{"id":192440,"date":"2021-06-08T20:00:37","date_gmt":"2021-06-08T19:00:37","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=192440"},"modified":"2021-06-08T20:10:24","modified_gmt":"2021-06-08T19:10:24","slug":"bitcoin-ethereum-see-huge-sell-off-even-as-fundamental-narrative-grows","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-ethereum-see-huge-sell-off-even-as-fundamental-narrative-grows\/","title":{"rendered":"These factors preceded today’s Bitcoin, Ethereum sell off\u2014here’s what could happen next"},"content":{"rendered":"

Bitcoin<\/a> and Ethereum<\/a> markets saw another big sell-off on June 8, data from multiple sources show. The assets fell more than 10%, while some altcoins fell as much as 15%.<\/span><\/p>\n

The move came on the back of the US government tightening its grip around the sector, but came even as countries like Paraguay<\/a>, El Salvador<\/a>, and Panama endorsed Bitcoin.<\/span><\/p>\n

Market view<\/h2>\n

Bitcoin and Ethereum both fell through some of the crucial price support levels with <\/span>each of them being down 11.5% and 14% respectively (at the time of writing).\u00a0<\/span><\/p>\n

Traders also warned that there might be more <\/span>blood <\/span><\/i>as several technical indicators turned bearish on several timeframes.<\/span><\/p>\n

Popular trader Pentoshi tweeted that altcoins could dip even further as the majority of them were already heavily down.<\/span><\/p>\n

\n

I wouldn\u2019t be rushing to buy alt dips personally. They can bleed more than you can imagine. https:\/\/t.co\/9h3xfnsXje<\/a><\/p>\n

— Pentoshi ?wont DM you (@Pentosh1) June 8, 2021<\/a><\/p><\/blockquote>\n