It was anticipated that after Bitcoin ($BTC) broke out of its consolidation phase, it would soon break the $84,000 mark. That was in the $61,000–$64,000 bracket. There has been a minor reversal, though. Although growth is still very much present, it is no longer occurring at the same rate. Over the past seven days, BTC has been trading at over $68,000. The trade volume has likewise fluctuated within a wide range.
Nevertheless, it is unlikely that Bitcoin will benefit traders who trade it for a short period of time.
The ATH for bitcoin was just over $73,000 in March 2024. The accomplishment was noteworthy because it demonstrated the hope that is associated with ETFs and the possibility of higher maturity. Though the ETF has been off the table for a time, the market is maturing and will continue to mature.
BTC closed the day at $69,394.55 on May 27, 2024, with a high of $70,597.88 and a low of $68,232.50 over the course of the previous seven days. The trend changed very little or not at all on May 28, 2024, the following day. With a closing value of $68,296.22, Bitcoin had a maximum value of $69,514.64 and a minimum value of $67,227.15.
On May 29–30, 2024, the closing values were $68,364.99 and $67,578.09, respectively. The lowest figure, which was roughly the same, was $67,100. In the same order, $68,852.46 and $69,500.54 were the highest values.
The range of the trading volume, from 25.87 billion to 32.72 billion, represented the highest and lowest values for the entire week till May 30, 2024.
At $67,962.19, the price of bitcoin has increased by 0.57% over the past 24 hours and 9.94% over the past 30 days. With current volatility of 5.36%, it might reach $87,906 in the next 30 days, representing an increase of 28.79%. In general, opinions are in favor of this bull run.
The fact that a joke coin called PEPE has outperformed Bitcoin makes this noteworthy. In the past 24 hours, it has increased by 10.87%, while during the previous 30 days, it has decreased to 112.49%. The frog-themed meme coin, which is currently trading at $0.00001479, is expected to rise to $0.00004902 over the course of the next 30 days. Consequentlyly, it offers its holders a return of 230.64% with volatility of 27.49%. Regarding PEPE, sentiments are also neutral.
Remarkably, ETH has outperformed BTC in terms of returns over the past 30 days. As of the time of print, holders had gained more than 22%. At $3,744.38, Ethereum is trading hands, up 30.39% over the previous 30 days. Sentiment has an 11.04% volatility rate and is neutral.
Over the last 30 days, WIF, another joke coin, has outperformed Bitcoin. It is currently trading at $3.44, up 36.26%. Its current estimated worth by the end of the following month is $11.33. Banking has therefore gained by 229.14%. The gain in BTC for this window is approximately 28.79%.
Analysts believe that the price of Bitcoin will rise more slowly. The value is already high, and attention is now on the approval of the Spot Ether ETF. When the product becomes live on exchange platforms, traders want to make money, therefore the shift to acquiring ETH is more than just a physical process.
