Bitcoin’s month-long (BTC) choppy price action came to an end on June 13 after a deep market sell-off pressed the top cryptocurrency under the $29,000 support. The move took place as equities markets also sold-off sharply, hitting their lowest levels of the year.
BTC/USDT 1-day chart. Source: TradingView
Here’s a look at what several market analysts are saying about Bitcoin’s move lower and whether this is the final capitulation event before the long-awaited price bottom.
Is there solid support at $23,000?
Previous instances of bear market capitulation have seen a solid level of support at Bitcoin’s 200-week