Bitcoin (BTC) Price Hits One-Month Low – Bull Run Ending?

The price of Bitcoin (BTC) has reached its lowest level in a month. How to explain the hesitation of the largest cryptocurrency and how are the altcoins around it?

Bitcoin (BTC) price at half mast in mid-June

Last March, the price of Bitcoin (BTC) hit a new all-time high of more than $73,700. But three months later, the bull run appears to have run out of steam. If the largest cryptocurrency flirted with the $72,000 mark in early June, the weeks that followed were less fun :

Bitcoin price drops in June

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This morning, the price of BTC actually dropped to a low of $64,500 during the month. Its capitalization this morning is $1.295 billion. However, this remains remarkable: the $65,000 area actually matches her last all-time high.

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ETF at the origin of this shortness of breath?

This slowdown goes hand in hand with the data we know about the BTC ETF. After being the trigger for the bull run of recent months, they seem to be attracting less attention from investors. They marked a turning point a week ago and ended a 19-day streak of net inflows.

❓ Don’t miss our article – What are Bitcoin ETFs and why are they so important?

In addition, the macro context does not support investments in products considered risky. Major elections – in the European Union, the United States and soon in France – have taken place or will take place, and non-crypto financial markets are also showing some caution.

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Some altcoins hold up better than others

However, it should be noted that Buoyed by news of its own ETFs, Ether (ETH) is still clearly in the green for the month : actually hanging +10% for last 30 days. Binance’s BNB is also in a better position: showing +2% over the same period. But with Solana SOL, it’s the exact opposite: the cryptocurrency lost 30% in a month.

👉 To learn more – Spot Ethereum ETF Available This Summer? Possible, says Gary Gensler

But in the cryptocurrency sector, it is often Bitcoin that carries all its weight, because at this stage it represents more than half of the total market capitalization of this asset classpp. And it shows: the total capitalization has fallen by 2% in the last 24 hours.

Sources: TradingView, CoinGecko

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