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Bitcoin and Ethereum the moment of truth: the stock market tip of the day

“Bitcoin and Ethereum have returned to close to major supports… not to be broken down, otherwise there will be a downward acceleration. With the decryption of Vincent Ganne and Christophe Machinot, members of AFATE”.

“Ethereum (ETH) and Bitcoin (BTC) are struggling. The former has melted since the breaking of the horizontal support at $ 2,280, while the latter flirts dangerously with the $ 30,000 mark”.

“The general stock market environment is becoming tense with uncertainty around the outlook for monetary policy. The dollar, bond yields, and equity market volatility increased”.

“Naturally, this framework is not favorable to the end of the corrective process in which cryptocurrencies have been locked up since May ”, notes in this regard Vincent Ganne, market strategist, technical analyst of financial markets, and trainer, member of the French Association of Technical Analysts”.

“For the fundamentals specific to cryptocurrencies, China continues to hit Bitcoin, banning mining in Sichuan province. “Mining is the heart of cryptos and China a central country for this activity. On a technical level, this week is very important for institutional traders, with a very high open interest in Bitcoin options maturing, especially on Friday, June 25. Institutional investors are still not moving back to buying, despite the return of prices to their lowest ”, warns the expert…

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