Bitcoin (BTC) added another 2% in value the day before and broke above $31,000.
At the time of publication of this review, BTC was trading at $31,159.
Since the beginning of 2023, the cryptocurrency’s capitalization has increased by more than 80% to $602.935 billion.
BTC’s surge in June was the result of improved sentiment among institutional investors. They were encouraged by BlackRock’s application to issue a bitcoin spot fund ETF. It was sent to the Securities and Exchange Commission (SEC) for review.
According to Arca strategist Kyle Doan, the increase in leverage is accompanied by a wider range of BTC fluctuations.
The analyst stressed: “Market participants remain optimistic, and overall sentiment continues to improve.”
Shares of cryptocurrency company Coinbase on the Nasdaq exchange jumped 12% on Monday. In parallel, the capitalization of miners Marathon Digital and Riot Blockchain increased.
The U.S. stock market closed early the day before in anticipation of the holiday. Shares of software developer MicroStrategy, which accumulates bitcoins, rose 10%. According to IntoTheBlock, the share of profitable BTC addresses on the network increased to 74%. Just over 20% of cryptocurrency holders are now losing.