✔️ Here's What You Need For Bitcoin Price Recovery
BTC has been in a downtrend for over two weeks and is currently trading 13.8% below its ATH of $73,835 on March 14th. Analyst Willy Wu noted that BTC will only begin to grow when “weak miners leave” and hashrate recovers. By comparison, hashrate recovery took 24 days in the 2017 cycle and only 8 days in 2020. So far we have already waited 61 days.
😔 The work week ended with an outflow of capital from the ETF, which amounted to $105.9 million. This was the 6th day of capital outflows in a row, which has a negative impact on the price of BTC.
🔹 Ethereum ETF is one step away from launch. Yesterday, Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock filed an updated version of their spot application for the Ethereum S-1 ETF. The start of trading is scheduled for July.
⚡️ The 24-hour USDT trading volume on Tron is $53 billion, which is higher than Visa's average daily trading volume of $42 billion.
