The post Bitcoin dips, but key metrics hint at a bullish future appeared on BitcoinEthereumNews.com.

Bitcoin ($BTC) has slipped to a value lower than $66,000 at the time of writing this article; however, key metrics point to an optimistic future for the flagship cryptocurrency. Meaning there is a bull run on the horizon if factors align in favorable conditions. For starters, market liquidity has increased, indicating an uptick in Bitcoin dominance. It signals a potential shift from altcoins to Bitcoin, as investors believe it to be a safer investment. Its share has grown by 0.91% to 54.34%. More capital could potentially enter the ecosystem. There was a notable transition to altcoins, especially meme coins, but the re-entry is now more noteworthy. People view Bitcoin as a safeguard against market fluctuations. The king of cryptocurrencies has been able to maintain stability within a limited range. First, it was between $61,000 and $64,000. Now it is between $67,000 and $70,000, except for the recent drop to $65,570.70. Investors have moved their coins to personal wallets from exchange platforms. This suggests holding on to their tokens rather than selling them, or triggering selling pressure. If anything, the scope of buying the dip could be evident if BTC slips any further. Exchanges last saw the volume of Bitcoin at $1.81 million tokens, a decrease of 0.06%. The futures volume has surged by 149.73% to $141.79 billion. In other words, there is a rising interest in Bitcoin, and the trend is only gaining traction. The current value is a dip of 0.65% in the last 24 hours and 3.225 in the last 7 days. The 24-hour trading volume has jumped massively by 115.05% as the piece is being drafted. The Fear & Greed Index is one important key indicator that favors the upcoming bull run. It has given 71 points to the token despite the prevailing bearish sentiments. The volatility…

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Filed under: News - @ June 18, 2024 11:24 am