Les cours des cryptos en baisse : le bitcoin passe sous les 60 000 euros

Bitcoin’s price drops below €60,000 as crypto markets deflate

The price of Bitcoin has fallen below €60,000, marking a significant drop in the crypto market. Despite this decline, optimism continues to prevail among market participants.

On June 21, Bitcoin’s price dropped to less than €60,000, a level not seen since May 15. This decrease comes as no surprise considering the market’s volatility over the past week. In the United States, Bitcoin ETFs have experienced seven consecutive days of outflows since June 10, a trend not seen since late April. This sell-off by investors is closely tied to the selling activity of Bitcoin miners, who tend to liquidate a significant portion of their Bitcoin holdings a month after the halving event, especially around the $70,000 mark. According to CryptoQuant, miners currently hold around 1.8 million Bitcoins, the lowest level in three years, valued at $115 billion, representing 9% of Bitcoin’s total market capitalization.

While the decreasing reserves of miners may indicate a short-term bearish trend, there are also signs of hope in the market. Other major holders, such as the German government, have begun selling their seized Bitcoin assets this week, valued at $3 billion. Additionally, the derivatives market, particularly options trading, allows speculators to bet on both bullish and bearish movements. Some traders on Deribit are eyeing prices between $90,000 and $100,000 by the end of the year, suggesting a more optimistic outlook.

Despite the current market conditions, companies like Microstrategy continue to invest in Bitcoin, with the recent announcement of purchasing over 11,900 Bitcoins for $780 million on June 20. These ongoing investments and the enthusiasm in the derivatives market are providing a glimmer of hope amidst the recent price decline.