BTC shows signs of potential growth as mining becomes less complex.
On Friday, BTC reached 30,710 USD, indicating a weekly increase of 2.35%.
Positive developments in domestic news and a restored correlation with the US stock market are favoring the leading cryptocurrency. However, it is important to note that a solid rally has yet to form as buyers remain cautious.
To establish a confident upward movement in the BTC exchange rate, the cryptocurrency needs to sustain a position above 31,150 USD. Once this level is achieved, the next target for growth would be 33,000 USD.
The total capitalization of the cryptocurrency market is gradually rising and currently stands at 1.190 trillion USD. BTC maintains a market share of 50.2%, while the share of ETH has decreased to 18.9%.
BTC mining complexity eases
Recent calculations indicate a 3.26% decrease in the mining complexity of the leading cryptocurrency. Cumulative miner revenue for May reached 916 million USD, showing consistent growth since November of the previous year.
UK’s King approves cryptocurrency legislation
The King of the UK has given formal approval to a draft bill that empowers regulators to oversee digital assets and stablecoins. This move comes after the legislation was previously agreed upon in the House of Lords.
The post The Cryptocurrency Market Update – Overview for June 30, 2023 appeared first at R Blog – RoboForex.
