1. The price of bitcoin has significantly increased, at the end of May, it was trading at $67,520, up 19% for the month. According to analysts, June could see Bitcoin reach $75,000 because of strong buying momentum and a favorable Taker Buy/Sell Ratio in the futures market.
2. Market optimism is being driven by significant inflows into Bitcoin ETFs. The main source of momentum behind this development has been arbitrage trading rather than regular investors.
3. In the political events, former US president Donald Trump has stated that he strongly believes that Bitcoin should be âmade in the USAâ.
4. New energy-efficient Bitcoin mining technologies such as SEAL04 chip are being developed with the goal of increasing the productivity and sustainability of mining operations.
These suggests a potentially promising month ahead for investors and stakeholders.
