Author: Umar Hashmi
https://www.youtube.com/watch?v=iIcWVrSxBaw
Bitcoin has continued to still range in price despite record inflows from spot Bitcoin ETFs. Experts have given reasons why this is happening. Despite billions in inflows to Bitcoin ETFs, BTC price shows minimal movement. Experts weigh in Fundamental data shows interesting trends that include high circulating supply and balancing acts between buyers and sellers. Despite the significant inflow into spot Bitcoin [BTC] Exchange Traded Funds (ETFs), the expected corresponding rise in Bitcoin’s price has yet to materialize, puzzling investors and analysts alike. Reports indicate an unprecedented surge in interest and capital inflow into these financial products, highlighting a burgeoning enthusiasm in…
The coin faces bearish pressure but a significant rebound will depend on the upcoming FOMC meeting and one other factor. Long liquidations were a lot higher than shorts after BTC fell below $70,000 Demand for the coin might decrease as sentiment remained negative The crypto market, led by Bitcoin [BTC], witnessed a rough day at the office on 7 June as prices plunged. At press time, BTC had lost 2.83% of its value in the last 24 hours while trading at $69,262. As a result of the decline which was reportedly triggered by a U.S jobs data , the total market capitalization dropped to…
XRP saw its lower timeframe market structure and momentum flip bearishly Despite the strong selling pressure, there is a chance of recovery XRP has been rangebound over the last ten months. It formed a smaller range over the past two months and did not show signs of breaking out of this range at press time. In fact, the technical indicators suggested that a price bounce from $0.514 might happen. Alas, this did not come to pass. XRP fell by 14.6% on 7 June, and it did so after bouncing by 10% from its lows, signaling a news-driven impulse move. What can traders expect from the…
XRP’s key indicators hinted at the possibility of a further decline in its value. XRP fell to a two-month low on 7 June XRP depreciated after reports claimed Ripple sold some of its XRP holdings XRP’s price cratered to a two-month low of $0.498 during the trading session on 7 June, according to Santiment’s data. The last time the altcoin was trading at this price level was back on 17 April. Source: Santiment This decline was caused by market jitters following reports that Ripple, the token’s developer and largest holder, sold 150 million XRP, valued at $75 million at current market prices, on…
Bitcoin could drop by at least 22% in the coming weeks after open interest reaches record highs. Bitcoin’s BTC $70,942 price has rebounded by more than 7% seven days after hitting a two-week low of approximately $56,550, reaching around $71,560 on June 6. However, a sharp correction in the coming days is possible based on a number of technical and on-chain factors. BTC/USD daily chart. Source: TradingView The latest recovery in BTC’s price has been fueled by a resurgence in spot Bitcoin exchange-traded funds (ETF) inflows that have surpassed $1.3 billion over the last two days. 100% of Bitcoin’s long-term traders are now…
The inflows from the United States spot BTC ETFs could help Bitcoin absorb the selling pressure from Friday’s option expiry. Bitcoin could fall below the $70,000 psychological mark on June 7, with over $2.2 billion worth of cryptocurrency futures options set to expire. Of the total $2.2 billion, $1.22 billion of Bitcoin futures options are set to expire on Friday, signaling a “max pain point” of $69,500 for Bitcoin’s BTC $71,014 price. The BTC futures options are set to expire with a put-to-call ratio of 0.66 on June 7, at 8:00 am UTC, according to a June 6 X post by Deribit…
Investors and traders need to be prepared for more range-bound price action in the coming weeks. Bitcoin speculators were reluctant to bid, based on the Open Interest stagnation. Funding rates were only slightly positive, and BTC might not be ready to rally. Bitcoin [BTC] held on to the $67k support level, defending the previous week’s gains and the bulls were looking to build on it. At press time, the price was at $68.9k, and the $71.4k-$71.6k is the next resistance zone. The trading volume slump posed a threat to the bulls. Short-term holder profitability also grew. The coin days destroyed metric soared recently, which could…
Trading activity dipped in May for the second time, but traders remained bullish. Crypto trading volumes hit second monthly low post-BTC halving event. Derivatives dominated the crypto market at +70% because of ETH ETF speculation. The typical financial lull associated with summer seems to be playing out in crypto markets. In May, crypto trading activity fell by 20%, marking the second month of a drop in trading volume across major exchanges, per a CCData report. Part of the report cited the ‘rangebound’ market for the trend and read, ‘In May, the combined spot and derivatives trading volume on centralised exchanges fell…
Does VanEck’s Ethereum projection signal rising institutional interest? VanEck projects Ethereum at $22,000 by 2030, fueled by ETF approval and institutional adoption. VanEck says ETH could hit $154,000 in a bullish market and fall to $360 in a bearish one. After days of anticipation, Bitcoin [BTC] surpassed the $70K milestone on 5th June. Mirroring this upward trend, Ethereum [ETH] experienced a 1.34% increase at the time of writing. Increased institutional interest Amid the positive market momentum, VanEck, a prominent asset manager, projected that Ethereum will reach $22,000 per coin by 2030. This bullish prediction is based on the anticipated approval of spot Ethereum exchange-traded…