Bitcoin signals a strong buy sentiment after surpassing recent resistance levels and establishing new support. It briefly touched $71,040 before pulling back, a critical price level as it nears its all-time high of $73,679.
Additionally, U.S. spot Bitcoin ETFs saw their second-largest net inflow, totaling $887 million, with Fidelity Wise, BlackRock, and ARK 21Shares leading the charge. Market optimism is further fueled by the growing interest in Bitcoin ETFs beyond the U.S., extending to Hong Kong and Australia.
With HODLers selling their assets coming to an end, Bitcoin exchange funds saw net inflows of $148 million last week, while Ethereum attracted $33.5 million. However, the Federal Reserve doesn’t indicate a possibility of changing interest rates in June and July, with possible cuts only anticipated in September.
As of 10:00 AM, 5th June 2024, on WazirX, Bitcoin’s current price is ₹59,83,143. Its price has increased by 0.72% in the last 24 hours.
Ethereum (ETH) is trading at ₹3,22,443, up by 0.88% in the last 24 hours.
The top gainers on WazirX include Beta Finance(BETA), Alpaca Finance (ALPACA), and TokenFi (TOKEN), with price increases of 52.89%, 34.46%, and 14.39%, respectively.
However, the tokens that underperformed comprised Band Protocol (BAND), Pixel (PXL), and Lido DAO (LDO), with a price decrease of 13.29%, 7.89%, and 7.28%, respectively.
Shiba Inu (SHIB) saw a price increase of 5.66% and is now priced at ₹0.002183. Dogecoin (DOGE) saw an increase of 1.39% and is now priced at ₹13.50.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
