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Bitcoin adoption grows despite June price slump as new addresses surge. BTC faced a challenging June with a consistent price decline, disappointing many short-term investors. However, on-chain data reveals a bullish outlook for the cryptocurrency. The number of new Bitcoin addresses has increased to 352,124, the highest level in the past two months, indicating rising use.
New Post: Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs https://t.co/y61TIqKblc #cryptocurrency
— News 4 Social – Talk About Latest Trend (@newsforsocial) June 30, 2024
Notable advancements in the Brazilian sector, wherein Nubank—the biggest neobank in Latin America—announced intentions to include the coin lightning network, support this trend. This integration may expand Bitcoin’s user base to a possible 100 million users, therefore enhancing its long-term development prospects. The growing user base of the network indicates that Bitcoin has a bright future, even with the recent decline.
Key Bitcoin Levels To Watch – July 2
BTCUSD is showing bullish potential after bouncing off the support level at $58414.0. The price is currently trading above the 9-day SMA, indicating a shift in momentum.
The RSI (Relative Strength Index) is at 40, suggesting there’s room for further upward movement before reaching overbought conditions. The price is expected to rise towards the resistance levels at $65523.0 and $67051.0, with a longer-term target at $73836.0.
BTCUSD Key Levels
Resistance Levels: $65520.0, $73840.0, $80000.0
Support Levels: $58410.0, $56500.0, $50510.0
Bitcoin Metrics
Total Market Capitalization: $2.27T
Bitcoin Market Capitalization: $1.21T
Bitcoin Volume: $13.52B
Market Rank: #1
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