Bitcoin fell on Tuesday, amid investors' eagerness for consumer price index (CPI) data to be released on Wednesday as well as the Federal Reserve's policy meeting that is also due to end on the same day.
Bitcoin's number one crypto asset fell 4% to around $66,842, according to data from Dow Jones Market Data. Despite being up 59% so far this year, Bitcoin is still trading more than 9% below its all-time high of $73,798 reached in March.
Funds Out of Bitcoin ETFs
Meanwhile, Bitcoin exchange-traded funds (ETFs) experienced a total outflow of $65 million on Monday, according to data from Farside Investors. This is the ETF's first daily outflow since May 9, based on data from FactSet.
Bitcoin's latest weakness is largely due to risk-averse market sentiment in reaction to macroeconomic data, analysts at crypto trading firm QCP Capital wrote in a note.
Check the Crypto Market Today:
Bitcoin Price Today
In the last 24 hours, the price of BTC has experienced a slight decrease of 0.49%. On June 12, 2024, the world's largest crypto asset by market capitalization, BTC, was trading at IDR 1.108 billion per coin based on data monitoring from Bittime. The daily high price of BTC was at the level of IDR 1.114 billion, while the daily low price was at the level of IDR 1.084 billion per coin.
Source: Bittime
How to Buy Crypto:
Bitcoin Price Prediction According to Crypto Academy
Despite the decline, the price of Bitcoin is currently in a sideways phase in the last 91 days. According to a statement by the Crypto Academy on June 11, 2024, based on its historical data, after a 91-day sideways phase, the price of BTC has the potential to rise again. Crypto Academy assesses that there will be major movements in the next two weeks.
Conclusion
With this situation, the crypto market is in an uncertain sideways phase. Investors are eagerly awaiting further clues from the CPI data and the Fed's policy decision, which is expected to provide a clearer direction for the price movements of Bitcoin and other crypto assets in the future.
Check Crypto Price Today:
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR. To be able to buy BTC IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have a sufficient balance by depositing a certain amount of funds into the wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can only buy crypto assets on the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational and does not constitute an offer or solicitation to sell or buy any crypto assets. Crypto asset trading is a high-risk activity. The price of crypto assets is volatile, where prices can change significantly over time and Bittime is not responsible for changes in fluctuations in the exchange rate of crypto assets.
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