Share this article
Bitcoin Price Spikes to $650 as Outlook Shifts for ‘Brexit’
The price of bitcoin is rising at press time, passing the $650 mark just a day after dropping to a weekly low of $550.
By Pete Rizzo
Updated Sep 11, 2021, 12:20 p.m. Published Jun 24, 2016, 3:12 a.m.
The price of bitcoin is rising at press time, passing the $650 mark just a day after dropping to a weekly low of $550.
Though there were suggestions the volatility could be tied to any number of recent indicators, at press time, ongoing macroeconomic concerns in Europe seem to be the most influential factor, as the price of bitcoin began to rise amid reports that the UK appears increasingly likely to leave the European Union.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The UK’s ongoing EU membership referendum, in which voters were asked whether the country should stay (‘Bremain’) or leave (‘Brexit’) the European Union, has coincided with the increase in the price of bitcoin from a low of $560 just hours prior to a press time high of $655.63.
With 54.5% of the vote tallied at press time, data from the UK Telegraph indicated 51.4% of voters had voiced their support for a ‘Brexit’, with just 48.6% siding for ‘Bremain’.
This shifting sentiment that was also increasingly broadcast by bitcoin evangelists on Twitter, along with suggestions the price increase was tied to the latest news.
Shocking: with over half of votes counted: 51.5% #Brexit ; 48,5% IN. As a result #bitcoin major rally UP
— George Kikvadze (@BitfuryGeorge) June 24, 2016
Elsewhere, market observers used the event to highlight how bitcoin is increasingly prone to unique market movements in times where macroeconomic concerns lead to volatility in traditional markets.
As if things weren't already interesting, #bitcoin #ether & other crypto could be in for quite the #Brexit bash https://t.co/zcivqCf9tG
— Chris Burniske (@ARKblockchain) June 24, 2016
Overall, the increase comes amid a particularly volatile month for the price of bitcoin, which has been on the decline from two-year highs observed just a week ago.
Brexit visualization via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ether, Dogecoin, Solana Slide as Bitcoin Fails to Sustain Early-Week Breakout
The pullback followed Tuesday's brief spike above $94,500, a move that triggered a minor short squeeze but failed to break the resistance that has capped bitcoin for most of the past three weeks.
What to know:
- Bitcoin fell toward $90,000 as crypto markets lost ground despite a Federal Reserve rate cut.
- Over $514 million in leveraged positions were liquidated, with major tokens like Ether and Solana also declining.
- Analysts suggest Bitcoin must surpass $94,000 to signal a significant rebound, amid concerns over macroeconomic conditions and market liquidity.
Top Stories
