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.
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
Ripple is currently making headlines after releasing an incredible 1 billion XRP tokens earlier this…
In a significant move, address 0x64C...cA655 received 70 million $GMT tokens, valued at $10.23 million,…
As of July 1, 2024, data from @IntotheBlock reveals that $GMX is leading the Total…
The Aero Protocol token ($AERO) is leading the pack in the Base Ecosystem with an…
Bitcoin has recently fallen to a low of $56.7K, while Ethereum has dropped to $3.1K,…
A significant transfer was observed today from a Uniswap-related wallet, which moved 2.359 million UNI…