Bitcoin is currently trading at $61,500, with a 24-hour trading volume of $28.28 billion. The cryptocurrency has dropped about 2.25% in the past day. Ranked first on Cryptonews, Bitcoin boasts a market cap of $1.21 trillion, with a circulating supply of 19,698,325 BTC and a maximum supply of 21,000,000 BTC.
One of the largest pension funds in the United States disclosed on Tuesday a $162 million allocation to the nation’s leading Bitcoin spot ETF products launched earlier this year.
Technical analyst Rekt Capital suggests that Bitcoin has emerged from the post-halving “danger zone” and entered an accumulation phase, as indicated by weakening selling pressure.
Bitcoin price prediction is a hot topic as two mysterious whales, inactive for over a decade, have suddenly moved 1,000 BTC, worth about $60.9 million, within the past 20 minutes.
The hash rate of the Bitcoin network has experienced a significant decline as mining firms are shutting down unprofitable mining rigs following the fourth Bitcoin halving.
President Joe Biden has issued an order blocking MineOne, a majority Chinese-backed crypto mining firm from owning land near a strategic nuclear missile base in Wyoming due to security concerns.
Two crypto-supportive senators urged the Justice Department (DOJ) on Monday to reconsider its recent enforcement action against a popular Bitcoin privacy service.
Bitcoin mining firms are scaling back the use of their computer fleets after industry revenues crunched substantially last month, according to a May 13 Coinshares report.
El Salvador, renowned for its move to adopt Bitcoin as legal tender in September 2021, has now introduced a cutting-edge online platform for tracking the country’s Bitcoin Treasury.
Bitcoin (BTC) began the week on a downward trend, trading around $61,000 with an intraday low of $60,675. Despite a previous surge following the U.S. approval of exchange-traded funds (ETFs), Bitcoin has not regained momentum.
Japanese investment and consulting services company Metaplanet has adopted Bitcoin (BTC) as its strategic treasury reserve asset. The move comes at a time when Japan is facing high debt burden and a volatile national currency – yen.
In the latest Bitcoin price prediction, the flagship cryptocurrency hovers around $61,154, reflecting a slight 0.60% increase within 24 hours. With a robust trading volume exceeding $13 billion and a market cap nearing $1.2 trillion, Bitcoin demonstrates resilience as bulls strive to maintain the $61,000 support level.
Bitcoin (BTC/USD) recently crossed the $60,000 threshold, only to face new challenges from Federal Reserve sentiment. The cryptocurrency, currently trading around $60,800, experienced a modest drop of about 1.50% over the last day, keeping the bitcoin price prediction bearish.