Bitcoin Investors Place $500 Million In Spot BTC Bids Below Market Price

Quick Summary:

Notably, data shows an interesting $500 million increase in bids below the spot price and a rise in open interest, as pointed out by popular crypto analyst Daan Crypto Trades.  Bitcoin Investors Place $500 Million Bids Below Price Bitcoin traded for the majority of the weekend just above $61,000 as the bulls fought to prevent another drop below $60,000.

This creates intense support levels, making it extremely unlikely we’ll see a capitulation-style price collapse below $60,000 anytime soon.  Furthermore, Daan Crypto Trades pointed out a corresponding increase in the Bitcoin open interest.

End of the quarter usually causes some interesting moves.pic.twitter.com/7SJh6EYs7J — Daan Crypto Trades (@DaanCrypto) June 29, 2024 What To Expect In July Bitcoin’s price action in June definitely surprised many investors.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: BTC news Btcusd Bitcoin news Btc price Bitcoin price Bitcoin Bitcoin BTCUSDT Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-01 @ 16:00:41 (2 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 523 words

Reading Time: 3 minutes read

Sentences: 69 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21447231

View Article Analysis

About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 8 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 11 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions