![How to Nail First-Party Data Strategy According to a Google Director of Product Management [+ New Data]](https://www.hubspot.com/hubfs/first-party-data-strategy.webp)
Bitcoin Price Hits Roadblock at $67,500: What’s Next?
The post Bitcoin Price Hits Roadblock at $67,500: What’s Next? appeared on BitcoinEthereumNews.com. Bitcoin price held firm at the $67,500 support on Saturday June 1 2024, as the crypto market entered consolidation phase amid delays surrounding Ethereum ETFs official launch. Bitcoin price down 7% since Ethereum ETF approval The Ethereum ETF approval triggered bullish sentiment and positive media coverage, as it marked a significant milestone for global cryptocurrency industry. However, a week down the line, the ETH spot ETFs are yet to launch, with fund issuers still making final adjustments to their fillings. With the ETH ETFs in hiatus, the crypto markets have witnessed significant swings in investment patterns and strategy. Notably, ETH and specific Etheruem-hosted projects like memecoins and DeFi protocols have been in high demand, to the detriment of the other rival blockchain networks. Bitcoin BTC Price Action Since Ethereum ETF Approval Since reaching its monthly peak of $71,954 on May 21, Bitcoin has now declined 7%, falling as low as $66,657 within the daily timeframe on May 31. A closer look at the daily chart shows how Bitcoin bulls have instantly responded with covering purchases to reclaim the $67,500 support territory. Whale Investors are Buying the Bitcoin Dip However, while retail investors appear to be seeking more profitable opportunities within the Ethereum ecosystem, on-chain data shows that whale investors have continued to doubled on BTC. IntoTheBlock’s daily Large Transactions chart below tracks the total number of unique BTC transactions that exceed $100,000 in value on any given day. This provides real-time insights into the level of whale demand accruing to Bitcoin during that given period. Bitcoin price vs BTC Large Transactions | IntoTheBlock Bitcoin attracted on 11,530 whale transactions on May 26, as depicted in the chart above. But as the price correction phase intensified, rather than exit, Bitcoin whales appear to have increased their demand. – Advertisement – The…
The post Bitcoin Price Hits Roadblock at $67,500: What’s Next? appeared on BitcoinEthereumNews.com.
Bitcoin price held firm at the $67,500 support on Saturday June 1 2024, as the crypto market entered consolidation phase amid delays surrounding Ethereum ETFs official launch. Bitcoin price down 7% since Ethereum ETF approval The Ethereum ETF approval triggered bullish sentiment and positive media coverage, as it marked a significant milestone for global cryptocurrency industry. However, a week down the line, the ETH spot ETFs are yet to launch, with fund issuers still making final adjustments to their fillings. With the ETH ETFs in hiatus, the crypto markets have witnessed significant swings in investment patterns and strategy. Notably, ETH and specific Etheruem-hosted projects like memecoins and DeFi protocols have been in high demand, to the detriment of the other rival blockchain networks. Bitcoin BTC Price Action Since Ethereum ETF Approval Since reaching its monthly peak of $71,954 on May 21, Bitcoin has now declined 7%, falling as low as $66,657 within the daily timeframe on May 31. A closer look at the daily chart shows how Bitcoin bulls have instantly responded with covering purchases to reclaim the $67,500 support territory. Whale Investors are Buying the Bitcoin Dip However, while retail investors appear to be seeking more profitable opportunities within the Ethereum ecosystem, on-chain data shows that whale investors have continued to doubled on BTC. IntoTheBlock’s daily Large Transactions chart below tracks the total number of unique BTC transactions that exceed $100,000 in value on any given day. This provides real-time insights into the level of whale demand accruing to Bitcoin during that given period. Bitcoin price vs BTC Large Transactions | IntoTheBlock Bitcoin attracted on 11,530 whale transactions on May 26, as depicted in the chart above. But as the price correction phase intensified, rather than exit, Bitcoin whales appear to have increased their demand. – Advertisement – The…
What's Your Reaction?
