,500 level. The next major support is near the USD 20,000 zone, below which there is a risk of a larger decline.
"As we approach the end of June, USD 2.5bn in open interest of BTC options expired last week bringing volatility across the asset class. All eyes will be on the next meeting of the Federal Reserve and with current indications pointing to a possible increase in the interest rate, it's likely that risk assets like cryptocurrency could continue to slide. Typically, crypto is the first to sell-off, followed by the wider global equities markets," Steve Gregory, CEO of the Currency.com exchange, said.
Ethereum price traded below the USD 1,200 support zone. ETH found support near the USD 1,160 level and stayed above the USD 1,150 support. It is back above USD 1,200 and is facing a strong resistance near the USD 1,250 level. ETH is unchanged
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