Crypto Express

06/17 00:43

Bitcoin Price Rebounds Above $108k

Bitcoin Price Rebounds Above $108k on Heightened Institutional Demand: Is It a Dead-Cat-Bounce?

Whales Selling, Retail Buying Is Bitcoin Price at $109k on Crossroads

On-chain data shows Bitcoin recorded over $1.3 billion in cash inflows last week.

BTC price faces a local resistance range between $109k and $111.8k. 

Bitcoin (BTC) price rallied over 3 percent, on Monday, June 16, to trade about $108,551 during the mid-North American session. The flagship coin broke out of a consolidation formed during the weekend after teasing potential capitulation following the Middle East tension.

As a result of today’s rebound, optimism of further market rally increased traders’ greed. Moreover, Bitcoin and the wider cryptocurrency market are well-positioned to benefit from the rising global money supply amid anticipated Quantitative Easing (QE) in the United States.

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