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    Bitcoin Price Prediction As US BTC Miners Reach Record Market Cap in June, This Learns How to Earn a Small Fee of Up to $3 Million

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    Bitcoin price

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    Bitcoin price is down 4% in the past seven days and more than 1% in the past 24 hours to trade for $65,507 as of 00:15 AM EST on trading volume that is up 125%.

    The dump saw 190 traders lose their positions, causing a total liquidation of nearly $500 million across the market.

    Total liquidation

    Meanwhile, JPMorgan analysts reported that US Bitcoin miners reached a record market value of $22.8 billion in the first half of June. The report, by Reginald Smith and Charles Pearce, was featured in a June 17 report to clients, citing rising hash rate share and AI data center diversification opportunities.

    The report says that shares of the 14 US-listed mining companies rose in the first half of June. Core Scientific, TeraWulf, and IREN advanced with gains of 117%, 80%, and 70%, respectively. The only miner to suffer a price drop in June was Argo Blockchain.

    Analysts stressed that the total market value of the sector rose by 24%, representing an increase of $4.4 billion since the end of May.

    JP Morgan

    Market capitalization of US-listed BTC miners, Source: JPMorgan

    Analysts attribute the rise to investor reaction to an agreement between Core Scientific and AI cloud provider CoreWeave. Specifically, CoreWeave offered to buy BTC mining company Core Scientific for $1.6 billion earlier this month. This valuation represents a 55% premium over the market price.

    It is worth noting that the offer was rejected after a 12-year partnership contract worth $3.5 billion between the two entities. This has enabled CoreWeave to host its AI services on top of Core Scientific’s data centers.

    Bitcoin price forecast

    Bitcoin price is trading with a bearish bias, hitting its highest levels since early June. A series of red candles saw the value of the leading cryptocurrency drop by almost 10%. The market is indicating a further downtrend, as technical indicators are leaning towards the downside.

    Initially, the Relative Strength Index (RSI) declines, indicating declining momentum. The Moving Average Convergence Divergence (MACD) is also below the orange band of its signal line. This shows significant bearish sentiment in the BTC market.

    If selling pressure increases and Bitcoin price falls below the 50% Fibonacci level at $65,120, it will trigger panic selling. An extended slippage below the 61.8% Fibonacci retracement level at $63,125 would negate the big picture bullish outlook.

    Bitcoin

    GeckoTerminal: 1-day BTC/USD chart

    On the other hand, a show of strength among Bitcoin bulls could send Bitcoin price above the 38.2% Fibonacci retracement level at $67,114. This move, effectively representing an escape from the golden Fibonacci zone, would set the pace for further upside.

    Increased buying pressure could restore Bitcoin price above the 23.2% Fibonacci retracement level at $69,581. In a very bullish case, gains could be extrapolated to BTC regaining its peak at $73,570, levels last tested in mid-March.

    Meanwhile, investors are flocking to 99BTC, a learn-for-profit platform that YouTuber TodayTrader says has “huge potential.”

    A promising alternative to Bitcoin

    99 Bitcoin It is a well-established educational platform that boasts best-in-class educational resources for cryptocurrency beginners.

    99BTC

    The project is now moving to Web3 with its 99 Bitcoin token and a new and innovative learn-while-learning experience for users of the site.

    99Bitcoins motivates learning through a unique blend of gameplay and a leaderboard rewards system. This ensures that users feel that their learning brings tangible benefits. Simply put, you can earn cryptocurrencies while learning cryptocurrencies.

    You can also stake your 99BTC holdings to get rewards of up to 762% p.a. To date, over 1.43 billion tokens have been staked.

    Investors have already pumped more than $2.2 million into the project. If you want to join them, you can buy 99BTC tokens for $0.0011 before the price rises in less than seven days.

    Visit and buy 99Bitcoins here.

    Read also:

    99Bitcoins (99BTC) – a new code to learn how to make money

    99 Bitcoin
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    99 Bitcoin


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