Bitcoin price retested $ 10,000 amid Fed statements

06/10/2020

ForkLog

On June 10, the price of bitcoinonce tested the $ 10,000 mark. Within an hour, the quotes managed to overcome this level, go down to $ 9570 and return to the $ 9800- $ 9900 range.

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BTC / USD, TradingView chart

Trader Sam Trabucco noted that the movementwere provoked by aggressive buyers, who probably entered long positions with large leverage. As soon as they ran into resistance around $ 10,000, a cascade of liquidations began on BitMEX, at the moment the price collapsed to $ 9500- $ 9600.

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Some analysts have linked the sharp pricemotion with a statement by Fed Chairman Jerome Powell. The US central bank left the key rate at 0-0.25% and assumed that this state of affairs will continue until the end of 2022 due to high unemployment. Powell stressed that the fall in US GDP in the second quarter could be record-breaking.

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