📍MARKET UPDATE 6/7
Let's take a look at the price movements over the past few days 👇👇
1️⃣ $BTC plummeted at the time of the news that the SEC sued Binance. After that, it rose sharply back to the original level.
2️⃣ Trading volume is above average.
3️⃣ The market synced with BTC movements.
$BTC formed a V reversal.
👉 It seemed that $BTC broke out of the 26k2 - 27k4 liquidity area to continue its downward journey, but the huge buying force pushed BTC back to the original level as if nothing had happened.
$ETH outperformed $BTC.
👉 The market during the recent V bottom has shown us the phase difference between ETH and BTC. Specifically, BTC has fallen through the cumulative bottom in May, while ETH has only barely dropped to that bottom, even slightly above the lowest price.
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Disclaimer: This is not investment advice. All trading decisions rest with the individual trader, so please Do Your Own Research before investing your assets.