Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin’s transaction costs rises to a YTD height of $ 2.4

2025-05-19

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

2025-05-19

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

    2025-05-19

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-19

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17
  • Analysis

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»What’s next after Bitcoin drops below $60,000 twice a week?
Bitcoin

What’s next after Bitcoin drops below $60,000 twice a week?

2024-06-30No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • BTC saw the highest number of new addresses in months.
  • BTC has maintained the $60,000 price range.

This past week has been Bitcoin [BTC] the price fell below the $60,000 mark on two separate occasions, which was accompanied by a slight increase in reserves held by exchanges.

Interestingly, in addition to the increase in BTC on exchanges, there was a significant increase in the creation of new addresses.

Bitcoin drops below $60,000

AMBCrypto’s analysis of Bitcoin’s price movement over the past week, as reported by AMBCrypto, indicated a period of significant volatility.

On June 24, BTC experienced a notable decline of 4.60%, closing the trading day at approximately $60,263.

Despite this close, the price had fallen to $58,411 during the day. Similarly, the price of BTC tested another lower level on June 28.

The price fell to $59,868 and closed at around $60,313, which represents a decline of more than 2%.

Bitcoin price developmentBitcoin price development

Source: TradingView

At the time of writing, BTC was trading around $61,400, showing a modest increase of less than 1%. The Relative Strength Index (RSI), an important indicator of price momentum, was around 38.

This suggested that BTC was in a strong bear trend. An RSI below 40 generally indicates bearish momentum, and values ​​approaching 30 are often interpreted as a signal of oversold conditions.

This step could therefore precede a possible price rebound.

This week’s price movements have also impacted broader market dynamics, including the creation of new Bitcoin addresses and changes in currency reserves.

Typically, significant price drops can lead to increased activity on the exchanges as traders move BTC to sell or buy at perceived key levels.

See also  The biggest holders of Bitcoin stack again - what it means for the market

New addresses can also be created as new or existing participants enter the market to take advantage of the volatility.

Bitcoin on exchanges is increasing

AMBCrypto’s analysis of exchange reserve data from CryptoQuant revealed a subtle but notable increase in the volume of Bitcoin held on exchanges recently.

Although the foreign exchange reserve has generally remained around 2.8 million BTC, there have been minor fluctuations. Specifically, the reserve has increased by approximately 14,000 BTC in recent days.

Given Bitcoin’s current market price, this reserve increase translates into an inflow of approximately $851 million worth of BTC to the exchanges.

At the time of writing, the total amount of BTC in foreign exchange reserves was approximately 2.841 million BTC.

This increase in foreign exchange reserves could have several consequences. Typically, a rise in Bitcoin on exchanges is interpreted as a potential preparation for selling, which could put downward pressure on prices.

Alternatively, it can also indicate greater liquidity, potentially leading to greater trading volume.

There is remarkable growth taking place in the chain

For the first time in almost three months, there has been a notable increase in the creation of new Bitcoin addresses every day.

According to an analysis of Glassnode data, the number of daily new addresses rose to more than 350,000.

This level of activity had not been observed this month and the last time such a significant number of people occurred was in April.

New Bitcoin addressesNew Bitcoin addresses

Source: Glassnode


Read Bitcoin’s [BTC] Price forecast 2024-25


Furthermore, this spike in new addresses could indicate renewed interest in Bitcoin, possibly from newcomers to the market. It can also come from existing participants establishing additional addresses.

See also  How Did Korean Investors Help Bitcoin Soar to $109,000?

Such a significant increase often reflects broader market movements or sentiment shifts, which can have various implications for BTC’s network activity and price dynamics.

Next: XRP Volume Drops 53% – So Why Are Analysts Confident of a Rally to $20?

Source link

Bitcoin Drops week Whats
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin’s transaction costs rises to a YTD height of $ 2.4

2025-05-19

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

2025-05-19

All the reasons why the price of Bitcoin could be set for an explosive rally

2025-05-19

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

2025-05-18
Add A Comment

Comments are closed.

Top Posts

This is the price that will start the bull market according to this analyst

2023-09-01

Top NFT collections in terms of sales this week

2024-08-05

Why is crypto down today? Looking at Bitcoin, FED and last week’s sell-off!

2024-12-27
Editors Picks

Kamala Harris’ crypto stance: Democratic senator promises ‘sensible legislation’

2024-08-16

The Readyverse: A partnership between Futureverse and ‘Ready Player One’ creators

2024-01-04

Can Binance Coin then hit $ 750?

2025-02-13

Band Protocol integrates X Layer to extend cross-chain interoperability and real-world data access

2024-12-27

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin’s transaction costs rises to a YTD height of $ 2.4

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,878.19-0.97%
  • ethereumEthereum(ETH)$2,411.07-3.83%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.32-3.23%
  • binancecoinBNB(BNB)$639.41-0.95%
  • solanaSolana(SOL)$161.40-5.88%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.216722-2.88%
  • cardanoCardano(ADA)$0.73-4.52%
  • tronTRON(TRX)$0.263005-3.49%
  • suiSui(SUI)$3.66-4.90%
  • chainlinkChainlink(LINK)$15.19-3.29%
  • avalanche-2Avalanche(AVAX)$21.60-6.21%
  • stellarStellar(XLM)$0.280561-3.48%
  • hyperliquidHyperliquid(HYPE)$25.28-5.93%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.72%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.92%
  • hedera-hashgraphHedera(HBAR)$0.186866-4.00%
  • bitcoin-cashBitcoin Cash(BCH)$384.10-4.01%
  • the-open-networkToncoin(TON)$2.98-4.07%
  • litecoinLitecoin(LTC)$95.63-2.77%
  • polkadotPolkadot(DOT)$4.50-5.44%
  • moneroMonero(XMR)$345.301.55%
  • bitget-tokenBitget Token(BGB)$5.13-2.04%
  • daiDai(DAI)$1.00-0.01%
  • pepePepe(PEPE)$0.000013-5.58%
  • piPi(PI)$0.71-4.30%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.74-3.48%
  • bittensorBittensor(TAO)$390.38-7.58%
  • aaveAave(AAVE)$219.52-2.84%
  • nearNEAR Protocol(NEAR)$2.68-3.56%
  • aptosAptos(APT)$4.99-4.09%
  • okbOKB(OKB)$51.81-2.50%
  • ondo-financeOndo(ONDO)$0.89-5.27%
  • kaspaKaspa(KAS)$0.104423-6.59%
  • ethereum-classicEthereum Classic(ETC)$17.77-3.47%
  • internet-computerInternet Computer(ICP)$5.05-4.09%
  • gatechain-tokenGateToken(GT)$21.32-1.18%
  • crypto-com-chainCronos(CRO)$0.094382-5.33%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.47-3.95%
  • mantleMantle(MNT)$0.73-1.04%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.230686-3.37%
  • vechainVeChain(VET)$0.027185-4.46%
  • render-tokenRender(RENDER)$4.39-5.79%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • ethenaEthena(ENA)$0.349831-7.62%
  • filecoinFilecoin(FIL)$2.77-3.61%
  • algorandAlgorand(ALGO)$0.214404-3.70%
  • cosmosCosmos(ATOM)$4.64-3.73%
  • bitcoinBitcoin(BTC)$102,878.19-0.97%
  • ethereumEthereum(ETH)$2,411.07-3.83%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.32-3.23%
  • binancecoinBNB(BNB)$639.41-0.95%
  • solanaSolana(SOL)$161.40-5.88%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.216722-2.88%
  • cardanoCardano(ADA)$0.73-4.52%
  • tronTRON(TRX)$0.263005-3.49%
  • suiSui(SUI)$3.66-4.90%
  • chainlinkChainlink(LINK)$15.19-3.29%
  • avalanche-2Avalanche(AVAX)$21.60-6.21%
  • stellarStellar(XLM)$0.280561-3.48%
  • hyperliquidHyperliquid(HYPE)$25.28-5.93%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.72%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.92%
  • hedera-hashgraphHedera(HBAR)$0.186866-4.00%
  • bitcoin-cashBitcoin Cash(BCH)$384.10-4.01%
  • the-open-networkToncoin(TON)$2.98-4.07%
  • litecoinLitecoin(LTC)$95.63-2.77%
  • polkadotPolkadot(DOT)$4.50-5.44%
  • moneroMonero(XMR)$345.301.55%
  • bitget-tokenBitget Token(BGB)$5.13-2.04%
  • daiDai(DAI)$1.00-0.01%
  • pepePepe(PEPE)$0.000013-5.58%
  • piPi(PI)$0.71-4.30%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.74-3.48%
  • bittensorBittensor(TAO)$390.38-7.58%
  • aaveAave(AAVE)$219.52-2.84%
  • nearNEAR Protocol(NEAR)$2.68-3.56%
  • aptosAptos(APT)$4.99-4.09%
  • okbOKB(OKB)$51.81-2.50%
  • ondo-financeOndo(ONDO)$0.89-5.27%
  • kaspaKaspa(KAS)$0.104423-6.59%
  • ethereum-classicEthereum Classic(ETC)$17.77-3.47%
  • internet-computerInternet Computer(ICP)$5.05-4.09%
  • gatechain-tokenGateToken(GT)$21.32-1.18%
  • crypto-com-chainCronos(CRO)$0.094382-5.33%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.47-3.95%
  • mantleMantle(MNT)$0.73-1.04%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.230686-3.37%
  • vechainVeChain(VET)$0.027185-4.46%
  • render-tokenRender(RENDER)$4.39-5.79%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • ethenaEthena(ENA)$0.349831-7.62%
  • filecoinFilecoin(FIL)$2.77-3.61%
  • algorandAlgorand(ALGO)$0.214404-3.70%
  • cosmosCosmos(ATOM)$4.64-3.73%