June 21 Crypto Briefing

Market Sentiment:

Bullish: 50%

Bearish: 50%

The current market sentiment 'Fear and Greed Index' is at 49, indicating a neutral zone. This suggests that the market is in a wait-and-see mode.

The current price of Bitcoin is $103,549, having retreated somewhat. Over the past month, Bitcoin reached a peak of $110,261 on June 10, showing a pullback from recent highs. However, annual data indicates that its price has risen significantly from $60,864 in June 2024, highlighting that despite short-term fluctuations, the long-term growth trend remains strong.

Today's Headlines:

1. Bitcoin price is high, but on-chain activity is declining

Despite Bitcoin trading near historical highs, its on-chain activity has significantly decreased. Network data shows a reduction in transaction volume and weak demand.

Impact: This decline in activity indicates that the market structure is shifting towards large players, with whales dominating 89% of the trading volume (up from 66% in November 2022). The lower fee pressure (averaging $558,000 daily) implies reduced retail trading activity, possibly due to the adoption of off-chain solutions or alleviation of network congestion. This may suggest a market maturing, where prices are primarily driven by institutional activity, which could affect retail investor confidence.

2. Bitcoin Cash (BCH) surges to new highs for 2025

Bitcoin Cash (BCH) has quietly become one of the best-performing assets in 2025, soaring 98% from March to June. Driven by increased trading volume and social attention, it has reached an annual high of over $500.

Impact: Supported by a doubling of trading volume, BCH's surge indicates renewed interest from both retail and institutional investors, likely due to its supply cap and large base of long-term holders (97% of wallets). This could attract more value investors, but the pullback from $499.16 to $466.12 also shows its volatility, which may affect short-term traders. However, its long-term holding pattern provides stability for future price appreciation.

Regardless of market fluctuations, remember to stay rational, manage risks well, and don't let emotions drive your investment decisions.

Wishing you successful trading, and always remember to DYOR!