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Cryptocurrency

Bitcoin price due for break below $30K trader warns after 9% daily loss

June 8, 2021. Summarized by summa-bot.

Compression ratio: 32.7%. 1 min read.

Bitcoin price action is below key moving averages and targeting "sub $30,000," warn analysts.

Bitcoin (BTC) traded worryingly near $30,000 support on June 8 amid fresh predictions of incoming lows.

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair lost 9% overnight on Monday.

As Cointelegraph reported, traders are already on edge over a potential “death cross” involving two key moving averages which could spell further downside.

“This metric has *always* marked the end of a bull run and the start of a bear market,” he added in comments on Monday.

by summa-bot

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