Ethereum

Bitcoin

Notable

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-outpaces-ethereum-and-xrp-in-key-metric/" data-wpel-link="internal">Bitcoin Outpaces Ethereum and XRP in Key Metric</a> 
<a href="https://en.coin-turk.com/bitcoin-adoption-is-rapidly-increasing-what-are-the-advantages/" data-wpel-link="internal">Bitcoin</a>, after triggering major exchange withdrawal transactions among cryptocurrencies, returned to $67,500 on June 12. Data from TradingView showed Bitcoin’s price movement was stable as markets prepared for macroeconomic events in the US. Bitcoin had fallen to $66,000 the previous day, leading to over $50 million in long liquidations according to data from CoinGlass. 
<h2 class="p1" style="text-align: justify" id="what-is-happening-on-the-bitcoin-front">What Is Happening on the Bitcoin Front?</h2> 
The events followed a pattern seen before the Fed’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> meetings and the release of the May Consumer Price Index (CPI). Many investors reacted by noticing the classic Bitcoin price behavior, combined with the fact that the BTC/USD pair was at key resistance below all-time highs. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361610" src="https://coin-turk.com/wp-content/uploads/2024/06/quinten.png" alt="" width="500" height="564"> 
Popular investor Follis shared the following statements on X regarding the process: 
<blockquote> 
 “The same accounts in the crypto community are starting to demand higher and say $100,000 is programmed. We say we will leave the bears behind and escape. The truth is Bitcoin has been trading in a specific range for only 3 months.” 
</blockquote> 
At the time of writing, CoinGlass data showed liquidity increased downward around $65,700, and $67,700 formed the main obstacle to overcoming higher rises. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361608 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-liq.png" alt="" width="1642" height="886"> 
Popular investor and analyst Rekt Capital compared this Bitcoin price cycle with previous ones, stating that history prevails and added: 
<blockquote> 
 “Bitcoin has not made such an early exit in the post-halving period as history suggests.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361605 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-yorum.jpg" alt="" width="1794" height="1266"> 
<h2 class="p1" style="text-align: justify" id="notable-data-for-bitcoin">Notable Data for Bitcoin</h2> 
Meanwhile, on-chain data captured ongoing exchange withdrawals, particularly focusing on the US’s largest exchange, Coinbase. As highlighted earlier this month, the total Bitcoin balance on Coinbase Pro dropped by 14,420 Bitcoin within 24 hours of writing this. This added to the current exchange balance declines. 
In the 30 days up to June 12, Coinbase experienced a drop of over 38,000 Bitcoin, with overall exchange balances at their lowest in seven years. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-361604 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/data.png" alt="" width="1413" height="711"> 
Blockchain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data analysis</a> platform Glassnode identified the net transfer volume from exchanges as 17,967 Bitcoin on June 11. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-361602 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/hacim.png" alt="" width="1800" height="1013"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-outpaces-ethereum-and-xrp-in-key-metric/" data-wpel-link="internal">Bitcoin Outpaces Ethereum and XRP in Key Metric</a></h5>

Bitcoin Outpaces Ethereum and XRP in Key Metric

Table of Contents

COINTURK NEWS

Other articles published on Jun 12, 2024

Solana Prediction: Can $150 Support Pave the Way to $200?

BlockDAG Surpasses AVAX And Bitcoin ETFs With Massive Presale Success And 30,000X ROI Potential

Spot Ethereum ETFs Fail To Push ETH Price Above $4,000, What Altcoins Should You Buy Instead?

Best Cryptocurrencies to Invest in Right Now June 12 – Hedera, Uniswap, Polkadot

Top 4 Altcoins to Watch in June 2024: ARB, INJ, MANTA, and PYTH Ready for Massive Growth

BloFin Exchange Enhances Compliance and Security with Chainalysis

Join our free newsletter for daily crypto updates!