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Rk Crypto Solution
16 Nov 2024
Bullish
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CFTC Approval Brings
Bitcoin
Spot ETF Options Closer to Launch, Bitcoin Eye $100K
#btc70k
#ETHETFsApproved
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Bitcoin has reclaimed the $97,000 mark with a 24-hour trading volume of $100.528 billion. Notably, the largest cryptocurrency by market cap has displayed a neutral price action over the last week, highlighting a cool-off phase for it. The Simple Moving Average (SMA) shows a bearish convergence in the daily time frame. This displays an increase in the selling-over-buying pressure for the Bitcoin token in the market. The Moving Average Convergence Divergence (MACD) records a constant red histogram, with its averages showing a steady decline in the BTC price chart. This suggests a negative outlook for the largest token by market capitalization. If the BTC token regains momentum, it may reclaim its $98,000 mark. If the bulls gain traction, this could push the price of Bitcoin toward the $100,000 mark. However, a bearish action could pull the price toward $95,000. Furthermore, if the bears dominate the crypto space, the price of Bitcoin could plunge toward its low of $92,000 today. #BTC #2024withBinance #ETH $BTC $ME $XRP
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