Bitcoin price declined 6% in the past 7 days, trading at $65,516.
RSI and EMA of BTC are signaling selling pressure.
Bitcoin (BTC), the largest cryptocurrency by market cap, has observed a decline in its active address count, as per the data from Glassnode. Usually, a decline in the active addresses is found during a surge in the Bitcoin transaction fees.
Moreover, the network activity of Bitcoin has reached its lowest in five years, dropping significantly. The entire market sentiment has been wary as Bitcoin’s price fluctuates between $69K-$65K. The regulatory issues and the shift in investor focus might be contributing to the reduced activity. Additionally, economic conditions and market sentiment had a major influence.
Bitcoin price wiped nearly 5% of its value in the past week. It is trading at $65,516 at the time of writing with a decline above 1.48%. However, the trading volume is up by 55.35% at $19.81 billion. Over the past week, it was down by 5.56%. On June 7
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