When will Bitcoin break the record?
In March this year, the price of Bitcoin hit an all-time high of $73,700.
Polymarket believes that the probability of Bitcoin breaking through $75,000 in July is only 12%.
The Ethereum ETF is just one step away from going online. The Wall Street Journal disclosed that the U.S. Securities and Exchange Commission (SEC) told asset management companies that the spot Ethereum ETF may be launched on July 23. After the asset management company submitted the last round of filings this week, the U.S. Securities and Exchange Commission is expected to announce the effectiveness of the Ethereum ETF registration statement next Monday. Once the statement takes effect, the spot Ethereum ETF can begin trading.
Overall, the German government's selling pressure has ended, Mt.Gox has paid more than half of the compensation, and the compensation funds have begun to be distributed to retail investors. The last major selling pressure is expected to come in late July. Unlike government behavior, retail investors' collective large-scale selling pressure will not continue to appear. Therefore, this article believes that Bitcoin will continue to strengthen in a bullish pattern as a whole. It is worth noting that Bitcoin has become a hot topic in the US election. Trump's clear support will attract a lot of traffic to Bitcoin, thereby pushing up Bitcoin. In addition, the Fed is dovish in the macro sense, and the market expects the Fed to cut interest rates in September, which will also provide a favorable macro environment for Bitcoin.
The rise of Bitcoin is also a positive for Ethereum, but with the passage of the Ethereum ETF, Grayscale's ETHE is expected to see short-term profit-taking selling pressure. In addition, the amount of institutional funds flowing into Ethereum before October is relatively limited, which has a relatively limited impact on the rise of Ethereum. With the end of the US election and the approaching Pectra upgrade, Ethereum's technical strength will attract more and more institutional investors, and its capital inflow will also increase significantly. Ethereum is expected to gradually explode in the fourth quarter.
If you can't find the direction in the currency circle and don't know what currency to buy, you can find me and share more information and strategies related to the currency circle for free.
