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Analysis of the weekend BTC price drop
The sharp drop in the price of Bitcoin has restored the bearish trend. Sunday's 4% drop created a bearish engulfing candle, exacerbating the bearish sentiment. Long liquidations totaled $111M on Sunday and continued with $75M early Monday, reinforcing the bearish trend.
Bitcoin network hashrate reduction
The Bitcoin network hashrate decline has reached critical levels last seen in December 2022. Historically, such declines have preceded major price movements, suggesting a possible market bottom or impending bull phase. However, current price developments continue to indicate bearish trends.
#bullrun. #BTC🔥🔥🔥🔥🔥
The sharp drop in the price of Bitcoin has restored the bearish trend. Sunday's 4% drop created a bearish engulfing candle, exacerbating the bearish sentiment. Long liquidations totaled $111M on Sunday and continued with $75M early Monday, reinforcing the bearish trend.
Bitcoin network hashrate reduction
The Bitcoin network hashrate decline has reached critical levels last seen in December 2022. Historically, such declines have preceded major price movements, suggesting a possible market bottom or impending bull phase. However, current price developments continue to indicate bearish trends.
#bullrun. #BTC🔥🔥🔥🔥🔥
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Bitcoin Price Performance After a brief recovery on Saturday, Bitcoin plunged by 4% on Sunday, dragging the altcoin market into a bearish zone. Currently trading around $55k, Bitcoin has seen an intraday loss of 1.30%, with a low of $54,296.
This bearish trend has extended into the early Asian trading hours on Monday, indicating possible further declines. Altcoin Impact Bearish sentiment has had a strong impact on major altcoins. Ethereum, Solana, and Toncoin have fallen by 3.99%, 5.3%, and 4.67% respectively. Meme coins have suffered even more, with DOGE, SHIB, and PEPE down by 6.51%, 4.95%, and 11.23%.
This bearish trend has extended into the early Asian trading hours on Monday, indicating possible further declines. Altcoin Impact Bearish sentiment has had a strong impact on major altcoins. Ethereum, Solana, and Toncoin have fallen by 3.99%, 5.3%, and 4.67% respectively. Meme coins have suffered even more, with DOGE, SHIB, and PEPE down by 6.51%, 4.95%, and 11.23%.
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📈Bitcoin ETFs have recorded positive investment flows for 15 consecutive days, reflecting robust confidence from institutional investors.
🏦 Even though the price of Bitcoin has shown stagnation, the continued capital inflow into ETFs shows solid bottom support, indicating long-term optimism in the market.#Bitcoin #ETFvsBTC
🏦 Even though the price of Bitcoin has shown stagnation, the continued capital inflow into ETFs shows solid bottom support, indicating long-term optimism in the market.#Bitcoin #ETFvsBTC
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🐋 Bitcoin whales have invested a total of $100 billion in BTC in 2024, showing strong and decisive support towards the leading cryptocurrency.
📈 These significant movements by the whales suggest a possible start of a new rally in the price of Bitcoin, similar to that seen in previous years.
#Bitcoin #bullrun2024📈📈
📈 These significant movements by the whales suggest a possible start of a new rally in the price of Bitcoin, similar to that seen in previous years.
#Bitcoin #bullrun2024📈📈
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📅 This week, the expected macroeconomic events have little weight and are not expected to significantly influence the price of Bitcoin.
📉 Despite several minor economic events, such as non-farm payrolls in the US, their impact on the cryptocurrency market will likely be minimal.
📉 Despite several minor economic events, such as non-farm payrolls in the US, their impact on the cryptocurrency market will likely be minimal.
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🌐 VanEck announces the creation of an Ethereum ETF after receiving approval from the SEC, marking a significant milestone for cryptocurrency investments.
🚀 Despite the initial euphoria, the ETF is still waiting for the approval of the S-1 form, generating great expectations and speculation in the market.
🚀 Despite the initial euphoria, the ETF is still waiting for the approval of the S-1 form, generating great expectations and speculation in the market.
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The main points to highlight are:
1. The SEC has a maximum period of 45 days, which can be extended for an additional 45 days, to approve or reject Forms 19b-4 submitted by companies requesting to launch ETH ETFs.
2. Several companies such as BlackRock, VanEck and ARK Invest have requested the creation of these exchange-traded funds.
3. There is a widespread belief among investors that the approval of ETH ETFs will boost the price of the cryptocurrency by attracting more institutional capital.
4. Some experts consider that the approval of these ETFs is imminent, given that the SEC has already approved the first Bitcoin spot ETFs.
Therefore, the estimated date for the approval of Ethereum ETFs by the SEC is around May 23, 2023, as it was done, although the final decision could be delayed up to 45 more days.
#ETFETH
1. The SEC has a maximum period of 45 days, which can be extended for an additional 45 days, to approve or reject Forms 19b-4 submitted by companies requesting to launch ETH ETFs.
2. Several companies such as BlackRock, VanEck and ARK Invest have requested the creation of these exchange-traded funds.
3. There is a widespread belief among investors that the approval of ETH ETFs will boost the price of the cryptocurrency by attracting more institutional capital.
4. Some experts consider that the approval of these ETFs is imminent, given that the SEC has already approved the first Bitcoin spot ETFs.
Therefore, the estimated date for the approval of Ethereum ETFs by the SEC is around May 23, 2023, as it was done, although the final decision could be delayed up to 45 more days.
#ETFETH
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The SEC has delayed review of the ETH ETF application filed by Invesco and Galaxy, extending the decision deadline to July 5, 2024. This suggests that the SEC has not yet made a decision on these ETFs.
#ETFETH
#ETFETH