Bitcoin hits $37.5K amid warning Thursday will see next BTC price correction
June 10, 2021. Summarized by summa-bot.
Compression ratio: 36.1%. 1 min read.
Bitcoin needs to dip again, and forecasts demand a BTC price drop on Thursday.
Bitcoin (BTC) neared $38,000 in a strong comeback on June 10, but forecasts are mounting over an imminent retracement.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local highs of $37,500 overnight on Wednesday, maintaining higher levels since.
However, despite its gains, few traders believe that Bitcoin will stay strong for long.
As Cointelegraph reported, demands for a dip below $30,000 support have remained in play throughout recent days.
Fellow trader Crypto Cobra meanwhile demands a broad 20% correction for the entire crypto market cap, something of which he remains convinced provided that BTC/USD is below $42,000.
Good news from multiple sources has buoyed the Bitcoin narrative in particular in recent days.