The cryptocurrency market found itself in a state of cautious optimism on June 28 after Bitcoin (BTC) price briefly spiked above $35,500, renewing hopes that the bull trend will resume shortly.
Despite the bullish move, some analysts have warned that the failure to secure a daily close above the $35,000 resistance is a sign that traders are simply closing positions at each breakout to resistance, a hint that further downside could be in store.