Good morning from the third Sunday of June, Bitcoin currently finds buyers at $26,544. We see that Bitcoin has found stronger buyers in the last two days compared to its negative performance during the week. This is obviously due to the latest spot Bitcoin ETF application.
Current Bitcoin Situation
The king cryptocurrency is keeping investors happy as it stays above the critical threshold of $26,320. If this strong stance continues, we will see that the last price bottom was marked in the $25,000 area. It’s been about two weeks since the biggest two exchanges were sued, and it’s very positive that Bitcoin hasn’t closed below $25,000.
The June performance, which strengthens the possibility that the bottom of the last bear season was marked at $15,000, may encourage investors. Furthermore, if macroeconomic data to be released in the coming weeks is positive, the markets could double their optimism regarding the interest decision in July. For now, the prevalent opinion is a 25bp increase, so the crypto markets haven’t recovered to the expected extent.
On the other hand, we announced the agreement in the Binance case at the last minute. Thankfully, US courts are not prejudiced against crypto companies. Completion of the settlement is a serious achievement, and the legal team responsible for Binance in this case shows how seriously they take their work.
Current State of Cryptocurrencies, Altcoins
The cumulative trading volume of cryptocurrencies is at $23 billion levels, and this number is still low. When we consider that only DOGE’s volume peaked at $40 billion during the peak of the bull season, we can better understand the current situation. Bitcoin’s dominance continues to increase, showing that altcoins continue to be crushed in this process. Here’s some good morning news, the cumulative value regained its $1.05 trillion support. This tells us that we may see significant rebounds in altcoins in the coming days.
Aptos (APT) has gained over 10% in the last 24 hours. The price, which is again approaching the $7 border, has increased by nearly 20% on a weekly basis. Those who took advantage of the oversold bottom have already achieved double-digit gains. About a week ago on Saturday morning, the markets woke up to a bloody day for crypto.
QNT was the biggest loser in the last 24 hours. We are used to these high volatility days for QNT Coin. It brought significant gains to investors on the hardest days of the bear, but it experiences such large falls as it fails in resistance tests, and this situation has normalized for its investors.
