bitcoin BTC
-0.28%
The price is close to $67,000 and is currently trading at $66,600 as of 3 a.m. ET on Monday.
The top cryptocurrency by market capitalization is up about 5% since May 13, when it was trading at $63,000. However, according to The Block’s price page, Bitcoin is down nearly 0.8% in the last 24 hours.
“Bitcoin’s price action has improved significantly since last week,” research firm 10x Research wrote in X on Monday. “The price rebounded to the resistance zone ($67,500) in late April and surpassed the high in early May ($64,000). A break above $67,500 could potentially hit a new all-time high,” the company said.
Bitcoin price chart | the block
That’s because weekly new addresses on the Bitcoin network, which hit an all-time high just six months ago, have fallen to their lowest level since 2018, according to data from The Block.
Meanwhile, analytics platform Santiment told “Historically, smaller wallets dumping coins into larger wallets is an encouraging and optimistic sign for BTC.” Sentiment is stated.
Nonetheless, 11 spot Bitcoin exchange-traded funds in the U.S. have recorded total net inflows for five consecutive days, with inflows totaling close to $950 million last week.
Ether, the second-largest cryptocurrency token by market capitalization, rose 0.17% over the past 24 hours to trade at $3,122. The U.S. Securities and Exchange Commission is expected to make a final decision on a spot Ether ETF. According to a Bloomberg report, several fund managers in the US are expecting a rejection as active talks with the SEC have not taken place as before the approval of a spot Bitcoin ETF.
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