The Bitcoin price experienced a modest increase of 2.55% in June, not exceeding its May peak of $ 112,000. The cryptocurrency continues to negotiate itself in a narrow range, reflecting a period of consolidation, according to the latest Bitcoin monthly report by Ark Invest.
Significant development highlighted in the report is the increase in long -term holders (LTHS)which now has 74% of the total Bitcoin supply – a level that we do not see in 15 years. This suggests a strong conviction among experienced investors, even if the influx of new buyers decreases.
However, the report also indicates a drop in capital flows on the second quarter, as measured by market value (MVRV) Metric melan. This slowdown indicates a cooling of market enthusiasm and a potential change in the feeling of investors.
In the broader economic context, the US dollar (as measured by the FED -wide -wide -wide -wide dollar index) of the Fed) Continue to climb, defying the dominant account of dollars who fueled the long -term bullish feeling in crypto.
Meanwhile, inflation has shown continuous signs of softening, raising questions about the traditional attraction of bitcoin as a coverage of inflation – however, opposite, lower inflation can also lead to lower federal funding rates, which tends to stimulate assets at risk such as technological actions and cryptocurrencies.
The accommodation seems to be a low link, notes the report, highlighting an increasing difference between the high expectations of the owners and a sharp drop in sales of houses. This divergence suggests a potential tension in consumer confidence and a broader economic activity.
