Bitcoin's Price Volatility Continues Amidst Regulatory Uncertainty and Fed Rate Hike Fears.
TL;DR Summary
Bitcoin's price fell below $27,000 due to large-volume trades and increasing market expectations of an interest rate hike by the US Federal Reserve in June. Traders are now waiting for a break above $27,500 or a close below $26,600 to make a move. The long/short ratio is currently above 2, which needs to be resolved before things start looking bullish. The 100-day moving average and the 200-week moving average at $26,100 could form a downside support zone.
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