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Bitcoin has surpassed the $70,000 level, the selling pressure is ending. After surpassing $70,000 yesterday, #Bitcoin (BTC) retreated into its familiar trading range and continued its sideways price movement. The largest cryptocurrency by market cap is priced around $69,000 at the time of writing, up 2 percent in the last 24 hours, while Ethereum's native token #Ether (ETH) is hovering just under $3,800. CoinDesk 20 Index gained 1.6% in the last 24 hours. Bitcoin and the overall crypto market have been trading consolidated for more than two months since March, when #BTC reached a record price of over $73,000. "The correction phase seems to be nearing its end," Bitfinex analysts said in their market report published yesterday. said. According to the report, selling by long-term holders was one of the major reasons why Bitcoin fell from all-time highs. However, blockchain data shows that these holders have started accumulating #BTC again for the first time since December 2023. Citing CryptoQuant data, Bitfinex analysts added that the number of new Bitcoin and Ether accumulation addresses increased last month, indicating an upward trend despite price stability. Crypto analysis firm Swissblock stated that the $70,000 and $73,000 levels constitute a significant resistance limiting the BTC price. "Short-term pullbacks are considered buying opportunities, with the $67,000 level proving to be a reliable support," Swissblock said in its report. statements were included. Joshua Lim, co-founder of crypto derivatives trader Arbelos Markets, said in an interview with CoinDesk that next week "could be an interesting week to wait" due to the release of inflation data and the Fed meeting, which could increase volatility in both directions. $BTC $ETH

Bitcoin has surpassed the $70,000 level, the selling pressure is ending.

After surpassing $70,000 yesterday, #Bitcoin (BTC) retreated into its familiar trading range and continued its sideways price movement.

The largest cryptocurrency by market cap is priced around $69,000 at the time of writing, up 2 percent in the last 24 hours, while Ethereum's native token #Ether (ETH) is hovering just under $3,800. CoinDesk 20 Index gained 1.6% in the last 24 hours.

Bitcoin and the overall crypto market have been trading consolidated for more than two months since March, when #BTC reached a record price of over $73,000.

"The correction phase seems to be nearing its end," Bitfinex analysts said in their market report published yesterday. said.

According to the report, selling by long-term holders was one of the major reasons why Bitcoin fell from all-time highs. However, blockchain data shows that these holders have started accumulating #BTC again for the first time since December 2023.

Citing CryptoQuant data, Bitfinex analysts added that the number of new Bitcoin and Ether accumulation addresses increased last month, indicating an upward trend despite price stability.

Crypto analysis firm Swissblock stated that the $70,000 and $73,000 levels constitute a significant resistance limiting the BTC price. "Short-term pullbacks are considered buying opportunities, with the $67,000 level proving to be a reliable support," Swissblock said in its report. statements were included.

Joshua Lim, co-founder of crypto derivatives trader Arbelos Markets, said in an interview with CoinDesk that next week "could be an interesting week to wait" due to the release of inflation data and the Fed meeting, which could increase volatility in both directions.
$BTC $ETH

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MetaMask Launches Pool-Based Staking Service to Democratize Ethereum Participation. Staking plays a vital role in securing the #Ethereum network by ensuring the accuracy and integrity of transaction verifications. Under the Proof of Stake system, validators are rewarded for their efforts but also face penalties for any discrepancies. MetaMask's new pool-based staking service allows users to collectively stake smaller amounts of ETH, breaking traditional barriers and making staking more accessible to everyone in the Ethereum ecosystem. Despite its promising features, MetaMask's staking service is not available to users in the United States and the United Kingdom. This access restriction is largely due to regulatory limitations. In the US, the Securities and Exchange Commission (#SEC ) has imposed strict regulations on crypto staking, resulting in fines and limitations for companies like Kraken and Coinbase. Meanwhile, the UK is still establishing regulations regarding crypto staking and stablecoins, with new guidelines expected soon. MetaMask's entry into the staking space pits it against established platforms such as Lido and Coinbase. Lido, which has a large market share, offers liquid staking options that allow users to use their staked assets in the broader decentralized finance (#DeFi ) space. Despite regulatory hurdles, Coinbase maintains a strong presence in the staking services market. MetaMask's new offering promises more innovation for both users and the Ethereum network. This new staking service from #MetaMask represents a significant advancement despite regulatory limitations in certain key markets. Matthieu Saint Olive from Consensys, the company to which MetaMask is affiliated, emphasizes that the service combines security with flexibility, allowing users to actively participate in staking while managing their ETH. Overall, MetaMask's initiative could be a turning point in terms of Ethereum's stability and user inclusivity. $ETH
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Another company joined the spot Ethereum ETF race in the USA. Asset management company ProShares has become the latest company to file a spot Ethereum ETF issuance with the US Securities and Exchange Commission (SEC). Following ProShares' issuance request, NYSE Arca's application for a rule change to list these products was also accepted by the SEC. In the next period, the regulatory body will initiate the public feedback process, and this process will last 21 days, and the application is expected to be finalized by the end of July. However, even if the SEC accepts the application, described as form 19b-4, ProShares' ETH ETF will await approval for the transaction in the same way as other applications approved in May. On the other hand, in the latest developments regarding Ethereum ETFs, Ark Invest and 21Shares terminated their partnership regarding the #Ethereum ETF and withdrew their application. 21Shares then made its own application. Bloomberg #ETF Analyst James Seyffart welcomed ProShares' ETH ETF application and the SEC's quick action on this application. It was interpreted as a remarkable detail that ProShares, which launched the first forward Bitcoin ETFs, bypassed the spot Bitcoin ETFs and turned to Ethereum. Experts think ProShares' #Ethereum ETF could be approved at the same time as other applications. It is thought that the increase in the number of applications with important companies such as ProShares may be effective in the approval coming sooner than expected. $BTC $ETH
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