- Bitcoin maintained 100% uptime since 2014, reinforcing its 99.99% historical reliability and strengthening market confidence.
- Bitcoin surged to $68,190, with trading volume hitting $16.2B, reflecting increased investor interest.
- Swiss National Bank rejected BTC as a reserve asset, citing volatility and security concerns.
The Bitcoin network has maintained a 100% uptime since 2014, according to analyst André Dragosch, highlighting its reliability. Since its inception, its uptime has stood at 99.99%, reinforcing its strong performance. This milestone underscores Bitcoin’s robust infrastructure, making it an attractive digital asset for investors and institutions.
The announcement coincided with Bitcoin’s price reaching $67,500, a 2.3% increase from the previous day’s closing price of $66,000. Trading volume surged to $15.4 billion, reflecting heightened market interest. Additionally, Bitcoin’s dominance index rose to 46.8%, indicating increased investor confidence and renewed discussions on the reliability of cryptocurrencies.
Bitcoin’s Uptime Impact on Market Metrics
Following the announcement, BTC experienced a surge in trading activity, reaching a daily high of $68,280. The 24-hour trading volume across major exchanges climbed to $16.2 billion, a 5% increase from the previous day. This uptick suggests the uptime news acted as a catalyst for increased market participation.
The BTC/USD trading pair saw a volume of $10.5 billion, while BTC/USDT recorded $4.7 billion, emphasizing the market’s preference for stablecoin pairings. On-chain data revealed a 3.5% rise in active Bitcoin addresses to 1.2 million, alongside a 2.8% increase in average transaction value to 0.75 BTC. These indicators reflect strong investor confidence and network engagement.
Swiss National Bank Rejects BTC as a Reserve Asset
Despite Bitcoin’s increasing reliability, Swiss National Bank (SNB) President Martin Schlegel remains skeptical about adopting it as a reserve asset. He cited concerns over volatility, liquidity, and security risks. Schlegel stated that SNB’s reserves must remain highly liquid and stable, which BTC’s price fluctuations do not support.
Schlegel also highlighted that Bitcoin, being software-based, is prone to potential bugs and technical vulnerabilities. He emphasized that while the crypto market secures nearly $3 trillion in value, it remains a niche phenomenon in the broader financial system. He dismissed concerns about BTC threatening the Swiss franc’s dominance, stating that SNB is not worried about cryptocurrency competition.
A proposal by Swiss Bitcoin nonprofit 2B4CH aims to mandate SNB to hold BTC, requiring 100,000 signatures to proceed to a referendum. With a deadline of June 30, 2026, approximately 1.11% of Switzerland’s 8.97 million population must support the initiative. Meanwhile, countries like the U.S., Czech Republic, and Hong Kong are considering BTC reserves, while El Salvador continues accumulating BTC.
Technical indicators further support BTC’s bullish outlook. The Relative Strength Index (RSI) stood at 68, suggesting strong demand. A bullish MACD crossover signaled further upside potential, while the 50-day and 200-day moving averages, at $65,000 and $60,000 respectively, were surpassed. These factors, along with increased volatility, indicate sustained market momentum.
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