Bitcoin (BTC) retail on-chain accounts are showing a growing interest in buying the cryptocurrency at current prices. This metric has surged over the last few weeks, already increasing by 7%, which analysts interpret as a positive signal.

Bitcoin price experienced a slight drop on Wednesday, continuing its recent weakness due to concerns about the global economy’s health.

At 05:30 ET (09:30 GMT), Bitcoin was down 0.5%, trading at $65,217.0. This represents a loss of about 4% over the past trading week, having dipped below $65,000 on Tuesday for the first time since May 16.

Bitcoin: The recent drop of Bitcoin below $65,000 caught everyone off guard, with the reasons behind it being quite murky. Pinpointing the exact cause is complex, but we may have found some answers.

Bitcoin and Ethereum are currently undergoing a local correction. The liquidation of long positions is weighing on the bullish sentiment. However, long-term bullish catalysts remain intact.

Financial educator and renowned author of the popular book on finance management “Rich Dad Poor Dad,” Robert Kiyosaki, has published a tweet about Bitcoin, in which he made a bullish price prediction and revealed a major nuance about BTC.

FOMC state of the market reveals the current struggle of Bitcoin miners, who are massively capitulating and closing their positions. Such a tendency could become shock therapy for the market, highlighting underlying issues that are affecting Bitcoin’s recovery.

Michael Saylor, MicroStrategy chairman and a Bitcoin advocate, has made a bold declaration that Bitcoin is the “Godzilla” poised to revolutionize and potentially dismantle the existing fiat financial models. This is the latest in his rounds of support for the world’s largest crypto asset.

The Biden Administration will reportedly attend a historic Bitcoin roundtable with congressional officials. The move comes amid former President Donald Trump’s endorsement of BTC. Trump pledged to end Biden’s war on crypto and ensure the future of Bitcoin.

BTC – One of the most experienced traders among cryptocurrency enthusiasts, Peter Brandt, has shared an interesting video on his personal X account. This video is a highlight from the recent BTC Prague event, where Jack Mallers, CEO of Strike, discussed the significance of understanding the proof-of-work concept and the decentralized P2P network envisioned by Satoshi Nakamoto.

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