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@kami_khan7470
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$BTC So, the decision has been made, and many are disappointed by the price movement, but there are reasons for that. If we compare it to the decision on BTC, you might remember that after the decision, trading on exchanges was allowed within a few days. But this situation is a bit different. The SEC approved the 19b-4 forms for Ethereum ETFs, which include offerings from BlackRock, Fidelity, and Grayscale. However, for these products to start trading, their S-1 registration statements need to go effective. So, they'll be available on exchanges in a few weeks, possibly July-August. Therefore, those who bought in anticipation of the event have already purchased, and the demand for ETFs will come in a few months. This could lead to corrections during this time due to pessimism about rates etc., and it might actually be better to endure this before trading starts. After that, there's a good chance we'll see an altseason.
$BTC Bitcoin is poised to enter price discovery if it can surpass the critical resistance level of its previous all-time high of $69,000, according to crypto analysts.
Bitcoin (BTC), currently trading at $68,458, reached its peak of approximately $69,000 during the 2021 bull run. This level was tested again on March 5, following the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States earlier this year.
Despite multiple attempts to break through, Bitcoin has remained below this threshold for about 10 weeks.
Bitcoin (BTC), currently trading at $68,458, reached its peak of approximately $69,000 during the 2021 bull run. This level was tested again on March 5, following the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States earlier this year.
Despite multiple attempts to break through, Bitcoin has remained below this threshold for about 10 weeks.
$ETH Although ETH futures longs (buyers) and shorts (sellers) are always matched, a higher notional value increases the risk of liquidations exponentially. For instance, if longs are utilizing 10x leverage, those contracts will typically be forcefully liquidated if Ether’s price declines by 10%.
A similar scenario can occur if Ether’s price surges by 10% and shorts are excessively leveraged. In such cases, exchanges will automatically buy ETH futures to mitigate their risk and close positions that lack sufficient margin deposits. As a result, the $16.8 billion open interest in Ether’s futures market poses a risk for potential buyers, thereby keeping the ETH price below $3,900.
A similar scenario can occur if Ether’s price surges by 10% and shorts are excessively leveraged. In such cases, exchanges will automatically buy ETH futures to mitigate their risk and close positions that lack sufficient margin deposits. As a result, the $16.8 billion open interest in Ether’s futures market poses a risk for potential buyers, thereby keeping the ETH price below $3,900.
Ether#
$ETH has ventured above $3,900 on multiple occasions in the past seven days but has been unable to sustain this level. The market seemingly anticipated a boost from the spot Ethereum exchange-traded fund (ETF) approval by the United States Securities and Exchange Commission (SEC), as Ether’s gains occurred on May 21, two days before the decision.
Ethereum spot ETF approval:
One could argue that the spot ETF traders are still awaiting the respective Form S-1 approval for each of the funds. Senior Bloomberg ETF analyst Eric Balchunas expects the Ethereum spot instruments to start trading by July 4, while his colleague James Seyffart noted that BlackRock’s updated S-1 on May 29 shows “issuers and SEC are working towards spot Ethereum ETF launches.”
$ETH has ventured above $3,900 on multiple occasions in the past seven days but has been unable to sustain this level. The market seemingly anticipated a boost from the spot Ethereum exchange-traded fund (ETF) approval by the United States Securities and Exchange Commission (SEC), as Ether’s gains occurred on May 21, two days before the decision.
Ethereum spot ETF approval:
One could argue that the spot ETF traders are still awaiting the respective Form S-1 approval for each of the funds. Senior Bloomberg ETF analyst Eric Balchunas expects the Ethereum spot instruments to start trading by July 4, while his colleague James Seyffart noted that BlackRock’s updated S-1 on May 29 shows “issuers and SEC are working towards spot Ethereum ETF launches.”
#BTC BITCOIN UPDATE $BTC
On the lower side, a break below $61,500 could lead the price towards $60,185, with further declines potentially reaching $58,800 and $56,640.
Conversely, if Bitcoin breaks above $63,000, it could target resistance levels at $65,500 and $67,250. The outlook remains cautiously bullish above $61,765, but a break below this level could trigger significant selling pressure.
On the lower side, a break below $61,500 could lead the price towards $60,185, with further declines potentially reaching $58,800 and $56,640.
Conversely, if Bitcoin breaks above $63,000, it could target resistance levels at $65,500 and $67,250. The outlook remains cautiously bullish above $61,765, but a break below this level could trigger significant selling pressure.
#Binance is Listing #NoT coin
You can Farm and harvest notcoin by staking BNB or FDUSD in the Launchpool page !
#BinanceLaunchpool #NotcoinLaunchpool
You can Farm and harvest notcoin by staking BNB or FDUSD in the Launchpool page !
#BinanceLaunchpool #NotcoinLaunchpool
