Bitcoin Hits $65,000: What You Need to Know
Bitcoin is trading above $65,000 for the first time in over a week, showing a 0.5% increase from the previous day. The overall crypto market is also benefitting from this positive trend, with a global market capitalization of $2.5 trillion and a 1.3% gain in the past day. Here’s what you need to know about Bitcoin’s recent performance:
Bitcoin Price Analysis
– Bitcoin price has backtracked slightly to $64,264.08, still 3% higher than the previous week.
– $13 billion worth of BTC has been traded in the past day, with 22% of the volume on Binance.
– The First Digital USD stablecoin on Binance has been the most popular trading pair for BTC investors, accounting for $3 billion in volume.
Bitcoin Network Milestones
– Bitcoin network has processed over 1 billion transactions.
– Runes protocol has become the main driver behind growing daily transactions on the Bitcoin network, accounting for roughly 60% of all transactions.
Recent Bitcoin Developments
– An old wallet from 2011 moved $44 million worth of BTC, showcasing long-term hodling.
– Runes protocol introduces a new era of fungible tokens on the Bitcoin network, following the legacy of BRC-20 tokens.
Hot Take: The Future of Bitcoin
Bitcoin’s recent price surge and network developments signal a positive trend for the cryptocurrency. With new protocols like Runes boosting daily transactions and old wallets showcasing long-term hodling, Bitcoin continues to evolve and strengthen its position in the crypto market.
Sources:
– 1 billion transactions milestone
– Runes protocol dashboard
– Old wallet movement tweet
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