Bulls hesitate to buy the dip after Bitcoin price falls close to $35K

On June 18, Bitcoin (BTC) and traditional markets faced another day of downward pressure comments from the United States Federal Reserve about the possibility of raising interest rates sooner than expected has led to a spike in the price of the U.S. dollar at the expense of risk assets and treasury notes.

The Fed doesn’t deserve all the bla, however, as concerns about a further downturn for BTC have been building for weeks with much of the discussion focused on the approaching death-cross and what it means for the future of Bitcoin.

BTC/USDT 4-hour chart. Source: TradingViewCrypto Fear and greed index. Source: Alternative.meAll exchanges netflow of Bitcoin. Source: CryptoQuantTotal Bitcoin supply held by long-term holders. Source: GlassnodeBitcoin retracement after 2019 death-cross. Source: Twitter

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