The Bitcoin price fluctuated despite increasing pressure and reduced stock market reserves. This suggests a bullish signal for the top cryptocurrency as well as a monthly closing price below the key level.
Bitcoin prices rallied between lows of $ 8,800 and highs of $ 10,450 in June, with traders currently looking for a monthly close above $ 9,000.The BTC was offered this morning at 06:54 UTC for around USD 9,150 on the main spot exchanges.Yesterday the BTC / USD pair failed to gain after the weak weekend. On Thursday, the price of the highest cryptocurrency fell from a high of $ 9,600 to a low of around $ 8,900. The development occurred after the expiration of $ 1 billion Bitcoin options on June 26 – the largest option expiration to date.
Foreign exchange reserves hit a 13-month low
The number of bitcoin exchanges dropped significantly last month, as the on-chain analysis platform Glassnode recently tweeted:
Despite the current price wars, the behavior is an indication of the optimistic mood surrounding Bitcoin.61% of the Bitcoin offer has not been moved in the past year. The only time that so much bitcoins remained in wallet addresses was in the days leading up to the 2017 bull market, which ended when the BTC hit its all-time high of $ 20,000.