Bitcoin headed toward a \u201ccrucial area\u201d after the June 16 Wall Street open, as a recovery from three-month lows continued.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD nearing $26,000 on Bitstamp.<\/p>\n The Bitcoin (BTC<\/a>)\u00a0price built on an overnight rebound from its lowest levels since early March amid ongoing regulatory<\/a> and macroeconomic pressures<\/a>. <\/p>\n For Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, $26,000 represented a key level for bulls to flip next.<\/p>\n \u201cLong weekend is coming up with the bank holiday on Monday,\u201d he told<\/a> Twitter followers, referencing the Juneteenth holiday in the United States.<\/p>\n \u201cFor Bitcoin, crucial area to break is $26K. If that breaks, we\u2019ll have some acceleration. I\u2019m still long, would still long if we reach $24.4K too.\u201d<\/p>\n That $24,400 downside area of interest was already in focus<\/a> for various popular traders.<\/p>\n Among them was Daan Crypto Trades, who predicted a return closer to $26,000 as part of a narrowing wedge structure in place on lower timeframes.<\/p>\n #Bitcoin<\/a> Low timeframe:<\/p>\n Struggling to break the Weekly VWAP so far.<\/p>\n You can clearly see how it’s rejecting price every time we’ve touched it.<\/p>\n A break above, should lead to a next leg into the May lows around 25.8-25.9K.<\/p>\n Support sits at $25.3K. pic.twitter.com\/kIjeRdaMiN<\/a><\/p>\n \u2014 Daan Crypto Trades (@DaanCrypto) June 16, 2023<\/a><\/p><\/blockquote>\n \u201cThis dip into $24,000 is a great opportunity,\u201d fellow trader Jelle wrote in part of the day\u2019s tweets, adding that the Twitter user was \u201cready for the bull market.\u201d<\/p>\n My game plan remains unchanged.<\/p>\n I started buying around $16,500, and so long as we trade below $30,000 – I will continue to buy on pullbacks.<\/p>\n This dip into $24,000 is a great opportunity.<\/p>\n Bought more #Bitcoin<\/a> – ready for the bull market. pic.twitter.com\/R78ZUu7SPI<\/a><\/p>\n \u2014 Jelle (@CryptoJelleNL) June 16, 2023<\/a><\/p><\/blockquote>\n June 16, meanwhile, marked another test for major exchange Binance, with France launching investigative proceedings hours after an announcement that Binance would quit the Netherlands altogether<\/a> over regulatory difficulties.<\/p>\n Related: 3 Bitcoin price metrics showing \u2018insane\u2019 similarities to 2020 breakout<\/a><\/strong><\/em><\/p>\n Markets appeared immune to the news, however, and in characteristic fashion, Binance CEO Changpeng Zhao, known as CZ, called the France episode \u201cFUD\u201d \u2014 fear, uncertainty and doubt.<\/p>\n \u201cFrance, surprise (no advanced notice) on-site inspections of regulated businesses are the norm, for banks, and now for crypto too. The surprise visit for Binance France happened a couple of weeks ago. It’s not \u2018news.\u2019 Binance France cooperated fully,\u201d he tweeted<\/a> on the day. <\/p>\n \u201cBinance also isn\u2019t the only crypto business inspected. This happened to other well known crypto businesses in Paris too. Binance France continues to be our flagship center in Europe.\u201d<\/p><\/blockquote>\n Binance\u2019s in-house token, BNB (BNB<\/a>), appeared similarly resilient<\/a>, climbing to $240 on the day.<\/p>\n![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-06\/07b84fde-4e66-41aa-8c8c-dd5a269df724.png\" "\\"\\"")
Bitcoin reinforces rebound from multi-month lows<\/h2>\n
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Market joins Binance CEO in dismissing France \u201cFUD\u201d<\/h2>\n
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