Blockchain
Bitcoin hits the $69,000 mark after a series of large investments
Bitcoin (Bitcoin) the price gained bullish momentum, crossing the $69,000 mark, after a bearish weekend.
BTC is up 1.3% over the past 24 hours and is trading at $69,080 at the time of writing. The market capitalization of the flagship cryptocurrency crossed the $1.35 trillion mark with a daily trading volume of $22.7 billion.
BTC price, RSI, active addresses and profitable offer – June 3 | Source: Santimento
The bullish momentum comes after some large investments in the Bitcoin ecosystem. According to a June 1 report, Paradigm helped the Bitcoin Babylon staking protocol increase $70 million.
Additionally, Tether, the USDT issuer, rushed to buy up to $150 million in Bitdeer shares in a private deal. Bitdeer is a popular Bitcoin mining company and its shares are worth between $6 and $7.
The Republic of Tatarstan, also known as Tataria, is trying build Russia’s largest Bitcoin mining company, valued at around $100 million. Innopolis Tech, a fintech company governed by a former Russian communications minister, will lead the project.
According to data provided by Santiment, the number of active addresses on the Bitcoin network has steadily decreased over the past four days, going from 683,150 on May 31 to 538,240 unique daily active addresses at the time of reporting.
Santiment data shows that the total profit supply increased slightly, from 18.28 million BTC to 18.33 million coins. In particular, 19.707 million Bitcoins have entered circulation so far.
According to Santiment, BTC’s Relative Strength Index (RSI) is currently at 54. The indicator shows that Bitcoin is still in good condition for continued bullish momentum.