Bitcoin touched USD $70,000 but failed to stay at the mark this June 3 – DiarioBitcoin

Although the digital currency managed to exceed USD $70,000, unfortunately it failed to maintain itself and fell to USD $69,200 amid some volatility. Main altcoins capitalize on slight gains during the day.

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• Bitcoin momentarily exceeded USD $70,000 per unit
• However, it fell slightly and is around USD $69,200
• The fluctuations coincide with expectations due to the possible reduction in rates of the ECB
• The measure could generate pressure on the FED If this scenario occurs
• Main altcoins register slight gains, but stands out KAS with an increase of 18%
  

Bitcoin touched USD $70,000 this June 3

We open our price report for this June 3 reviewing the evolution seen in the price of Bitcoin (BTC), digital currency that today momentarily surpassed the barrier of USD $70,000 per unit, although minutes later it fell slightly to stand at USD $69,210 at the time of publication, an increase of almost 3% compared to the values ​​seen yesterday .

According to data published in our section CryptoMarketsBitcoin It reached a peak of USD $70,058 shortly after 10:00 am (New York time) after a notable rebound in the previous hours. However, after surpassing the USD $70,000 mark, it fell sharply, then recovered and hovered around USD $69,100 amid some volatility.

Hand in hand with the rebound seen in prices, we have that the volume of commercial operations through the main exchanges also experienced a quite notable rebound. Market data indicates that in the last 24 hours more than USD $31,530 million have been moved, a figure that represents an increase of 103% compared to the values ​​seen last day.

Expectations against European Central Bank

Although the price of Bitcoin responds to a series of variables, the fluctuations seen in prices seem to react to expectations about the measures that the European Central Bank (ECB)since the entity apparently would be contemplating starting to reduce bank interest rates.

According to several reports, expectations regarding rate reductions come to fruition because inflation indices in the eurozone have fallen in recent months, and are already close to the 2% objective established by the ECB. This seems to reflect that the European economy is recovering at a good pace, so starting with the contemplated cuts is on the table.

Although the crypto market generally reacts more strongly to the measures usually taken by the Federal Reserve in North American territory, analysts consider that if the ECB takes the first step in reducing rates, the FED feels pressured to take a similar measure, although the country’s economy has not evolved in the same way as the eurozone.

For now, it remains to be seen what measure the ECB regarding rates, since there will soon be a meeting in which macroeconomic decisions will be made.

Major altcoins post slight gains

Hand in hand with the evolution capitalized by Bitcoin, We also have that a good part of the main altcoins register slight gains for this June 3.

At the time of publication, cases of BNB, DOGE, ADA, BCH, MATIC and PEPEwhich capitalize on gains that exceed 2% in the last 24 hours.

However, among the main winners of the day, the case of KAS, which increased more than 18% compared to yesterday.

Article by Angel Di Matteo / DailyBitcoin

Picture of DiarioBitcoin, under free use license

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