The post Friday Bitcoin: Exploring Historic Trends and Recent Dip appeared on BitcoinEthereumNews.com.

Quick Take Bitcoin experienced a notable dip below $64,000 on Friday, June 21. According to Velo’s data covering the last six months, Friday has historically been the second worst-performing day of the coin, with an average decline of -0.5%. This recent drop of over 1% aligns with this trend. Tuesday, however, fares even worse, with an average decline of -2%, marking Tuesday as the least favorable day for Bitcoin within the same period. BTC 6m Average Return By Day: (Source: Velo Data) Extending the analysis to a one-year timeframe, Friday continues to show a slightly negative performance, although less severe, averaging a decline of -0.4%. Tuesdays remain the most challenging day for Bitcoin investors over this extended period. BTC 1Y Average Return By Day: (Source: Velo Data) In the immediate term, Bitcoin needs to reclaim the $64,097 mark to surpass the short-term holder’s realized price. This level is critical for signaling potential recovery and gaining positive momentum among short-term investors. Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. Source: https://cryptoslate.com/insights/friday-slump-continues-bitcoin-drops-over-1-aligning-with-six-month-trend/

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Filed under: News - @ June 22, 2024 1:28 am