Bitcoin price dips 14% in August as trader warns of ‘macro drop down’

Bitcoin price dips 14% in August as trader warns of ‘macro drop down’

Https://cb.run/BSnP Bitcoin price dips 14% in August as trader warns of ‘macro drop down’Bitcoin (BTC) has sealed its worst August performance since 2015 after the monthly candle closed down 13.9%.

BTC/USD 1-hour candle chart (Bitstamp).

Source: TradingView Weekly candle "doesn't look good" Data from Cointelegraph Markets Pro and TradingView confirms that BTC/USD finished the month at $19,990.

A knock to bulls’ efforts to stabilize spot price, the August close was only the second monthly candle finish below the $20,000 mark (depending on the exchange used) since late 2020.

BTC/USD 1-month candle chart (Bitstamp).

Source: TradingView While preserving June’s close as the macro low on the monthly chart, the performance led traders into firmly...