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Bitcoin (BTC) saw continued strength on June 21 as Wall Street trading opened with a trip to near $21,500.

Analyst eyes diminishing BTC stocks correlation

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it reached $21,633 on Bitstamp, its best performance since June 16.

The largest cryptocurrency managed to avoid fresh losses into the new week; so far, these are reserved for the weekend. As such, futures markets reopened without being subjected to the dip to $17,600.

While some planned to short BTC at current levels, the mood among market participants was broadly one of "wait and see" as U.S. equities opened up. The S&P 500 and Nasdaq 100 both added around 2.5% on the open. 

Popular trader Bierre was eyeing the 200-period moving average (MA) on the four-hour chart. For him, breaking it on the day would be a sign of strength not seen for multiple weeks.

Bitcoin (BTC) saw continued strength on June 21 as Wall Street trading opened with a trip to near $21,500.

Analyst eyes diminishing BTC stocks correlation

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it reached $21,633 on Bitstamp, its best performance since June 16.

The largest cryptocurrency managed to avoid fresh losses into the new week; so far, these are reserved for the weekend. As such, futures markets reopened without being subjected to the dip to $17,600.

While some planned to short BTC at current levels, the mood among market participants was broadly one of "wait and see" as U.S. equities opened up. The S&P 500 and Nasdaq 100 both added around 2.5% on the open. 

Popular trader Bierre was eyeing the 200-period moving average (MA) on the four-hour chart. For him, breaking it on the day would be a sign of strength not seen for multiple weeks.

The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what appears to be a frenzy stirred up by day traders.

CEL price short squeeze

CEL's price rose from $0.67 on June 19 to $1.59 on June 21, a 180% spike compared to the crypto market's 12.37% rise in the same period.

Notably, the rally started after PlanC, an independent market analyst, announced a $20 million bounty for anyone who could prove that the Celsius Network suffered a coordinated attack at the hands of a third party, which prompted the crypto lending firm to suspend withdrawals last week.

The announcement led to a frenzy on Twitter, with many accounts placing the hashtag #CelShortSqueeze in their bio and thus reflecting their intentions to target investors who bet that CEL's price would fall.

The hashtag was trending higher in the United States on Twitter. Meanwhile, internet queries for the keyword, "CEL short squeeze" also reached a perfect score of 100 between June 12 and J 18, according to data tracked by Google Trends. 

A week after it started its withdrawal freeze, crypto lending platform Celsius Network warned the community of a rise in fake social media accounts claiming to be affiliated with the company. 

In a blog post, the lending firm urged the community to be more vigilant, as there’s an increase in accounts that are “falsely purporting to be associated with Celsius.” In the same post, the firm announced that it will pause some of its communication channels, namely its Twitter Spaces and ask-me-anything (AMA) sessions, to focus on its ongoing liquidity and operations issues.

Additionally, the firm has highlighted that it’s working and communicating with regulators about the withdrawals, swap and transfer pauses, and is trying to find a solution. However, the firm did not mention any updates on when its users can resume withdrawals of their funds.

Meanwhile, the Gamestop-style short squeeze movement for Celsius (CEL) on Twitter with the hashtag #CELShortSqueeze has trended in the Business and Finance category. Twitter users have been posting their CEL buys to show their support for the project.

Twitter user TheTwitOnline expressed their hopes that Celsius CEO Alex Mashinsky could notice how the community is supporting the project in hopes that its team will work to give CEL further value and utility.