Bitcoin plunge continues to trigger bullish signals in spite of market’s bearish mood

02 Jul 2021

???? BTC | $33,719 (-1,060, -3.0%)

???? ETH | $2,125 (-124, -5.5%)

???? XRP | $0.66 (-0.03, -4.5%)

???? LTC | $138 (-5, -3.5%)

The number of active Bitcoin addresses has now sharply declined to around when this bull run started – April 2020. A fall in active addresses typically precedes bearish price action, as it indicates falling demand for BTC.

Strike – the company that helped El Salvador to adopt Bitcoin is due to let US customers buy and sell Bitcoin for ruinously low fees (0.3%) in a matter of weeks. By comparison, the market leader Coinbase is charging 3.99%.

A long-term indicator tracking Bitcoin’s valuation has now momentarily flashed a Buy signal – the Puell Multiple was last triggered in May 2020, at the start of the past year’s bull run.