Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive

cointelegraph.com:

Bitcoin (BTC) finished June 2022 just below $20,000 after a last-minute pump saw bulls escape 40% monthly losses.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking higher into the monthly close, which came in at $19,924 on Bitstamp.

With that, the pair narrowly avoided its first-ever monthly close below a previous halving cycle’s all-time high. On Bitstamp in November 2017, Bitcoin reached approximately $19,770.

Right on time. #BTC pic.twitter.com/KxZiOF0kF8

The success was at best touch-and-go for a market which nonetheless sealed its worst monthly losses since September 2011, these coming in at around 37.3%. It was also short lived, with BTC/USD diving toward $19,000 at the time of writing on July 1.

“Steadily carving out a cycle bottom here,” Philip Swift, indicator creator and analyst at trading suite Decentrader summarized in part of Twitter comments after the close.

Bitcoin’s weakness came as United States equities saw dismal results of their own. Q2 2022, commentators noted, was the worst since 1970 for the S&P 500, while the Nasdaq saw its weakest H1 since 1998.

“Adjusted for inflation, 2022 first half S&P 500 down 25-26%, and Nasdaq down 34-35%, Bitcoin down 64-65%,” Big Short investor Michael J. Burry reacted.

Burry had previously forecast that U.S. monetary policy, currently fixed on driving up interest rates to fight inflation, would be forced to change course before the end of the year.

"Bottoming/accumulation signals everywhere, Major funds/lenders going bust, Worst quarter ever, Nocoiner haters dunking on us, Whole timeline saying this time is different," William Clemente, lead insights analyst at Blockware, told Twitter followers.

Among institutional investors, however, there was fresh