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Bitcoin has just gone through a historically difficult quarter. For the first time since the third quarter of 2023, Bitcoin recorded a significant decline of 14% in the second quarter of 2024. This drop marks a turning point for the digital currency, which had reached unprecedented heights in March.
Bitcoin: a quarter marked by volatility!
The last trading day of the quarter, June 28, confirmed the bearish trend with a drop of about 9% for June. This period was marked by the expiration of $6.6 billion in Bitcoin options! Adding additional pressure to the market. Despite these challenges, Bitcoin has shown some resilience. It is consolidating above the $60,000 mark, dropping below it only briefly and twice.
The recent drop in Bitcoin can be attributed to several interrelated factors. First, the Bitcoin network was saturated, struggling with a backlog of over…
