2024

Bitcoin

<p>The Bitcoin market is experiencing a consolidation phase after the 2024 halving. While some key indicators are encouraging, others should be considered with a degree of caution. However, the upcoming arrival of a Bitcoin spot ETF in Australia could breathe new life into the market.</p>
<h2 id="h-the-realized-cap-of-bitcoin-is-a-confidence-indicator">The realized cap of Bitcoin is a confidence indicator</h2>
<p>The realized cap of Bitcoin currently stands at <strong>nearly $600 billion</strong>. It is a measure of the total value of all BTC in circulation, calculated based on the price at which each Bitcoin was last traded. This measure is more accurate than market capitalization, as it does not take into account inactive BTC. The rise in the realized cap after the halving 2024 indicates growing investor confidence in Bitcoin.</p>
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<h2 id="h-contrasting-technical-indicators">Contrasting technical indicators</h2>
<p>Despite the rise in the realized cap, <a href="https://x.com/CryptoSlate/status/1797878450696659181" target="_blank" rel="noopener noreferrer nofollow">the number</a> of active Bitcoin addresses has recently reached its <strong>lowest level in five years</strong>. This reflects a decline in crypto trading activity. Similarly, the Bitcoin hashrate saw its largest 7-day drop since July 2021. This could indicate a decrease in miner participation. Miners are responsible for validating transactions and securing the Bitcoin network.</p>
<h2 id="h-the-arrival-of-a-bitcoin-spot-etf-in-australia-a-new-breath-for-the-market">The arrival of a Bitcoin spot ETF in Australia: a new breath for the market?</h2>
<p>The Bitcoin spot ETF is expected to debut in Australia on <strong>June 5, 2024</strong>. According to some experts, this could give a new boost to the Bitcoin market. Bitcoin spot ETFs allow investors to buy and sell Bitcoins without having to hold the tokens themselves. This could make Bitcoin more accessible to a larger number of investors&nbsp;!</p>
<p>The Bitcoin market is therefore still seeking equilibrium. The indicators are mixed. But the upcoming arrival of the Bitcoin spot ETF in Australia could boost the queen of cryptocurrencies.</p>

Bitcoin: Market Consolidation Following the 2024 Halving?

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