Bitcoin activity is on the rise, with the number of active BTC addresses surpassing 900,000 yesterday, reaching levels not seen since mid-April.
This peak is part of a broader trend, with activity steadily increasing since early June.
Bitcoin activity is on the rise!
The number of active $BTC addresses crossed 900k yesterday, hitting levels not seen since mid-April.
This peak is part of a bigger trend, as activity has been slowly increasing since early June. pic.twitter.com/rPdbIh0Zoz
— IntoTheBlock (@intotheblock) July 2, 2024
Retail investors are making a comeback in the Bitcoin market, as evidenced by the creation of 432,026 new BTC addresses, a four-month high.
"Sell in May, and go away" is officially over! #Bitcoin retail investors are returning, with new $BTC addresses hitting a four-month high of 432,026! pic.twitter.com/xgZG1e1LVn
— Ali (@ali_charts) July 2, 2024
Despite this surge in activity, Bitcoin’s price remains confined within a parallel channel. If the lower boundary at $62,500 holds, BTC could see a rebound to $63,200 or even $63,800.
#Bitcoin seems to be stuck in a parallel channel. If the lower boundary at $62,500 holds, $BTC could rebound to $63,200 or $63,800! pic.twitter.com/nfI94NTSZ7
— Ali (@ali_charts) July 2, 2024
One of the most crucial resistance areas for Bitcoin is $65,795. If BTC can break past this level, the next significant target is $78,700.
One of the most crucial resistance areas for #Bitcoin is $65,795. If $BTC can break past this level, the next significant target is $78,700! pic.twitter.com/tcxTJlKUo3
— Ali (@ali_charts) July 2, 2024
Bitcoin ETFs Market Sees Notable Inflow Of $129 Million
In related news, the BTC ETF market saw a net inflow of $129 million on July 1, 2024. Notably, no US Bitcoin ETF experienced an outflow yesterday.
🚨 $BTC #ETF Net Inflow July 1, 2024: +$129M!
• No US Bitcoin ETF saw an outflow yesterday 🎉.
• #Fidelity (FBTC) saw the largest single-day inflow at $65M.
• Both #BlackRock (IBIT) and #Grayscale (GBTC) experienced net flows of $0 yesterday.
• Overall, the net inflow… pic.twitter.com/rM9socAJ5t
— Spot On Chain (@spotonchain) July 2, 2024
Fidelity’s FBTC recorded the largest single-day inflow at $65 million, while both BlackRock’s IBIT and Grayscale’s GBTC had net flows of $0. Overall, the net inflow for Bitcoin ETFs has remained positive for five consecutive trading days.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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