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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Traders Await PPI Release, Bitcoin Drops to US$107 Thousand
Bitcoin fell slightly by 1.6% to US$107,758 due to profit-taking after its price surged to US$110,000 recently. The Fear & Greed Index also dropped from 65 to 61 as traders await the release of the producer price index (PPI), which caused the price of Bitcoin to decline a bit today.
As information, a PPI higher than expected may indicate rising inflation, which could potentially lead the Federal Reserve to raise interest rates, negatively impacting Bitcoin prices.
This 24-hour decline is in line with the cooling momentum of exchange-traded funds (ETF). Net inflows into ETFs have slowed to US$164.6 million since June 5, down from a weekly average of US$1 billion.
This follows the 11.7% drop in GameStop's stock after a $1.75 billion convertible bond offering, which triggered risk-averse sentiment across speculative assets.