**Bitcoin's** price is facing a crucial test as it clings to a **support zone** where nearly **2 million** addresses hold **964,000 BTC**. A price drop to **$67,000** is possible if this support breaks, fueling fears of a **further decline**. Market sentiment has turned **bearish** with over **$56** million in long positions liquidated in the past 24 hours. However, **Spot Bitcoin ETFs** have seen **continuous inflows** of over **$135** million, providing support to the price and indicating institutional interest. Despite a recent price increase, concerns remain over the potential for a **dip** if the support zone fails.

The Bitcoin (BTC) price has been navigating a critical juncture as it is stuck within a strong support zone. Moreover, nearly 2 million Bitcoin addresses have acquired their BTC reserve within this range. Their investment is nearing breakeven owing to the latest price decline with the BTC value dropping to $69,000 level. BTC Price To <a class="mh-excerpt-more" href="https://coingape.com/bitcoin-holders-with-964k-btc-will-btc-price-dip-to-67k/" title="Bitcoin Holders With 964K BTC, Will BTC Price Dip To $67K?"></a>
The post <a href="https://coingape.com/bitcoin-holders-with-964k-btc-will-btc-price-dip-to-67k/">Bitcoin Holders With 964K BTC, Will BTC Price Dip To $67K?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

<img fetchpriority="high" decoding="async" width="1200" height="800" src="https://coingape.com/wp-content/uploads/2024/05/Bitcoin-Danger-Zone.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin Holders With 964K BTC, Will BTC Price Dip To $67K?" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/05/Bitcoin-Danger-Zone.jpg 1200w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-Danger-Zone-300x200.jpg 300w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-Danger-Zone-768x512.jpg 768w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-Danger-Zone-150x100.jpg 150w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-Danger-Zone-272x182.jpg 272w" sizes="(max-width: 1200px) 100vw, 1200px" />The Bitcoin (BTC) price has been navigating a critical juncture as it is stuck within a strong support zone. Moreover, nearly 2 million Bitcoin addresses have acquired their BTC reserve within this range. Their investment is nearing breakeven owing to the latest price decline with the BTC value dropping to $69,000 level.
<h2>BTC Price To Dip Further?</h2>
The BTC price currently lies in the strong support range of $69,380 and $67,350. Crypto analyst Ali Martinez highlighted the significance of this range, where approximately 1.97 million addresses acquired 964,000 BTC. The stability of Bitcoin&#8217;s price within this zone is crucial to sustaining its upward momentum.
However, recent market movements have put this support to the test. In the wake of a substantial market selloff, Bitcoin&#8217;s value extended to the $69,300 level, falling from a price of over $71,500. This slump came after the US jobs data chimed in.
The employment data could impact the Federal Reserve’s decision on rate cuts, which spread pessimism through the crypto community. Hence, the critical concern now is whether Bitcoin can maintain its footing above $67,000, a threshold that if breached, could signal further declines.
The recent market dynamics have not been favorable for long positions. Within the last 24 hours, the cryptocurrency market witnessed total liquidations amounting to $65.95 million, according to Coinglass. Furthermore, a significant portion of this, approximately $56.86 million, was attributed to long positions.
This overwhelming liquidation of long positions signals potential bearish sentiment among traders, further exacerbating concerns about Bitcoin&#8217;s price stability. The potential for a further dip below $67,000 looms large, particularly if the addresses holding 964,000 BTC lose breakeven point and decide to offload their holdings.
Such a move could trigger a cascading effect, prompting additional selloffs and pushing BTC price lower. The breakeven point for these holders is crucial; any movement below this level could erode their confidence and lead to increased selling pressure.
<h2>ETF Inflows To The Rescue</h2>
Despite the bearish indicators, there are positive developments that could bolster Bitcoin&#8217;s resilience. The Spot Bitcoin ETFs have continued to attract substantial inflows, providing a counterbalance to the selling pressure. On Friday, June 7, these ETFs saw an influx of $135 million, marking the longest inflow streak of 19 days.
This continuous demand through global Bitcoin ETFs, including those in Hong Kong and Australia, could play a pivotal role in stabilizing Bitcoin&#8217;s price. Moreover, the global ETPs hold over 1 million BTC, catalyzing a potential supply shock. Furthermore, the ongoing inflows into Bitcoin ETFs suggest sustained interest and confidence among institutional investors.
This demand could provide a much-needed buffer against the market&#8217;s downward pressure. At press time, the BTC price was up by 3.52% to $69,375.98 on Saturday, June 8 with a market capitalization of $1.36 trillion. On the contrary, the 24-hour trading volume jumped 12.57% to $31.39 billion.
The post <a href="https://coingape.com/bitcoin-holders-with-964k-btc-will-btc-price-dip-to-67k/">Bitcoin Holders With 964K BTC, Will BTC Price Dip To $67K?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin Faces Critical Support Test: Will it Dip Below $67K?

## Local Police Take Action Against Bitcoin Scams

OSHKOSH, WI—In a proactive approach to crime prevention, law enforcement agencies throughout **Winnebago County** are implementing measures to help prevent cryptocurrency scams. They are placing **warning signs** next to Bitcoin ATMs to alert users of common scams that have been reported.

**Kate Mann**, Public Affairs and Crime Prevention Officer with the Oshkosh Police Department, revealed that in the past four years, residents have lost nearly **half a million dollars** to Bitcoin and cryptocurrency scams. 

> “Since 2021, we’ve had **over 35 scams** specifically involving Bitcoin ATMs, resulting in over **$485,000** in losses,” Mann stated.

![Posters like this one are being hung at businesses with Bitcoin ATMs in an effort to stop scams. Photo: Oshkosh Police Department](https://civicmedia.us/wp-content/uploads/2025/04/image001-1.png)  

The signs are designed to encourage users to **pause and think** before making transactions. Mann emphasized the importance of this initiative:

> “We wanted to look for a new, innovative way to get the information out to citizens. We’ve tried various methods, and this is just another opportunity to inform the public.”

The posters feature messages like **“Stop! This could be a scam!”** and include questions meant to provoke thought about the legitimacy of the transaction. 

## Understanding the Scams

Mann explained that scams involving Bitcoin take on various forms, often manipulating emotions to create a sense of urgency. 

> “Sometimes they claim emergencies, like a grandchild in trouble needing immediate payment, or they might say you missed jury duty and need to pay a fine,” she noted. 

Scammers frequently use tactics that instill fear or urgency, urging victims to act quickly without verifying the situation. Mann advises residents:

> “Always remember, just because it’s this person’s emergency doesn’t mean it’s yours. Slow down and verify what’s happening.”

The best strategy when faced with a suspicious call is to **hang up** and contact the relevant agency directly using known phone numbers. Mann urges:

> “Before you put money into Bitcoin ATMs or buy gift cards, **stop and verify** the story. Once the money is gone, it’s very hard to recover.”

If you suspect you’ve been targeted by a Bitcoin or cryptocurrency scam, it’s crucial to reach out to your local police department for assistance.

Law enforcement agencies throughout Winnebago County are working with local businesses with Bitcoin ATMS to help stop scams.

Local Police Combat Bitcoin Scams with Proactive Measures

Arizona has taken a **bold step toward public Bitcoin adoption** as lawmakers have passed two significant bills enabling the state to invest directly in digital assets. This groundbreaking legislation allows the state to allocate up to **10% of public funds** into Bitcoin and other cryptocurrencies, establishing Arizona as a potential leader in the integration of digital assets within public finance.

### Arizona's Landmark Legislation
Arizona's House of Representatives approved **Senate Bill 1025** and **Senate Bill 1373**, paving the way for a **Digital Assets Strategic Reserve Fund**. This fund will utilize seized crypto assets and future appropriations, emphasizing **high-liquidity and high-security investments**.

![Arizona state approves SB 1025 crypto reserve bill, April 28 | Azleg.gov](https://editorial.fxsstatic.com/miscelaneous/Screenshot%202025-04-29%20at%2012-1745883638056.40.31%20AM.png)

With the bills now awaiting the signature of **Governor Katie Hobbs**, Arizona could become the first U.S. state to officially hold Bitcoin in its treasury. This initiative mirrors similar legislative movements in states like Texas, Florida, and New Hampshire, which are also exploring Bitcoin-backed reserve strategies to attract innovation and diversify public asset portfolios.

### What’s Next? Governor Hobbs' Decision
The market is currently watching for **Governor Hobbs’ confirmation** on these bills, which could set a national precedent for Bitcoin's role in public finance. Following the vote, Bitcoin was trading near **$95,000**, showing a significant recovery from earlier lows.

![Corporate Bitcoin Holders as of April 2025](https://editorial.fxsstatic.com/miscelaneous/ok09k9k29ncd1-1745883742855.png)

As institutional appetite for Bitcoin grows, Arizona's move to validate Bitcoin as a sovereign reserve asset could further bolster market momentum. Governor Hobbs recently eased a veto threat linked to other funding disputes, but her stance on the Bitcoin bills remains unclear.

### Investment Potential
Arizona oversees more than **$31.4 billion** in public assets. If the proposed **10% allocation** is enacted, it could allow for up to **$3.14 billion** to be invested in digital assets, including Bitcoin and NFTs. This allocation would position Arizona as the second-largest institutional Bitcoin holder among U.S. public entities, surpassing major corporate holders.

The legislation mandates that all investments comply with standard fiduciary risk management protocols to protect public funds from volatility and custodial risks. Should Arizona proceed with a **$3.14 billion Bitcoin reserve**, it could acquire approximately **31,000 BTC**, setting a precedent for other states and sovereign governments seeking modern methods to bolster their public reserves.

The state of Arizona took a major step toward public Bitcoin adoption in the US as lawmakers passed two bills enabling direct investment of public funds in digital assets.

Arizona Makes History: First U.S. State to Establish Bitcoin Reserve Fund

## In brief
- **Investors poured $3.4 billion** into digital asset investment products last week, according to **CoinShares research**.
- A week prior, year-to-date inflows were just **$171 million** after a prolonged period of outflows.
- **Bitcoin** represented a staggering **93%** of last week’s inflows.

Investors have shown renewed enthusiasm, injecting **$3.4 billion** into digital asset investment products last week, seizing opportunities in **spot Bitcoin** exchange-traded funds (ETFs) as market tensions eased. This significant influx, highlighted in a report by **CoinShares**, marks one of the **best weeks** in the history of crypto funds, which also include popular altcoins like **Ethereum**, **Solana**, and **XRP**. Just a week earlier, inflows year-to-date had languished at a mere **$171 million**.

CoinShares Head of Research, **James Butterfill**, expressed cautious optimism, stating, “We’re now at **$3.5 billion**, recovering from close to zero at one point.” This resurgence is particularly notable as Bitcoin surpassed **$95,000** for the first time since the **U.S. President Donald Trump** introduced tariffs, with **93%** of last week's inflows attributed to Bitcoin, while **Ethereum** and **XRP** garnered **$183 million** and **$31 million**, respectively.

Despite this rebound, Butterfill cautioned that the total year-to-date inflows peaked at **$7.4 billion** earlier this year, indicating that further robust inflows are necessary to restore adoption trends. He noted an increase in institutional participation through **basis trading**, which capitalizes on price differentials between spot and futures markets. However, this growth has been modest, with institutions seemingly taking a back seat as individual investors lead the charge.

As Bitcoin trades well above its levels from early April—prior to Trump’s tariff threats—Butterfill suggested that the focus has shifted to individual investors making allocations. Last year, crypto funds attracted a remarkable **$29 billion**, largely driven by the approval of **spot Bitcoin ETFs** in the U.S. However, with ongoing uncertainties stemming from tariffs, it remains to be seen whether last year's momentum can continue.

Investors will gain clearer insights into Wall Street's positioning when institutional investment managers disclose their activities in the upcoming **13F filings** in mid-May, shedding light on their recent investment strategies and holdings.

*Edited by James Rubin*

Institutional investors appeared to take a back seat to individuals, CoinShares’ Head of Research said.

Massive $3.4 Billion Inflows into Bitcoin and Ethereum ETFs Spark Optimism

### In Brief

- **El Salvador** added **32 Bitcoins** last month, totaling **6,161.18 BTC** valued at **$584 million**.
- The nation remains compliant with **IMF** restrictions by purchasing outside the fiscal sector.
- The **IMF** is conducting its first program review focused on fiscal reforms and economic stability.

El Salvador’s **Bitcoin accumulation** continues under the watchful eye of the **IMF**. Despite President **Nayib Bukele**'s government formally pausing public sector Bitcoin purchases to meet **IMF** loan conditions, the country's **Bitcoin Office** has been surreptitiously expanding its national reserves.

In the past month alone, El Salvador has acquired another **32 BTC**, worth over **$650,000**, maintaining its **“one Bitcoin a day”** policy.

Under a **$1.4 billion loan agreement** signed in December, El Salvador agreed to strict conditions, including rolling back mandatory Bitcoin acceptance laws and limiting public sector involvement in Bitcoin activities like the **Chivo wallet** program.

According to **Rodrigo Valdes**, Director of the **IMF Western Hemisphere Department**, El Salvador is complying with its commitment by not accumulating Bitcoin through the fiscal sector. The **Bitcoin Office** operates in a space outside these defined fiscal boundaries, allowing daily purchases without breaching loan agreements.

> “El Salvador keeps stacking. Even on Sundays. We will keep adding one more bitcoin to our Strategic Bitcoin Reserve every day. Just watch ...” - The Bitcoin Office

Valdes emphasized, “The program of El Salvador is not about Bitcoin. It's much deeper in structural reforms, governance, and transparency,” highlighting progress in fiscal management.

### El Salvador’s Bitcoin Strategy

President **Bukele** remains firmly committed to the Bitcoin strategy that has characterized his administration. In March, he publicly dismissed suggestions that the Bitcoin plan would cease due to **IMF** pressure, stating, “This all stops in April.”

Despite **IMF** restrictions, the **Bitcoin Office** announced further purchases, indicating that the policy is still very much alive. To satisfy **IMF** conditions, El Salvador's Legislative Assembly modified its **Bitcoin Law**, removing Bitcoin's mandatory legal tender status for private transactions while keeping it as an optional currency. These reforms, effective May 1, also eliminate Bitcoin as a means for tax payments, a concession to international lenders.

In addition to the **$1.4 billion IMF package**, further agreements are expected to unlock an additional **$2 billion** in development bank financing, aimed at supporting fiscal consolidation and boosting investor confidence as El Salvador works to manage its debt, which reached **85% of GDP** last year.

The **IMF** is preparing its first program review to evaluate El Salvador’s compliance and determine if its Bitcoin activities threaten broader financial stability reforms. Valdes mentioned the program's goal is to foster conditions for stronger private investment and growth, backed by improved macroeconomic factors.

With its current Bitcoin holdings, El Salvador ranks as the **sixth-largest sovereign Bitcoin holder** globally, following the **United States**, **China**, **United Kingdom**, **Ukraine**, and **Bhutan**.

El Salvador’s Bitcoin stash grows to 6,161 BTC, as the IMF begins its first program review tied to economic and fiscal reforms.

El Salvador's Bold Bitcoin Strategy: How It Continues to Buy Despite IMF Pressure

### Bitcoin's April Rally Eyes a 13% Gain

Bitcoin traded flat around **$94,000** early Monday, steady after a significant rebound in April that’s poised to secure a **13% monthly gain**. It’s been a welcome turnaround for the OG cryptocurrency after a rough first quarter, when the orange token’s prices tumbled **25%** from peak to trough, rattling bullish sentiment across the board.

The strong April showing marks Bitcoin’s **best monthly performance** since the year began, putting the second quarter on much sturdier footing. A combination of factors has helped the rally stick: a broad return of **risk appetite**, a softer **US dollar**, cooling fears over aggressive tariffs, and the renewed narrative that crypto might benefit from favorable political and economic conditions.

### Bitcoin Fights Through the Noise

The road hasn’t been completely smooth. The flagship digital asset has navigated plenty of **headline noise** this month—tariff spats, Fed drama, and shifting rate-cut expectations—but managed to hold its ground thanks to consistent demand from both **institutional players** and **retail traders** betting that Bitcoin remains a prime hedge in a messy macro world.

What’s the technical outlook? The **$94,000** mark is shaping up as a new battleground. A clean move through **$95,000** could open the door toward retesting the **$98,000-$100,000** range—a key psychological and technical target that bulls have been eyeing since late February.

### Ether Stumbles

Other major tokens don’t share the same success. In April, **Ethereum** was hit hard, dropping to a two-year low of **$1,383** before paring back some losses. The second-largest crypto is looking into a losing month, down about **1%** with its price pinned near **$1,790**. If Ether closes out another month in the red, it would mark its **fifth consecutive monthly drop**, wiping out a massive **56%** of its price over that time span.

It’s been a winning month for the flagship token and a promising start of the second quarter after a dismal first three months when its price tumbled by 25% from top to close.  🔥 Bitcoin’s April Rally Eyes a 13% Gain🌪️ Bitcoin Fights Through the Noise🪙 Ether Stumbles

Bitcoin Faces Critical Support Test: Will it Dip Below $67K?

Summary:

Bitcoin price is hovering near a key support zone of $69,380 and $67,350.

Nearly 2 million Bitcoin addresses hold 964,000 BTC within this range, with their investment nearing breakeven.

A price dip below $67,000 could trigger further declines if these holders sell their holdings.

Recent market movements have seen heavy liquidation of long positions totaling over $56 million.

Spot Bitcoin ETFs have experienced continuous inflows, providing some support to the price.

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