1. Crypto To Buy – Bitcoin
Institutional investors increasing their holdings by 101.6k BTC is not a small feat, considering the accumulation occurred amid a dwindling uptake of Bitcoin ETFs.
In the first quarter of the year “Bitcoin ETFs were marked by an intense process of institutional accumulation,” CryptoQuant shared in a brief update on the largest digital asset.
A quick turnaround in the Bitcoin ETF market recorded over $147 million in total net inflow on Wednesday, according to SoSoValue. So far the cumulative total net inflow has declined to $15.42 billion, accounting for the selling pressure in the last few months.
Interest in Bitcoin must continue to grow the trend steadily. The uptick to the previous all-time high piggybacked on an intense influx of ETF inflow volume. Positive sentiment will also play a big role in turning the market around. Meanwhile, buying Bitcoin at its current value could mean exponential growth in the next six months, especially for novice investors.
2. JasmyCoin (JASMY)
JasmyCoin declined in value in the last few weeks amid fears of the German government dumping Bitcoin on exchanges. The selling pressure intensified as defunct exchange Mt. Gox started to distribute payments to creditors. This process could take up to 90 days, insinuating extended volatility into the second half of the year.
Based on CoinGecko data, JasmyCoin price declined 16% in a fortnight on top of a 30% drop in the last 30 days to hover at $0.0247 on Thursday. There are vivid signs of a 50% breakout ensuing later this week.
Despite the sluggish recovery portrayed by other cryptocurrencies, JasmyCoin is up almost 5% on the day and nurturing key buy signals. With the general outlook of the market gradually turning bullish, JasmyCoin seems poised to breach the stubborn resistance highlighted in the red band at $0.025.
JasmyCoin is believed to have bottomed after testing support at $0.02 for the second time. May was the last time the token traded at this price level marking the areas as a critical support level.
To annihilate the resistance and nurture a steady trend reversal, JASMY must breathe from the descending channel which guided the massive correction from June’s peak of $0.045.
3. Stacks (STX)
Over the past week, Stacks has shown signs of recovery, climbing 13% to a current price. This uptrend comes after a period of decline, where the cryptocurrency experienced a 21% decrease over the past month.
In early June, STX had attempted a bullish breakout, reaching $2.48, but failed to sustain those levels. Despite these fluctuations, STX remains significantly below its all-time high of $3.84, recorded on April 1, 2024.
The bullish trend in Stacks price may soon challenge the $1.7 resistance level. If overcome, the asset could escalate to $2. Sustained bullish dynamics might push it toward $3 in the forthcoming market cycle. If the upward trend intensifies, a rise to $5 is conceivable.
As a potential crypto to buy in July, Stacks could help diversify portfolios to cash out for profit in 6 months. Breaking above key hurdles at $3 and $5 would further cement the bullish case.
#CPI_BTC_Watch #Ethereum_ETFs_Expected_Date #US_Job_Market_Slowdown #BinanceTournament