Bitcoin (BTC) has stabilized above $61,000 after briefly dipping to $59,200 in early Asian trading hours.
According to CoinDesk Indices data, the world’s largest digital asset is currently down 2% over the past 24 hours and 6% over the last week. The CoinDesk Indices Bitcoin Trend Indicator reflects a notable downtrend, contrasting with the flat performance of the CoinDesk 20, which measures the largest digital assets. Ether (ETH), notably, has not experienced the same level of pricing pressure as Bitcoin.
Meanwhile, Lido (LDO), an ether staking protocol, has shown strong performance, rising 14% in the day and 25% over the past week. Traders have been drawn to Lido due to its attractive fees, revenue potential, and total value locked.
Recent days have seen Bitcoin facing significant selling pressure, attributed partly to upcoming Mt. Gox bankruptcy redemptions and miner sell-offs.
Market data indicates that Bitcoin ETFs saw an outflow of $174 million as trading concluded in New York on Monday. This follows a nearly $1 billion outflow the previous week.
Looking ahead, Polymarket’s predictions give a 14% chance of Bitcoin rebounding to $65,000 by the end of the week. In contrast, there is a 71% probability that an ether ETF will commence trading by July 4, as per Polymarket bettors’ assessments.
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