Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, told CNBC that bitcoin is likely going to trade between $17,000 and $22,000 “for a while, given the current market sentiment” and another expected interest rate hike from the U.S. Federal Reserve in July that continues to “weigh down all risk assets.”
“Most bounces are being sold off for the past few weeks, typically categorized as bear market bounces, aiming to trap late buyers, only to have them sell off positions lower,” Ayyar said.
