Bitcoin retests $37K support, gold and stocks drop lower over Fed comments
Cointelegraph
Published Jun 17, 2021 07:24PM ET
Updated Jun 18, 2021 05:20AM ET
Bitcoin (BTC) price dropped another notch to $37,365 today after a failed attempt by bulls to retake the $40,000 level. The renewed slump comes as the stock market and commodities also pulled back as a result of Federal Reserve Chair Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation which led to pdeclines for both Bitcoin and gold.
Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC climbed from $38,200 in the early trading hours on Thursday to a high above $39,500 by midday before being pummeled down to a low of $37,365 as bears took control of the market.
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Written By: Cointelegraph
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