Arbitrum Struggles to Regain $1 Psychological Level Amidst Bearish Outlook

06/19 03:50

June 19 (Huobi) - Arbitrum (ARB) has been struggling to regain its $1 psychological level after dropping below it when Bitcoin (BTC) retested $24k on June 10. Long positions have been discouraged in the past 12 hours, and over $100k worth of long positions were wrecked compared to less than $10k of short positions, painting a bearish outlook for ARB. Shorting at the range high could offer a good risk ratio, but tracking BTC price action before making moves is crucial.

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