Bitcoin
Bitcoin drops below US$66,000, currency activity increases
Bitcoin (Bitcoin) witnessed strong bearish momentum after three days of consolidation, leading its price to fall below the $66,000 mark.
Bitcoin is down 0.9% in the last 24 hours and is trading at $65,600 at the time of writing. The asset’s market capitalization also fell below the $1.3 trillion mark for the second time this month. Bitcoin’s daily trading volume, however, increased by 125% to reach $36.3 billion.
BTC Price, RSI, Exchange Activity and Exchange Balance on June 18 | Source: Santíment
According to data provided by Santiment, BTC exchange inflows increased by 137% in the last day – rising from 19,172 BTC to 45,356 BTC.
Data from the market intelligence platform shows that the amount of Bitcoin leaving exchanges has also increased significantly. According to Santiment, the exchange’s BTC outflow increased by 119% in the last 24 hours – rising from 19,871 BTC to 43,493 BTC.
By Santiment, the Bitcoin supply on exchanges also increased from 937,240 BTC to 939,230 BTC in the last day. This shows a net exchange inflow of 1,863 BTC over the last day. The surge in inflows comes as the broader cryptocurrency market resists bearish momentum.
Furthermore, the global crypto market capitalization has decreased by 2.6% in the last 24 hours and is currently hovering at $2.485 trillion, according to data by CoinGecko. According to data provided by the price aggregator, 96% of the top 300 cryptocurrencies, including meme coinsare wandering in the red zone.
According to data from Santiment, BTC’s relative strength index (RSI) was at 46 at the time of reporting. The indicator shows that the leading cryptocurrency is slightly undervalued.