Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/breaking-levels-in-bitcoin-price-eyes-80000-in-june/">Bitcoin Price Eyes $80,000 In June : Here’s Why</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>With a bullish recovery rally starting in the Bitcoin prices, the broader market sentiments pump up. Amidst the bull run, the altcoins are aiming for a trend reversal, with some outperforming tokens reaching all-time high levels.&nbsp;</p> 
<p>As the market turns bullish, the BTC price surpassing the $70,000 mark overnight reveals massive demand. Further, the 27% surge in the trading volume bolsters the positive move and signals an uptrend continuation.&nbsp;</p> 
<p>As the Bitcoin price surpasses the $70K level, the buyers are staying optimistic but cautious against a bull trap like the previous failed rally. Is the price jump a short-term rally, or will the BTC price reach the $80K mark?&nbsp;&nbsp;</p> 
<p>Let’s examine our detailed price analysis for a clearer view of the BTC price trend. You can also check out our <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price prediction</a> to determine the chances of Bitcoin hitting the $100,000 milestone this year.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-performance">Bitcoin Price Performance</h2> 
<p>With a short-term rounding bottom reversal, the BTC price shows a post-retest rally gaining momentum. The Bitcoin price takes off from the broken resistance trendline of a flag pattern to surpass $70,000 with a morning star pattern.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf9JLf6_5NEnTZC99zxT-kU0m0TQizsj7aKdqlEZKHZ2j34l5xTuFYm4IIiagy38oS-o_ZEC6Yi_m2pb_sggl8CrWeze4uScTSfAg7Y-2obq7ux_rumSITcrz3LKPm1na7hHGdUoG6EXSHQEnK3XdktWPDB?key=khh7d2PEM19Qp3MO7ECMng" alt="">
</figure> 
<p><a href="https://www.tradingview.com/x/yHJu8cwD/">Tradingview</a></p> 
<p>With a streak of three bullish candles, the Bitcoin price is up by 5.67% in the last four days, challenging the $71,500 peak. Furthermore, the bullish recovery surpasses the trend-based 50% Fibonacci level with a boom in trading volumes.&nbsp;</p> 
<p>Currently, the BTC price trades at $71,262 with an intraday rise of 0.96%. This reflects a bullish trend continuation and heads for a new all-time high level.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-bitcoin-etfs-slowdown-drys-btc-uptrend">Bitcoin ETFs Slowdown Drys BTC Uptrend</h2> 
<p>On June 5th, Bitcoin spot ETFs saw a significant intraday net inflow of $886 million, marking 16th consecutive positive day. Further, it marks the second biggest total net daily inflow since the billion-dollar inflow on 12th March.&nbsp;&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcKXCEd_Rm77T_eMu8RqZ9Hrun-sTfP8Cyn-V-xWiXChOOSKVAStWVKPm2HX5nb0gKYU9xlCq3dLOrzP-U8e9eZyPwLO0uf6iFK6vsCK2P6fUIqEjatFDtoXRq1_hZiMJkqbkEg5gQKiuWMAyeVN_LX7Us?key=khh7d2PEM19Qp3MO7ECMng" alt="">
</figure> 
<p><a href="https://sosovalue.xyz/assets/etf/us-btc-spot">Sosovalue</a></p> 
<h2 class="wp-block-heading" id="h-derivatives-maintain-bullish-outlook-nbsp">Derivatives Maintain Bullish Outlook&nbsp;</h2> 
<p>The funding rate for Bitcoin stands at 0.02129407, revealing a solid bullish sentiment with long-side traders dominating and willing to pay premiums to shorts. Furthermore, Bitcoin’s open interest has jumped by 15.76% over the last seven days to reach $19.4 billion. Thus, the uptrend in open interest supports the ongoing bullish price movement in the derivatives market.</p> 
<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2> 
<p>As the bullish momentum increases to fuel the uptrend in Bitcoin prices, the sideline players anticipate the bull run to surpass $73,800. This will result in a new all-time high level and fuel the bullish trend to potentially reach the $77,842 mark in the coming weeks. Optimistically, the uptrend could reach the $80,000 milestone by the end of this month.&nbsp;</p>

Bitcoin Price Eyes $80,000 In June : Here’s Why

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