What’s the current status of Bitcoin on June 10, 2024? Bitcoin is attempting to maintain stability above the $69 mark, hitting a peak price today at $69.769.
Over the past few days, the leading cryptocurrency in the market has experienced a significant price recovery, pushing it towards the $71 range due to a surge in inflows from spot Bitcoin exchange-traded funds (ETFs) last week.
Taking a closer look at the latest network developments and Bitcoin price action, well-known cryptocurrency analyst Ali Martinez has identified signs of an impending uptrend for the largest cryptocurrency in the market. In an analysis shared on June 9, the analyst pointed out that the daily number of active Bitcoin addresses has broken a downward trend that began on March 5.
Martinez also highlighted that the buy and sell rate on exchange HTX Global has seen a rise to 730, indicating strong buying pressure and overwhelming bullish sentiment, hinting at a potential upward movement in Bitcoin’s price.
Additionally, the expert made a prediction regarding the next local peak for Bitcoin, suggesting a new all-time high price of around $89,200.
At the time of writing, the price of Bitcoin was at $69,414.92, showing a slight decrease of 0.1% in the last 24 hours.
Please note that the opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing or trading cryptocurrencies involves a risk of financial loss.
In other news, Thailand has approved its first spot Bitcoin ETF, while Bitcoin ETFs have reached a milestone with a record $887 million in inflows.