BTC price rejects at $23K as US dollar declines from fresh 20-year highs

BTC price rejects at $23K as US dollar declines from fresh 20-year highs


Bitcoin (BTC) ran out of steam near $23,000 on June 16 after the biggest United States key rate hike in nearly thirty years.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar strength wobbles after rate hike news

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $22,957 on Bitstamp after the Federal Reserve confirmed a 0.75% hike in June — its largest since 1994.

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Momentum did not last long, however, and at the time of writing, the pair had shed $2,000 to return to $21,000 at the new Wall Street open.

$BTC Did indeed fail to hold the mid range and fell back to the range low which it has held so far.

This range low is my line in the sand if BTC doesn’t want to revisit the

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