The bitcoin rate (BTC) on Thursday, June 3, rose to $ 38,862 (+ 5.8%). Capitalization of the largest digital currency increased to $ 727.878 billion.
The market has returned to the green trading area today. Binance Coin (BNB) was again in the top three of cryptocurrencies, having risen in price by 15.6% per day to $ 417.5. Ether (ETH) is currently trading in the region of $ 2850 (+ 7.9%).
Cardano, Dogecoin and XRP rose in value to $ 1.79, $ 0.429 and $ 1.04, respectively. Cryptocurrency market capitalization reached $ 1.75 trillion.
The CryptoQuant team predicts the trend may change this week as miners cut selling bitcoins and moving on to accumulation. Another important signal was the increase in stablecoins on exchanges, which are usually used to buy BTC and ETH.
The conditions for changing the trend were created by Google, which announced the lifting of the ban on the publication of advertising content about cryptocurrencies on its resources. Recall that the ban will be lifted from August 3, but only those exchanges and services that have FinCEN registration will be able to take advantage of the exemptions.
In the Santiment report it says that investment in bitcoin skyrocketed after the coin plunged to a five-month low.
👴📈 #Bitcoin is rallying, and is back over $38.7k. One thing our data platform indicates is that the average age of $ BTC fiat investments has been rising in tandem with the big drop. Note how the avg. age was getting younger & younger during the bull run. https://t.co/Vv2LOhXhL6 pic.twitter.com/rct1Pj5YJu
– Santiment (@santimentfeed) June 3, 2021
If BTC consolidates above $ 38,700, then we should expect the positive trend to continue, at least in the short term, analysts predict.
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