The price of the leading cryptocurrency Bitcoin [BTC] dropped below $9,000 USD price mark today on 15th June as fresh selling pressure increases across macro assets.
Bitcoin & $9,000 USD Price Bench Mark Resilience
In line with recent data by CoinMarketCap, BTC/USD is entering the $8,000 USD price range for todays trading scale – for the primary time since 28th May.
This recent bearish move follows a difficult week for Bitcoin during which markets almost regained $10k before shedding $800 USD within a matter of hours on Thursday.
After spending the weekend at around $9,400 USD, support gave way another time as the outlook for the week on stock markets looked bleak.
At the reporting time, BTC/USD pair is trading at around $9,100 USD amid an effort to re-establish the extent as support.
Bitcoin & Predicted “Crash” For June
Recently on Sunday, Dow Jones futures alone fell by 900 points, with U.S. markets similarly uncertain before opening.
As reported earlier, Bitcoin has become increasingly resilient to the impact from stocks gaining or losing dramatically, a process which has become referred to as “decoupling.”
Nonetheless, hints of correlation remain, with Bitcoin now at its lowest in over this month . Also as per an another warning last week, the traditional markets were due for a crash-style correction within subsequent three weeks.
At the reporting time, analysts predict that $10,000 USD price benchmark is still expected to return back within the upcoming short term — and perhaps might sustain even strongly for some time.