Why are top Bitcoin traders bullish despite BTC price dip to $64.3K?
Bitcoin whales and miners remain cautiously optimistic, strengthening the bullish case for $64,300 support.
On June 18, Bitcoin’s (BTC) price tumbled 5.6% over the course of the day to $64,300, reaching its lowest level in over a month.
The six-day downtrend coincided with macroeconomic data pointing to a slowdown in the U.S. economy, particularly in retail sales and employment. Meanwhile, the U.S. Federal Reserve has kept interest rates at their highest level in two decades. However, the resilience in the derivatives markets points to a potential BTC price recovery ahead.
U.S. retail sales increased a modest 0.1% from the previous month, below the economists’ consensus of 0.3%, according to Yahoo Finance.
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Author: Marcel Pechman
