{"id":469345,"date":"2022-07-01T10:48:52","date_gmt":"2022-07-01T07:48:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive\/"},"modified":"2022-07-01T10:48:52","modified_gmt":"2022-07-01T07:48:52","slug":"bitcoin-price-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive\/","title":{"rendered":"# Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive"},"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-6a3c463caa7f5\" 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-6a3c463caa7f5\" 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-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive\/#%E2%80%9D_Bitcoin_price_June_close_barely_beats_2017_high_as_Coinbase_Premium_flips_positive_%E2%80%9C\" >&#8221; Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive &#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-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive\/#Analyst_Bitcoin_could_stay_%E2%80%9Cboring%E2%80%9D_for_months\" >Analyst: Bitcoin could stay &#8220;boring&#8221; for months<\/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-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive\/#Coinbase_Pro_buyers_step_up_metric_suggests\" >Coinbase Pro buyers step up, metric suggests<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_June_close_barely_beats_2017_high_as_Coinbase_Premium_flips_positive_%E2%80%9C\"><\/span>&#8221; Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) finished June 2022 just below $20,000 after a last-minute pump saw bulls escape 40% monthly losses.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/cd398c5b-f9d4-413a-851c-d871f96cd4b8.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=\"Analyst_Bitcoin_could_stay_%E2%80%9Cboring%E2%80%9D_for_months\"><\/span>Analyst: Bitcoin could stay &#8220;boring&#8221; for months<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> showed BTC\/USD spiking higher into the monthly close, which came in at $19,924 on Bitstamp.<\/p>\n<p>With that, the pair narrowly avoided its first-ever monthly close below a previous halving cycle\u2019s all-time high. On Bitstamp in November 2017, Bitcoin reached <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>roximately $19,770.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Right on time. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/KxZiOF0kF8\">pic.twitter.com\/KxZiOF0kF8<\/a><\/p>\n<p>\u2014 Material Indicators (@MI_Algos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1542658103291908096?ref_src=twsrc%5Etfw\">June 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The success was at best touch-and-go for a market which nonetheless sealed its worst monthly losses since September 2011, these coming in at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/today\">around 37.3%<\/a>. It was also short lived, with BTC\/USD diving toward $19,000 at the time of writing on July 1.<\/p>\n<p>\u201cSteadily carving out a cycle bottom here,\u201d Philip Swift, indicator creator and analyst at trading suite Decentrader <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1542679127618093058\">summarized<\/a> in part of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> comments after the close.<\/p>\n<p>Bitcoin\u2019s weakness came as United States equities saw dismal results of their own. Q2 2022, commentators noted, was the worst since 1970 for the S&amp;P 500, while the Nasdaq saw its weakest H1 since 1998.<\/p>\n<p>\u201cAdjusted for inflation, 2022 first half S&amp;P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%,\u201d Big Short investor Michael J. Burry <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michaeljburry\/status\/1542603312867905538\">reacted<\/a>. <\/p>\n<blockquote><p>\u201cThat was multiple compression. Next up, earnings compression. So, maybe halfway there.\u201d<\/p><\/blockquote>\n<p>Burry had previously forecast that U.S. monetary policy, currently fixed on driving up interest rates to fight inflation, would be forced to change course before the end of the year.<\/p>\n<p>&#8220;Bottoming\/accumulation signals everywhere, Major funds\/lenders going bust, Worst quarter ever, Nocoiner haters dunking on us, Whole timeline saying this time is different,&#8221; William Clemente, lead insights analyst at Blockware, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1542687024288768000\">told<\/a> Twitter followers. <\/p>\n<blockquote><p>&#8220;If we are finding an accumulation zone, will likely still see months of boring &amp; capitulation through time.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/021479db-65d0-40cd-9dea-695e8e90227a.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD monthly returns chart. Source: Coinglass<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Coinbase_Pro_buyers_step_up_metric_suggests\"><\/span>Coinbase Pro buyers step up, metric suggests<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among institutional investors, however, there was fresh evidence that BTC was a &#8220;buy&#8221; at $20,000.<\/p>\n<p><strong><em>Related:\u00a0&#8216;Can&#8217;t stop, won&#8217;t stop&#8217; \u2014 Bitcoin hodlers buy the dip at $20K BTC<\/em><\/strong><\/p>\n<p>As noted by on-chain anaytics platform CryptoQuant, the so-called &#8220;Coinbase Premium&#8221; returned to positive territory for the first time in two months on June 30.<\/p>\n<p>The Premium is the difference between the BTC price on major exchange Binance and U.S. exchange Coinbase&#8217;s institutional arm, Coinbase Pro.<\/p>\n<p>When positive, it means that investors are paying more on Coinbase Pro, suggesting heightened demand. The Premium stood at 0.217 as of June 30.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/5d654397-cb40-4193-b78f-c0daa64237a2.png\"><figcaption style=\"text-align: center;\"><em>Coinbase Premium vs. BTC\/USD chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>&#8220;This uptick does not indicate a bull run but obviously, it tells us there are institutional buyers in this price range,&#8221; CryptoQuant&#8217;s CEO, Ki Young Ju, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1542671680098770944\">commented<\/a> on the data.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1542671680098770944\/photo\/1\"><\/a><\/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-june-close-barely-beats-2017-high-as-coinbase-premium-flips-positive\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive &#8220; Bitcoin (BTC) finished June 2022 just below $20,000 after a last-minute pump saw bulls escape 40% monthly losses. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Bitcoin could stay &#8220;boring&#8221; for months Data from Cointelegraph Markets Pro and TradingView showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":469346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZDAwMzY4YjItM2RmYi00YTg2LWJiZWEtNjYyY2YxNjMyZTM4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74956,73785],"class_list":["post-469345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-coinbase","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/469345","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=469345"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/469345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/469346"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=469345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=469345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=469345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}