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The financier predicted the movement of bitcoin in the range of $ 62-67 thousand this week.

Loboda: the main guideline of the week for the cryptocurrency market is the level of $62 thousand.
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Photo: IZVESTIA/Yulia Khramtsova
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In the period from June 22 to 28, bitcoin is highly likely to trade in the range of $ 62 thousand to $67 thousand. The nearest support remains the level of $ 62.3 thousand, and resistance is located in the zone of $ 66-67 thousand. This was stated to Izvestia on June 22 by Andrey Loboda, a member of the RASO and the commission on mining and blockchain technology of the Finance and Investment Committee of the CCI of the Russian Federation.

"Bitcoin enters the new week with cautious optimism, but under pressure from sellers. Monday's opening showed an increase to $64,832, but the price has already fallen back to $64,050. The recovery from the low of $62,272 is corrective, not impulsive," the expert said.

According to him, geopolitical factors have an additional impact on investor sentiment. The negotiations between the United States and Iran, which took place on June 21 in Switzerland, remain in the focus of the market. Despite the framework agreements reached and the creation of working groups, the parties have not yet made final decisions. Market participants perceive the situation with restraint: risks remain, but there is no threat of immediate escalation.

In addition, capital outflows from spot bitcoin ETFs have become a negative signal. Over the past week, investors have withdrawn more than $227 million from such funds. There is also a negative trend in the inflow of new capital into the cryptocurrency ecosystem.

At the same time, the expert drew attention to the positive signals. In particular, the interest of institutional investors in digital assets remains. This was confirmed by a new application from the investment company Franklin Templeton to launch a bitcoin ETF with a dividend reinvestment strategy.

One of the main events of the week for financial markets will be the publication on June 25 of an updated estimate of US GDP for the first quarter and data on the PCE inflation indicator. It is these indicators that can influence expectations regarding the Fed's further actions and set the direction of movement for both the cryptocurrency market and the technology sector.

The expert stressed that in order to form a stable upward trend, bitcoin needs to gain a foothold above the $67 thousand mark. In turn, overcoming the $70,000 level will be the first signal for a full-fledged market recovery. Until then, any rebounds, in his opinion, should be considered as corrective movements rather than as the beginning of a new stage of growth.

Deputy Finance Minister Ivan Chebeskov announced on June 16 that unqualified investors in Russia will soon be able to legally buy bitcoin, ether and popular stablecoins. After almost ten years of discussions and disputes, including the idea of a total ban, the authorities are moving to comprehensive regulation of the cryptocurrency market.

Переведено сервисом «Яндекс Переводчик»

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