Bitcoin Activity Surges As Retail Investors Return

July 2, 2024

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.

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.

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.

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.

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.

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.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: tzido/123RF // Image Effects by Colorcinch

About The Author

Will

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.