Bitcoin Activity Surges As Retail Investors Return

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.

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