{"id":468726,"date":"2022-06-29T10:36:50","date_gmt":"2022-06-29T07:36:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness\/"},"modified":"2022-06-29T10:36:50","modified_gmt":"2022-06-29T07:36:50","slug":"bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness\/","title":{"rendered":"# Bitcoin price limps under $20K as Asia extends global stocks weakness"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bd70d1e4f9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bd70d1e4f9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness\/#%E2%80%9D_Bitcoin_price_limps_under_20K_as_Asia_extends_global_stocks_weakness_%E2%80%9C\" >&#8221; Bitcoin price limps under $20K as Asia extends global stocks weakness &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness\/#Traders_looks_to_19500_for_support\" >Traders looks to $19,500 for support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness\/#Stocks_continue_downhill\" >Stocks continue downhill<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_limps_under_20K_as_Asia_extends_global_stocks_weakness_%E2%80%9C\"><\/span>&#8221; Bitcoin price limps under $20K as Asia extends global stocks weakness &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) returned under $20,000 on June 29 as analysts stayed hopeful of a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/ffa20b9e-ad45-4f94-9782-174944704183.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Traders_looks_to_19500_for_support\"><\/span>Traders looks to $19,500 for support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> followed BTC\/USD as it crossed below the $20,000 mark for the first time in nearly a week in Asian trading hours.<\/p>\n<p>The weakness followed rangebound behavior near $21,000, this characterizing a market still in tune with moves in global equities.<\/p>\n<p>The S&amp;P 500 had finished its previous session down 2%, while the Nasdaq Composite Index lost 3%. On the day, Hong Kong\u2019s Hang Seng was likewise 2.1% lower, while China\u2019s Shanghai Composite Index traded down 1.4%.<\/p>\n<p>With few bullish cues coming from macro, Bitcoin thus had little stopping it from revisiting the lower end of a range in place for several weeks.<\/p>\n<p>\u201cBitcoin is giving that correction, was anticipating a potential low at $20.3K,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe wrote in part of his latest Bitcoin-focused <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1542028977384177664\">Twitter update<\/a>. <\/p>\n<blockquote><p>\u201cWe get $20.1K as that&#8217;s the second important one\u2026 Would like to see it hold here and see additional confirmation on LTF. If it doesn&#8217;t, $19.3-19.5K next for support.\u201d<\/p><\/blockquote>\n<p>Zooming out, other sources were still optimistic about the potential for an assault on resistance further up.<\/p>\n<p>For on-chain analytics resource Material Indicators, this could still come in the form of challenging the 200-week moving average, a key bear market support level, which had begun to function as resistance in June.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Trend Precognition is flashing a pretty strong Long signal on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> Weekly chart. Signal won&#8217;t print until the W candle closes, but indicates that we could see a run at the 200 WMA this week. H<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y to test the lows first. For me, sub $17.5k invalidates. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/NFA?src=hash&amp;ref_src=twsrc%5Etfw\">#NFA<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/hvs1as44qG\">pic.twitter.com\/hvs1as44qG<\/a><\/p>\n<p>\u2014 Material Indicators (@MI_Algos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1541918589606940674?ref_src=twsrc%5Etfw\">June 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Stocks_continue_downhill\"><\/span>Stocks continue downhill<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Focusing on macro, commentators argued that with little certainty about economic strength available, risk assets such as crypto would continue to suffer on longer timeframes.<\/p>\n<p><strong><em>Related:\u00a03 charts showing this Bitcoin price drop is unlike summer 2021<\/em><\/strong><\/p>\n<p>The mood followed a prediction from Big Short investor Michael J. Burry that the U.S. Federal Reserve would abandon its inflation-busting quantitative tightening (QT) policy in 2022 and return to more accommodative conditions.<\/p>\n<p>\u201cDeflationary pulses from this- -&gt; disinflation in CPI later this year &#8211;&gt; Fed reverses itself on rates and QT &#8211;&gt; Cycles,\u201d part of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michaeljburry\/status\/1541419336677462016\">tweet<\/a> published June 27 reads.<\/p>\n<p>Only a clear boon for risk assets would therefore cut Bitcoin and altcoins some slack, popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account TXMC Trades responded, this perspective <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stackhodler\/status\/1539133188953493509\">echoing views<\/a> of various commentators including former BitMEX CEO, Arthur Hayes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Despite the dreams of decouploors, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is unlikely to grow in a sustained way unless the economy also shows significant improvement, as they are undeniably linked.<\/p>\n<p>With regional data slipping toward contraction, the near term path remains unattractive. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qpuPsYm07P\">https:\/\/t.co\/qpuPsYm07P<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/WT3TjKHiKD\">pic.twitter.com\/WT3TjKHiKD<\/a><\/p>\n<p>\u2014 TXMC (@TXMCtrades) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TXMCtrades\/status\/1541819235059613697?ref_src=twsrc%5Etfw\">June 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-limps-under-20k-as-asia-extends-global-stocks-weakness\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price limps under $20K as Asia extends global stocks weakness &#8220; Bitcoin (BTC) returned under $20,000 on June 29 as analysts stayed hopeful of a trip higher. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders looks to $19,500 for support Data from Cointelegraph Markets Pro and TradingView followed BTC\/USD as it crossed below&#8230;<\/p>\n","protected":false},"author":1,"featured_media":468727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvZWJjOGEyMTItMWRkMi00Y2Q1LTg3NTctNTU2NWJhZDQ1ZDgyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70550,73785,70359],"class_list":["post-468726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-federal-reserve","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/468726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=468726"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/468726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/468727"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=468726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=468726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=468726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}