After a couple of days of fighting bears, the Bitcoin upward momentum seems to be back on track with bulls taking control of crypto market sentiments.
A resurging Bitcoin upward momentum has brought cheers to the crypto market. After trading with subdued sentiments, the Bitcoin trajectory picked up on June 20 and touched $66,000 momentarily. Once bulls gather strength around the zone, a price breakout could be seen. At the same time, Ethereum has also been in the green, touching $3,600 in anticipation of the spot ether ETFs.
The spot Bitcoin ETF in Australia could be a factor that helped sentiments improve in the market. After Hong Kong and the US, Australia is the third country to witness a spot Bitcoin ETF.
As a result, the overall crypto market index experienced an uptick in token prices. However, the crypto market index has to hold its current support over the next few days until next week for a sustained rise.
In hindsight, the spot Bitcoin ETFs across the world have provided a new avenue for new crypto investors. These investors have started investing in BTC, and derived benefits of its gains. The ETFs have become tools of wide crypto adoption globally. The trend will only continue with the upcoming ether ETFs.
The spot Bitcoin ETFs in the US alone hold BTC worth over $50 billion, which is a very positive sign.
BTC/USD 1D price chart
Bitcoin is currently trading at around $65,900 on June 20, 2024, with BTC/USD trading higher by a margin of 1.17% in the last 24 hours. Bitcoin’s market cap was trading at around $1.29 trillion in the last 24 hours.
BTC/USD is trading lower than its 20-day EMA (67,990.82), as BTC’s 24-hour volume was at around $20 billion. The global crypto market cap increased by around 1.49%, trading above $2.41 trillion. BTC’s year-to-date returns are at 56.58%.
Join Millionero today to start trading and investing in crypto!