Tether transferred more than $ 3.9 billion to Bitcoin to Twenty One Capital, the new platform supported by SoftBank and Bitfinex. This platform aims to revolutionize the financial markets by setting up Bitcoin -based services. After a successful month of May, does the market head for a month of June down? Whatever happens, for the moment, the institutional actors continue to support cryptocurrencies, and especially Ethereum (ETH). We take stock of the bulletin of June 4!
The Bitcoin course stagnates over the last 24 hours
The King of Cryptos Stagne at the $ 105,000and he Fall of 3.3 % in one week. Also, the price of Bitcoin climbs about 12 % in a monthnear 15 % in three months and 8 % in six months ::
| Pair | 1h | 24h | 7d | 1m | 3m | 6m |
|---|---|---|---|---|---|---|
 BTC/ETH |
0.37% | -0.69% | -2.63% | -23.54% | -0.12% | 60.03% |
 BTC/USDT |
-0.16% | -0.11% | -3.30% | 11.79% | 14.69% | 7.77% |
Bitcoin performance in the face of different pairs. Source : Coincheckup
THE BTC loses ground against Ethereum (ETH). Indeed, the BTC/ETH ratio is in the negative for a month. He Fall of 2.6 % in one weekand 23.5 % in a month. And the trend could continue, because institutional actors bet on the second capitalization Cryptos.
Institutional actors abandon Bitcoin and turn to Ethereum
Bitcoin’s course cannot take off beyond the $ 110,000but the Institutional actors continue to send their capital to investment products linked to cryptos. With $ 300 million additional injected last week, Crypto investment vehicles sign a Seventh consecutive week of incoming flows ::
Contrary to what has been observed for several months, operators have Strongly bet on Ethereumand they have Abanded Bitcoin. In fact, the weekly Coinshares report indicates outgoing flows of $ 8 million for Bitcoinand entries of more than $ 300 million for Ethereum. Entries have also been recorded on Solana (ground) and sui (sui), which suggests that the Altcoins are starting to interest investors.
Towards a return to $ 112,000 for the BTC?
The days follow one another and look alike for Bitcoin which continues to block around the Resistance at $ 106,000. The course will have to go back beyond this level in 4 hours to Hope for a new increase ::
If the BTC manages to Break $ 106,000he could record a new ATH beyond $ 112,000. On the other hand, if the BTC blocks here and falls, it could return to the height of $ 102,000. The RSI recently validated a divergence. The momentum has been bounced for a few days, but it remains fragile.
The Bitcoin price will have to break $ 106,000 to avoid a fall in the $ 102,000. While Bitcoin recorded an ATH a few days ago, institutional actors invest in Ethereum and certain altcoins. Will this request allow Ethereum to find the $ 3,000?