BTC traders watch for $28K drop despite 20% price increase.

On June 22, Bitcoin (BTC) was hovering near $30,000 as traders were looking to “buy the dip.” BTC/USD volatility had calmed overnight after rapid gains. The day prior, BTC price performance had returned to the $30,000 mark for the first time since mid-April. Now, there were hopes for a modest correction, enabling lucrative entry points for further long positions. Traders like Michaël van de Poppe and Crypto Tony had different target prices for BTC, but both agreed that $28,000 is a great spot for longing. Glassnode, an on-chain analytics firm, argued that BTC price volatility was “no exception” to the norm and that extremely tight trading ranges have preceded large, volatile moves in either direction.