Bitcoin

when

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-experiences-decline-despite-positive-inflation-data/" data-wpel-link="internal">Bitcoin Experiences Decline Despite Positive Inflation Data</a><br></p>
<p style="text-align: justify">Despite the positive inflation data announced in the US recently and the <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> remaining unchanged, <a href="https://en.coin-turk.com/bitcoin-faces-prolonged-consolidation-period/" data-wpel-link="internal">Bitcoin</a> experienced a clear decline. This drop also raised questions regarding ETFs.</p> 
<h2 style="text-align: justify" id="current-status-of-bitcoin-etfs">Current Status of Bitcoin ETFs</h2> 
<p style="text-align: justify">When examining spot Bitcoin ETFs traded in the market today, there was a decline of 2,199 Bitcoins, equating to approximately $153.4 million. The primary contributors to this decline were two major participants, ARK21Shares and Grayscale. ARK21Shares alone saw a drop of 840 BTC, representing $58.6 million.</p> 
<p style="text-align: justify">Looking at the company’s assets, on June 12, ARK21Shares had 48,199 BTC valued at approximately $3.36 billion. Meanwhile, Grayscale experienced a decline of 580 BTC, valued at over $40 million. On June 12, Grayscale held 283,966 BTC with a total value of $19.81 billion.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-362244" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-3-coin-turk-com.png" alt="" width="872" height="1096"></p> 
<p style="text-align: justify">These exits could indicate a decrease in interest from large investors and a potential decline in their confidence in BTC’s long-term journey.</p> 
<p style="text-align: justify">Smaller investors, who might follow the actions of large investors, could adapt to the panic environment and expand the selling atmosphere. This week’s data. Additionally, this week, miners transferred large amounts of BTC to exchanges, a situation that occurred when the price was at the $70,000 level.</p> 
<p style="text-align: justify">Comments continue to circulate that miners are best evaluating the price movements in the market. These sales are believed to be related to the BTC halving that occurred in recent months. It is discussed that miners, whose revenues have decreased, are now required to sell.</p> 
<p style="text-align: justify">On June 10, it was noted that miners sold 1,200 BTC, the peak point of the last two months.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-362245" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-2-coin-turk-com.png" alt="" width="924" height="516"></p> 
<h2 style="text-align: justify" id="current-btc-status">Current BTC Status</h2> 
<p style="text-align: justify">As of the time of writing, after a 2.34% decline in the last 24 hours, BTC is at $66,900. Following the decline, Bitcoin’s trading volume is at $1.319 trillion. In addition to the price and volume decline, BTC’s 24-hour trading volume dropped by 15% to $29.2 billion.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-362246" src="https://coin-turk.com/wp-content/uploads/2024/06/btc-coin-turk-com-1.png" alt="" width="929" height="319"></p> 
<p style="text-align: justify">Considering all these declines, it is also discussed in the market that there is a decrease in interest in BTC.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-experiences-decline-despite-positive-inflation-data/" data-wpel-link="internal">Bitcoin Experiences Decline Despite Positive Inflation Data</a></h5>

Bitcoin Experiences Decline Despite Positive Inflation Data

Table of Contents

COINTURK NEWS

Other articles published on Jun 13, 2024

GameStop Server Crash Delays Shareholder Meeting Amid High Turnout

Altcoins Show Resilience Against Bitcoin’s Decline

Play-to-Earn Meme Coin Project PlayDoge Raises $4M in Trending Presale

Qubetics Whitelist: The Next Big Opportunity for Crypto Investors as Avalanche and Polkadot Struggle

Transfer Your Metafluence Coins to MetaMask!

Supra.com & Killer Whales Launch Super dApp Showdown Contest With $100M Ecosystem Fund

Join our free newsletter for daily crypto updates!