In price action, the week began with Bitcoin closing the trading month of May at $9,446, just $39 shy of its intra-monthly high of $9,485. With traders aggressively buying, BTC’s price on BitMEX trampolined to $10,437 on June 1. BTC’s bull run was short-lived, but shows signs of gaining steam again.
CipherTrace says 12.1% of Bitcoin funds sent to Finnish exchanges come directly from criminal sources. As a percentage, that’s the highest worldwide, making Finland a hotspot for illegal Bitcoin. LocalBitcoins, a peer-to-peer crypto marketplace, is partly to blame. It is based in the Finnish capital of Helsinki, and received 99% of these ill-gotten funds, according to a report.
A new benchmark index is trying to cut through market manipulation and inaccurate data to offer a “robust” insight into Bitcoin’s actual price. The Bitcoin Benchmark Rate is the brainchild of MV Index Solutions, which develops a range of indices for investors, along with the digital asset data platform CryptoCompare.
With BTC violently spiking downwards roughly 8% in a matter of minutes, it was an interesting day to trade to say the least. Price dropped from about $10,100 to $9,400 in a matter of five minutes. Are the bears coming for Bitcoin?