Bitcoin price risks $29K ‘nosedive’ as Wall Street opens with fresh losses

Weakness across markets means fresh bad news for Bitcoin, with analysts struggling to find any positive news.
Bitcoin (BTC) lost bullish momentum at the June 1 Wall Street open as United States equities faced another day of retracement.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewZooming out, “nothing” has changedData from Cointelegraph Markets Pro and TradingView captured a sharp U-turn for BTC/USD at the start of trading, $1,600 in three hours.At the time of writing, the pair traded at around $30,400, giving back the past days’ gains.For Cointelegraph contributor Michaël van de Poppe, $29,000 was now on the radar after support levels refused to cushion Bitcoin’s initial fall.”Very simple, Bitcoin needs to hold here to have a test at $33K area possible,” he tweeted as BTC/USD reached $31,150. “If not, this is going to nosedive quite fast to $29K range.”The mood down surprised hardly anyone despite the recent

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