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06/21/21 [Market overview + BTC] Does the BTC correction end?

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What value could BTC reach this year, and where will it stop significantly, the whole community is arguing across the Internet. Will it be at 20k? Or $ 100,000?

The global cryptocurrency market capitalization is $ 1.49 trillion, a decrease of 0.67% over the last day.
The total volume of cryptocurrencies over the last 24 hours is $ 78.74 billion, an increase of 9.95%. The total volume in DeFi is currently $ 5.92 billion, which is 7.51% of the total 24-hour volume of the cryptocurrency market. The volume of all stable coins is now $ 62.01 billion.

The dominance of bitcoins is currently 44.81%, a decrease of 0.12% per day.

The best growth from the top 100 capitalization of yesterday’s record:

06/21/21 [Market overview + BTC] Does the BTC correction end?

The biggest drop yesterday from the top 100 capitalization was recorded by:

06/21/21 [Market overview + BTC] Does the BTC correction end?

Technical analysis: BTC

Over the last 2 days, BTC has risen 11.2%, ending support at $ 36,980. As you can see in the chart, BTC successfully broke the support line of triangles, which gave it value today $ 34,000. We have short resistance at the price again 36,980 USD and after breaking it $ 41,500 which is a monthly high.

As far as my view is concerned, the resistance to $ 41,500 should slow BTC for a while and I expect a slight decline. A short drop should help BTC inhale and break through resistance for the third time and move BTC to stronger resistance to $ 50,000. On Sunday, however, we finally see a rebound from the support zones to 34,000.

06/21/21 [Market overview + BTC] Does the BTC correction end?

What value could BTC reach this year, and where it will stop significantly, the whole community is arguing across the Internet. Will it be at 20k? Or $ 100,000? But one thing is certain, a lot of bullish fundamentals are needed for growth, which is well shown by 2019, when we rose from $ 3,200 to $ 14,000 in just 6 months. Is $ 20,000 unrealistic? It would not be unusual in a crypto market, a sharp drop of tens of percent is commonly seen on BTC, and a fall of 80% is also not unusual.

ATTENTION: No data in the article is an investment board. Cryptheory team strongly recommends individual risk considerations.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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