Bitcoin (BTC) has surged past the $69,000 mark, gaining bullish momentum following a bearish weekend. As of the latest update, BTC has risen by 1.3% over the past 24 hours, trading at $69,080. Its market cap has exceeded $1.35 trillion, accompanied by a daily trading volume of $22.7 billion.
This uptrend follows notable investments within the Bitcoin ecosystem. On June 1, Paradigm assisted Babylon, a Bitcoin staking protocol, in raising $70 million. Additionally, Tether, the issuer of USDT, swiftly acquired up to $150 million worth of shares in Bitdeer, a prominent Bitcoin mining company.
The Republic of Tatarstan, also known as Tataria, is embarking on the ambitious endeavor of establishing the largest Russian Bitcoin mining company, estimated at approximately $100 million. Innopolis Tech, a fintech firm led by a former Russian communications minister, will spearhead this initiative.
Despite these positive developments, data from Santiment indicates a decline in the number of active addresses on the Bitcoin network over the past four days. From 683,150 on May 31, the count has decreased to 538,240 unique daily active addresses at present.
Meanwhile, Santiment’s data reveals a slight increase in the total supply of BTC in profit, from 18.28 million to 18.33 million coins. Notably, a total of 19.707 million Bitcoins have entered circulation thus far.
The BTC Relative Strength Index (RSI) currently stands at 54, suggesting favorable conditions for sustained bullish momentum.
