Jill Carlson Discusses Potential Catalysts For Bitcoin

Trading volumes in the cryptocurrency markets fell more than 40% during the month of June. Despite the declining volume, June still ranks as one of the top five months for cryptocurrency trading volume all time. 

Cryptocurrency seems to have found support at current levels, Slow Ventures' Jill Carlson said Tuesday on CNBC's "Squawk On The Street."

Bitcoin (CRYPTO: BTC) has been range-bound between $30,000 and $35,000 for a few weeks, Carlson said, adding she expects Bitcoin to continue to find support near said levels. 

After failing to trade lower amid bad news over the last few weeks, it seems like it would "take a lot" to trade lower from here, she noted. 

Carlson told CNBC that she is paying attention to how quickly crypto miners are able to come back online. A prolonged delay in mining can cause supply pressure on cryptocurrency, she said. 

Potential catalysts for Bitcoin and other cryptocurrencies include trading activity reports from Coinbase Global Inc (NASDAQ: COIN) when the company reports financial results in a few weeks and the possibility of a Bitcoin ETF, Carlson said.

Related Link: Even A Tanking Bitcoin Is Good For Coinbase's Business, Goldman Sachs Says As It Reiterates Buy Rating

She told CNBC that she is watching Bitcoin closely, as the popular cryptocurrency tends to be the "first mover in an updraft."

BTC Price Action: Bitcoin is up 12.85% year-to-date. 

At last check Tuesday, it was down 0.99% at $32,763.20.

Related Link: Want to learn more about cryptocurrency? SPACs? The market? Tune into one of Benzinga's YouTube shows.

Image by Ricardo Goncalves from Pixabay.