This report provides an in-depth analysis of Bitcoin's price movements and trading data during the first week of June 2023 (June 05–June 11). The insights aim to help investors and traders navigate the cryptocurrency market more effectively.
Bitcoin (BTC) Trading Data Overview
Key Metrics:
- Average Price: $26,522 (~¥189,101.86), down 3.85% week-over-week (WoW).
- Trading Volume: 71,159 BTC (~$1.84 billion), up 44.13% WoW.
- Closing Price (June 11): $25,925, a 4.34% decline from June 04 ($27,102).
Global Market Snapshot:
- 24-Hour Volume: 521,482 BTC (~$13.52 billion).
- Market Capitalization: $513.9 billion (45.69% dominance).
- Circulating Supply: 19,403,906 BTC.
- Next Halving: 328 days away (block reward: 6.25 BTC).
Bitcoin (BTC) Price Movement Analysis
| Period | Opening Price | Closing Price | High | Low |
|---|---|---|---|---|
| USD | $27,119 | $25,925 | $27,384 | $25,355 |
| CNY | ¥193,358.47 | ¥184,845.25 | ¥195,247.92 | ¥180,781.15 |
Highlights:
- Price Range: Peaked at $27,384 (June 07) and bottomed at $25,355 (June 06), a 6.78% volatility.
- Current Price (June 11): $25,926.20, **62.31% below** its all-time high ($68,789).
- 2023 Performance: Up 71.60% from the year’s lowest price ($15,958).
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Daily Bitcoin Price Breakdown (June 05–11, 2023)
| Date | Closing Price | Opening Price | High | Low |
|---|---|---|---|---|
| Jun 11 | $25,940.17 | $25,928.40 | $26,190 | $25,843 |
| Jun 10 | $25,851.24 | $25,844.00 | $26,525 | $26,479 |
| Jun 09 | $26,480.38 | $26,479.30 | $26,774 | $26,501 |
| Jun 08 | $26,508.22 | $26,501.10 | $26,784 | $26,342 |
| Jun 07 | $26,346 | $26,342.50 | $27,342 | $27,230 |
| Jun 06 | $27,238.78 | $27,230.20 | $27,325 | $25,746 |
| Jun 05 | $25,760.10 | $25,747.40 | $27,126 | $27,122 |
FAQ Section
1. What caused Bitcoin’s price drop in June 2023?
Increased market volatility due to macroeconomic uncertainties and profit-taking after a mid-year rally.
2. How does Bitcoin’s halving affect its price?
Historically, halvings reduce supply inflation, often leading to price rallies post-event (next halving: 2024).
3. Is Bitcoin a good investment in 2023?
While BTC has shown resilience, always conduct personal research and diversify investments to manage risk.
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