Despite the short-term rebound, market structure and on-chain data do not yet confirm the formation of a sustained uptrend. Bitcoin remains vulnerable to further declines, as a solid bottom has yet to be established. There is still insufficient demand from large investors for the leading cryptocurrency. Bitwise believes that Bitcoin’s recent decline reflects broader trends in financial markets and is not solely attributable to issues within the crypto industry.

There was a 4.2% annual increase in the US Consumer Price Index (CPI) in May, according to figures released on Wednesday. Some analysts now expect rate hikes later this year. Bitcoin prices have fallen 36% since January and gold is down 23%. Crude oil prices have surged more than 50%.

Pres. Trump claims the US will be taking Iranian oil and gas infrastructure. The 10-year yield could be interesting to watch today, as Pres. Trump makes comments about taking Iran's oil and natural gas infrastructure, which could affect the 10-yen yield.

Alessandro Lavarello has been a professional trader since 2007. He worked in the trading rooms of Twice Sim and IWBank. In 2016 he discovered the crypto economy and dedicated himself to the study and dissemination of topics related to blockchain and cryptocurrencies. He is a startupper and shareholder of Noisefeed, a company in the analysis of injury data in the world of football.

There is a significant decline in the percentage of circulating supply held in profit in Bitcoin market. Bitcoin's price has dropped to $61,000. Bitcoin is showing decent liquidity clusters to both upside and downside. On the upside, Bitcoin has short-side liquidity around the $64,000 to $66,500 zone, while on the downside, it has long side liquidity around $58,000-$60,000 zone.