
“The learning phase is over. A new era is coming,” says CryptoQuant CEO Ki Young Ju.
Google search interest for the term “onchain” surged to an all-time high in May, according to Google Trends data.
Over the past five years, worldwide search interest in the term hovered mostly under 25 out of 100, with a brief spike to around 30 in March.
However, between May 26 and June 1, search interest in “onchain” reached 100 on the index.
For the first time in history, the price of one Bitcoin exceeded 11 million yen in Japan, while prices also peaked in terms of the Argentinean and the Philippines peso.
Bitcoin (BTC) notched all-time highs in several countries across Asia and South America following a 7% surge on the day — pushing the cryptocurrency ever closer to its United States dollar peak.
Bitcoin prices hit an intraday and six-week high of $71,650 on May 21 following a gain of more than 7% over the past 24 hours.
The asset has returned to within 3.4% of its March 14 all-time high in USD terms of $73,738, according to CoinGecko.
While the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow mark of $59,000.
Bitcoin’s price is down around 21% from its all-time high. But while this remains in line with previous bull market corrections, Bitcoin could still fall to the $50,000 mark in the near term, based on historic patterns.
Bitcoin (BTC) price fell over 12% on the weekly chart to $57,780 as of 1:10 p.m. in UTC, which is 21.6% lower thatn its all-time high of $73,750, reached on March 14, according to CoinMarketCap data.
The current correction is the deepest retrace of this cycle, according to popular Bitcoin analyst Rekt Capital, who wrote in a May 1 X post:
After several test runs, Bitcoin (BTC) has officially smashed through its all-time high and is now threatening to leave previous prices in the dust. As a new week begins, the crypto king jumped to as high as $72,211 before dipping to $71,996 at time of publishing. The move has fundamental and technical analysts gauging what’s next. […]
The post Bitcoin Price Smashes Through All-Time High, Surpassing $72,200 – Here’s What’s Next According to PlanB and Willy Woo appeared first on The Daily Hodl.