Friday slump continues: Bitcoin drops over 1%, aligning with six-month trend

Historically, Tuesday marked as worst day for Bitcoin since past year.

Quick Take

Bitcoin experienced a notable dip below $64,000 on Friday, June 21. According to Velo’s data covering the last six months, Friday has historically been the second worst-performing day of the coin, with an average decline of -0.5%. This recent drop of over 1% aligns with this trend. Tuesday, however, fares even worse, with an average decline of -2%, marking Tuesday as the least favorable day for Bitcoin within the same period.

BTC 6m Average Return By Day: (Source: Velo Data)
BTC 6m Average Return By Day: (Source: Velo Data)

Extending the analysis to a one-year timeframe, Friday continues to show a slightly negative performance, although less severe, averaging a decline of -0.4%. Tuesdays remain the most challenging day for Bitcoin investors over this extended period.

In the immediate term, Bitcoin needs to reclaim the $64,097 mark to surpass the short-term holder’s realized price. This level is critical for signaling potential recovery and gaining positive momentum among short-term investors.

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