Bitcoin playing with $20,000

The second quarter of 2022 is finally over. Bitcoin ended the quarter down 56%, the second-worst in its history and the worst in 11 years. The uncertain macroeconomic outlook and the contagion effects in the crypto market are likely not over.

Bitcoin is still playing with the $20,000 level. After losing this level in the middle of last week, we saw a somewhat interesting close of June with an intraday price spike, followed by yesterday’s price action, which took us back above this "key" price level. Bitcoin ends the last seven days with a slight decline of 2.3%.

Unsurprisingly, both Bitwise and Grayscale got their spot-based bitcoin ETF applications rejected last week. Grayscale answered by suing the SEC, and the fight for the first spot-based bitcoin ETF in the U.S. continues.

Source: Tradingview (Coinbase, Binance US)

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