Bitcoin went to the upper limit of the range that was indicated in the Review this morning. And this is despite the fact that the S&P 500 is still falling today, and the dollar index has returned above 104.
At the same time, the market also ignored the FUD from Bloomberg - they stated that the government of England was going to sell its Bitcoins, which were worth $5 billion. The reason is that they really need money).
However, there was no evidence of this.
Breaking the correlation with the stock market is good. Moreover, this correlation has no economic basis.
FUD from Bloomberg is good because the market ignores it (a sign of a strong market).
But if suddenly the government of England turns out to be the same idiots as the government of Saxony and this turns out to be true - then bad, since growth will have to be postponed for a couple of weeks.
But this will not change Bitcoin’s medium-term prospects.
Trump is going to the Bitcoin 2024 conference. He is clearly aiming to do something to finally win over the crypto audience.
But he is a pragmatist. That’s why he sells seats at the table with him for $844,600 and photos for 60K.
For further growth, Bitcoin needs to gain a foothold above 66200. But a good option is to simply go away for the weekend with Bitcoin above 65K (preferably above 65500). This will ensure good growth for alts.
According to Glassnode, BTC-ETF issuers bought 900K BTS in 7 months.
Now ETH-ETF is coming (the news may come out today or at night, taking into account the time zone).
Apparently, the CEO of Galaxy Digital, Mike Novogratz, bought $1 billion worth of Ethereum based on this theme.
It will be interesting. But most likely, not so predictable.
$ETH #Bitcoin #BTC $BTC #Ethereum #ETH
