Bitcoin
Bitcoin reaches the US$69,000 mark after a series of large investments
Bitcoin (Bitcoin) the price gained upward momentum, surpassing the $69,000 mark after a bearish weekend.
BTC is up 1.3% in the last 24 hours and is trading at $69,080 at the time of writing. The market capitalization of the leading cryptocurrency has surpassed the $1.35 trillion mark, with a daily trading volume of $22.7 billion.
BTC Price, RSI, Active Addresses and Supply in Profit – June 3 | Source: Santíment
The bullish momentum comes after some major investments around the Bitcoin ecosystem. According to a June 1 report, Paradigm helped Bitcoin Babylon staking protocol elevation US$70 million.
Furthermore, Tether, the issuer of USDT, ran to buy up to $150 million in Bitdeer shares in a private deal. Bitdeer is a popular Bitcoin mining company and its shares are worth between $6 and $7.
The Republic of Tatarstan, also known as Tataria, is trying ramp up the largest Russian Bitcoin mining company, valued at around $100 million. Innopolis Tech, a fintech company governed by a former Russian communications minister, will lead the project.
According to data provided by Santiment, the number of active addresses on the Bitcoin network has been steadily decreasing over the past four days – dropping from 683,150 on May 31 to 538,240 unique daily active addresses at the time of reporting.
Data from Santiment shows that the total profit supply has increased slightly – going from 18.28 million BTC to 18.33 million coins. Notably, 19.707 million Bitcoins have entered circulation so far.
BTC’s Relative Strength Index (RSI) is currently at the 54 mark, according to Santiment. The indicator shows that Bitcoin is still in good condition for sustained upward momentum.