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76642
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2021-06-16

Bitcoin: investor mood and market analysis

The general mood of the cryptocurrency ecosystem is subdued on June 15 with most altcoins trading flat, while Bitcoin ( BTC ) bulls are looking for a daily close above $41,000 as a sign that the market may be shifting in favor of the bulls.

Data shows that the Bitcoin price has risen to $41,330 in the past few hours, but a breakout was quickly achieved through selling at general resistance levels.

Another indicator of investor sentiment, as highlighted by Rekt Capital, is the 200 exponential moving average (EMA), which Bitcoin attempted to cross on Tuesday but was firmly rejected. 

Bitcoin's rejection at the 200 EMA was followed by a sharp sell-off to $39,500, showing that a possible downward move is not out of the question.

While most of the altcoin market saw muted price action on June 15, Shiba Inu (SHIB) gained 33% after it was revealed that trading of the token would be supported on Coinbase Pro on June 17.

Icon (ICX) also received support following the release of a new Ethereum ( ETH ) Virtual Machine (EVM) compatible blockchain called ICE. ICE is expected to become the application hub for the Icon project and will have its own native token.