what to expect for June?

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Bitcoin (BTC) experienced a 11% price increase in May, marking the best performance in May of the last five years. The cryptocurrency saw a red surge between 2021, 2022, and 2023, which has since reversed in 2024. This 11% increase is the best since the 52% recorded in 2019. Coinglass records show that this is the largest increase for Bitcoin in a single month since then. Historical data shows that May has been a stable price for BTC. The current performance has managed to reverse nearly all the loss of April, with BTC losing nearly 72.300 dollars to just over 60,000. The green leaf of May has also lost nearly all the red leaf of April.

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During the month ending May, the BTC price rose from 60.600 to over 67.500 dollars, while the cryptocurrencies price is significantly below the 71.979 recorded on May 21. This has led to a negative trend for BTC prices, with only a small drop of over 5%. After reaching a historic high of 73,000 dollars, the cryptocurrency has weakened, with a decrease in ETF interest since the beginning of the year. Nodecharts has identified signals pointing to alcist movements, particularly the activation of long-term inactive bitcoin supply, which is considered a factor preceding alcist trends.

Companies' registrations at the SEC show that institutional interest in Bitcoin has strengthened in 2024, with organizations with ample capital available to invest already in the market. Analyst Willy Woo noted that institutions have changed their financial approach, now buying the risk instead of selling it, potentially marking a significant purchase of participants and catalyzing a new alcista impulse to Bitcoin. Woo also highlighted that Bitcoin is preparing to break its maximum historical high and move to the $75,000 dollar zone for the first time.

There has been a price fund and capital flow towards Bitcoin. Unlike the previous market, which was dominated by unknown parties or a strong minority sector, now institutions are recognized, regulated, and report their financial statuses regularly. Franklin Templeton, one of ETF's investors, is recognized for demonstrating that the Bitcoin market has always changed with the arrival of backed funds.