Bitcoin (BTC) fell below $64,000 for the first time in a month on June 21. The last time Bitcoin price traded below $64,000 was on May 15, when it rose from a low of $61,299 to $71,980 on May 21. At press time, the largest cryptocurrency by market capitalization was trading at $63,552, down 3.54% over the last 24 hours. 📉

Investments in Bitcoin ETFs are declining, which affects the price of BTC. Investors withdrew capital within a few days. On June 19, outflows of funds from Bitcoin ETFs were recorded in the United States for the fifth day in a row, the total withdrawal volume for the week amounted to $900 million.

Another reason for the decline in the price of Bitcoin may be a decrease in demand due to a decrease in activity on the network. Glassnode data shows that the number of active addresses on the Bitcoin network dropped from 971,789 addresses on April 4 to 632,620 on June 20. This indicates a decrease in demand for BTC within the ecosystem, which reduces its price.