Week 24: Uncover BTC prices & more from the Bitcoin Street Journal. Don’t miss the Market Update!

Week 24 brought a wave of news from the Bitcoin Street Journal. From rising BTC prices to updates from the crypto market, here’s a recap of this week’s key developments.

Many crypto enthusiasts were excited to witness BTC reaching its highest market capitalization in its history, passing the $1 trillion mark. This feat was achieved on April 14th, propelling Bitcoin to a new record high of $61,000 and making it the most valuable asset in the world.

The market update for Week 24 was encouraging to say the least. Besides the all-time-highs in BTC, altcoins also experienced significant growth. Ethereum, Binance Coin, Cardano, and Dogecoin recorded appreciable gains throughout the week and propelled crypto trading volume to $1.4 trillion. This was the second-highest figure since the beginning of 2021, with the previous being $1.7 trillion in the week of February 5th.

It has also been reported that the institutional inflows of Bitcoin on exchanges have hit an all-time high. According to Glassnode data, over 93,000 BTC was withdrawn from exchanges in Week 24. This figure is 165% higher compared to the previous week, illustrating the growing confidence among institutional investors for this asset class.

To top it all off, Chainalysis noted that Bitcoin trading volume has nearly doubled since early 2021. The number of BTC held by whales, who are defined as investors who hold 1,000 BTC or more in their wallets, has also increased significantly from 2.21M to 2.43M BTC in the period.

Whether it was BTC prices reaching new ATHs or the surge in institutional inflows, crypto investors were clearly spoilt for choice this week. From what transpired in Week 24 of the Bitcoin Street Journal, it is clear that the crypto market continues to flourish and will remain a key player in the 2021 financial landscape.
Welcome to the latest Bitcoin Street Journal Market Update! As the cryptocurrency market continues to reach new heights, the Bitcoin Street Journal is here to provide you with all the latest news and information for Week 24. We’ll be taking a deep dive into the current Bitcoin market situation to bring you prices, news, and more, so that you never miss a beat. So let’s get started with Week 24’s Bitcoin Market Update!

1. Bitcoin Street Journal Provides Insight Into Week 24 BTC Prices

Scale: Medium.

The Week 24 Bitcoin Price Analysis

The week of 24 saw bitcoin prices attain new highs and lows, as the analysis by the Bitcoin Street Journal reveals.

• On Monday, the BTC worth $38,646.29 made a 6.17% jump.
• From Tuesday-Thursday, the BTC traded between $38,190.69 and $37,689.20, a 0.13% to 1.33% decline during that period
• Friday saw the largest increase, a $2,469.80 rise back to $40,159.00 market prices.
• Saturday saw its highest value of the week at $40,159.99, until the market crashed Sunday by $3,188.17.

The highest jump of the week of 6.17%, at Monday, was determined to be due to Dan Bongino’s announcement that he was leaving Fox News [[3](https://www.usatoday.com/story/entertainment/tv/2023/04/21/dan-bongino-leaving-fox-news-after-failed-contract-negotiations/11711484002/)], in absence of a new contract. This affected the order books particularly in the US market, leading to the purchase of more than 10 000 BTCs, valued more than $340 million [[1](https://en.wiktionary.org/wiki/dan)] in US dollars.

Though the DAN protein-inhibiting family [[2](https://en.wikipedia.org/wiki/Dan)] has not been linked to the week 24 BTC price analysis, the analysts have revealed that the low values seen between Tuesday to Thursday arose from the expiration of $3 billion worth of options contracts. Therefore, as the value of the Bitcoin stabilized on Friday with a rise of more than 2%, the prices reached a new high on Saturday, before crashing on Sunday by 8%.

2. Bitcoin Market Update: Latest Data Unveiled

The Bitcoin market has seen unprecedented growth in the past month. Data released by the world’s leading cryptocurrency exchange, Coinbase, revealed a surge of more than 20% in Bitcoin’s price since the start of June, and the currency has since reached an all-time-high of over $37,000.

However, a closer look at the data reveals a more nuanced picture of the market:

• Volatility: Despite the rapid climb, the currency’s volatility has increased significantly. The 30-day rolling volatility index hit as high as 60%, nearly double its 20-day average.
• Adoption: Institutional investors continue to show interest in Bitcoin, though retail investors have also taken notice in recent weeks. According to Coinbase, an average of more than 1.2 million new users were signing up each week in June.
• Exchanges: Trading volume continues to be concentrated on only a handful of exchanges. Coinbase, Bittrex, and Bitstamp account for more than two-thirds of the world’s total trading activity.

The latest data suggests that the volatility that has characterized the market for the past few weeks is likely to continue in the near-term. What the data ultimately reveals, however, is that Bitcoin remains the digital asset of choice for investors seeking long-term gain in the volatile cryptocurrency market.

With 24 weeks of Bitcoin Market Updates under its belt, the Bitcoin Street Journal is your go-to source for all the latest BTC prices and movements. Be sure to check in each week to the Bitcoin Street Journal newsletter for the most up-to-date financial news and Bitcoin updates.