Are miners blame to the fall of BTC price?...Bloomberg says BTC would see the decrease in volatility

Last night, the U.S stock thanks to a better-than-expected jobs report in June. The anxiety over COVID-19 and the difficulty in reopening the economy. On July 2nd(ET), the New York Stock Exchange(NYSE) traded at 25,827.36, advanced by 0.36% compared to the previous session. Standard&Poor's(S&P) 500 Index at 3,130.99, rose by 0.45%; Nasdaq tech stocks at 10,207.63, increased by 0.52%.

For the last 24 hours, Bitcoin(BTC) price reduced for a short time, lowering the level of USD 9,200. In some exchanges, including Coinbase, the digital currency price briefly moved downwards to the level of USD 9,000. "Miners have largely affected to the BTC price. The example is price cut on June 24th, when miners sold BTC three times more than that they mined," reported Cointelegraph, citing Mike Alfred, the co-founder of a cryptocurrency data analysis firm Digital Assets Data.

"BTC recently gained ground above USD 9,200. It may be a dead-cat bounce, and the further upside momentum is limited at this stage. BTC/USD would be bullish after breaking the resistance zone between the USD 9,300 and the 9,500. If it moves downward, the supporting level would be the between USD 9,135 and USD 9,006.8," analyzed FXstreet about the short-term BTC price change.

"If BTC successfully keeps the USD 9,150 supporting line, it can break above USD 9,400. But it still risks being fallen under the level of USD 9,000. BTC has yet to gain momentum for rally. In the respect of trade volume, the mid and long-term momentum lack. The USD 9,150 supporting level would be critical," said Neo, the analyst of OKEx.

"BTC's volatility would be declined. BTC will continue to log boring candles as it is gradually transitioning into digital gold. And price compression will likely resolve in bulls’ favor," explained U.Today, citing Mike McGlone, the market analyst from Bloomberg.

"Young Robinhooders Might Be a Driving Force for Bitcoin Market. If bitcoin manages to surpass its 2020 high of nearly USD 10,500 seen in February, the thousands of small-time players could generate a frenzy. The millennials are not stranger in BTC trading," reported Cryptonews, citing the opinion of chief market strategist at Miller Tabak, the market strategist.

Peter Schiff, the pessimist of BTC, tweeted to retort the optimistic views on the cryptocurrency. "BTC HODLers are delusional. Since hitting its high in June of last year the price of Bitcoin has fallen by 33%. During that same time period the price of gold has risen by 27%. So, priced in gold Bitcoin has fallen by 53%. The long-term trend has clearly changed in gold’s favor."

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