Friday slump continues: Bitcoin drops over 1%, aligning with six-month trend

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Fast Take

Bitcoin skilled a notable dip beneath $64,000 on Friday, June 21. In accordance with Velo’s knowledge protecting the final six months, Friday has traditionally been the second worst-performing day of the coin, with a median decline of -0.5%. This current drop of over 1% aligns with this development. Tuesday, nonetheless, fares even worse, with a median decline of -2%, marking Tuesday because the least favorable day for Bitcoin throughout the identical interval.

Friday slump continues: Bitcoin drops over 1%, aligning with six-month trend — BTC 6m Common Return By Day: (Supply: Velo Information)

Extending the evaluation to a one-year timeframe, Friday continues to indicate a barely unfavorable efficiency, though much less extreme, averaging a decline of -0.4%. Tuesdays stay probably the most difficult day for Bitcoin traders over this prolonged interval.

BTC 1Y Average Return By Day: (Source: Velo Data) — BTC 1Y Common Return By Day: (Supply: Velo Information)

Within the instant time period, Bitcoin must reclaim the $64,097 mark to surpass the short-term holder’s realized value. This stage is crucial for signaling potential restoration and gaining optimistic momentum amongst short-term traders.

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