VanEck Head of Digital Assets believes recent evidence suggest a Bitcoin bull run is near.
Matt Sigel of VanEck stated short-term holders' realized losses and Bitcoin volatility are positive for BTC in an interview.
Coins in the top 30 by market capitalization are rebounding from this week's corrections.
Bitcoin (BTC) and Ethereum (ETH), the two biggest assets by market size, held above crucial support levels early Friday.
ETH/USDT trades at $3,438 on June 28, down 2% in a week, according TradingView. In the previous week, Spot Ethereum ETF prices failed to rise despite optimism. Reuter predicts Spot Ethereum ETF clearance by July 4.
Three significant variables might boost Ethereum.
XRP/USDT is at $0.4801, near $0.50 resistance. Ripple President Monica Long's remark early Friday moved the cryptocurrency despite no fresh developments in the US Securities and Exchange Commission (SEC) vs. Ripple litigation.
Crypto token traders earned the most from meme-coins in Q2 2024, while Gaming Finance tokens performed poorest.
The current price of Avalanche (AVAX) is $28.49. The MACD line crosses above the signal line and the green histogram bars above the neutral line, indicating bullishness.
AVAX may reach $31 resistance after an 8.77% surge. The chart shows AVAX might find support at the Fair Value Gap between $26.66 and $27.66.
A US government wallet account transferred 11.84 Bitcoin, worth $726,000, to another address late on Thursday, according to Asian journalist Colin Wu. This is probably a minor test before a big move.
On Tuesday, VanEck Head of Digital Assets Matthew Sigel became positive after seeing capitulation indications such short-term holder losses. The statistic identifies BTC sellers that lose money.
Bitcoin volatility also dropped at this time in the cycle. The CEO forecasts a Bitcoin bull run in his latest interview after metrics became optimistic.#BinanceTournament #MtGoxJulyRepayments #IntroToCopytrading