Bitcoin may suffer if $20,300 fails to hold as one dollar becomes worth more than one euro.
The pair had nonetheless locked in itsFor on-chain analytics resource Material Indicators, the level to watch was a trendline acting as support since June.in a summation-like Twitter post alongside a heatmap of buy and sell interest on major exchange Binance.
“FireCharts shows some bid liquidity in close range, but it may not be enough. If price falls below the trend line, prepare for new lows.”Others predictably focused on the July 13 United States Consumer Price Index data release, this tipped to spark downside across risk assets should June’s inflation significantly outpace estimates.
Blockware analyst Joe Burnett additionally highlighted the potential for miners, already facing tight margins, to capitulate more heavily should BTC price action beat its prior lows.If CPI comes in hot, US equities make new lows, and Bitcoin drops sharply below $20k, get ready for the next wave of capitulations.
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