The price of Bitcoin (BTC) has surged past $69,000, showing bullish momentum following a bearish weekend.
BTC has seen a 1.3% increase in the last 24 hours, reaching $69,080 at the time of this writing. The leading cryptocurrency’s market cap has exceeded $1.35 trillion, with a daily trading volume of $22.7 billion.
This upward trend comes after significant investments in the Bitcoin ecosystem. Paradigm reportedly assisted Babylon, a Bitcoin staking protocol, in raising $70 million on June 1.
In another development, Tether, the issuer of USDT, swiftly purchased up to $150 million worth of Bitdeer shares in a private transaction. Bitdeer, a prominent Bitcoin mining company, has shares valued between $6 and $7.
The Republic of Tatarstan, also known as Tataria, is aiming to establish the largest Russian Bitcoin mining company, valued at approximately $100 million. Innopolis Tech, a fintech company led by a former Russian minister of communications, will spearhead this ambitious project.
According to Santiment data, the number of active addresses on the Bitcoin network has been steadily decreasing over the past four days, dropping from 683,150 on May 31 to 538,240 unique daily active addresses currently.
Santiment data also reveals a slight increase in the total supply in profit, rising from 18.28 million BTC to 18.33 million coins. To date, 19.707 million Bitcoins have been circulated.
The BTC Relative Strength Index (RSI) currently stands at 54, indicating that Bitcoin remains well-positioned for a continued bullish trend.
For more insights, check out the top cryptocurrencies to watch this week: NOT, AXS, TIA.