$BTC is maintaining its position above the ascending trendline support while encountering resistance from the MA 200 and the Ichimoku cloud. A decisive breakout above the Ichimoku cloud would confirm bullish sentiment, whereas a sustained breakdown of the ascending trendline would signal bearish momentum in the market.
#Bitcoin #ETFs hold 851k $BTC , 4.3% of circulating Bitcoin. After strong starts with inflows up to $2.5B, there's a slowdown since March. With Bitcoin at $60k after a drop, are more corrections ahead?
The US dollar pumped following the breakout of the symmetrical triangle. Currently, it is encountering horizontal resistance. The RSI is in the overbought region.
A rejection could be a likely scenario as long as it is trading below the horizontal resistance, while a solid breakout would confirm bullishness. It's worth noting that it typically moves inversely to the crypto market.
USDT.D continued its bearish move after the breakdown of the ascending triangle. The Ichimoku cloud is showing a bearish trend. It has bounced from the horizontal support and is trading below the MA 200.
A rejection from the MA 200 could be a possible scenario, while a sustained breakdown of the horizontal support would further confirm bearish sentiment. We have to note that it operates inversely proportional to the crypto market.
Breaking: China Asset Management, Bosera Capital, HashKey Capital Limited, etc. announced that their applications for $BTC and $ETH spot ETFs have been approved by the Hong Kong Securities and Futures Commission, allowing investors to directly use Bitcoin and Ethereum to subscribe for corresponding #ETF shares.