🔥🔥🔥 #bitcoin☀️ Stagnates as Analysts Forecast Potential Bottom For Ethereum Before End of Year
The #cryptocurrencymarket remained largely flat on Friday, with Bitcoin trading at $58,108, down 0.4% in 24 hours and 5% over the past month. Ethereum ($ETH ) saw a steeper decline, trading at $2,369, down 0.8% in 24 hours and 15% over the month. Analysts predict Ethereum may bottom out in the next 2-4 months, with oversold conditions approaching based on RSI and Stochastics indicators.
Bitcoin spot ETFs saw $39 million in net inflows, while #EthereumETFs had $20.1 million in outflows. Broader market influences include rallies in tech stocks, positive U.S. inflation data, and favorable economic conditions from China, with potential U.S. rate cuts further boosting market optimism.
Analysts expect sideways price movement for crypto until the U.S. presidential elections, with regulatory clarity likely influencing future market direction.
Source - decrypt.co
