🎯🎯🎯 Bitcoin Price Predictions by AI based on last 13 years price action data: 🔥🔥🔥

Short-term (by end of 2023): 🤏
- Bitcoin to rise from $30,000 to $40,000.
- Factors: Institutional accumulation, positive ecosystem developments, limited downside.

Short-term (early 2024): 🔼
- Bitcoin to reach $50,000-$60,000 pre-halving in April 2024.
- Factors: Halving anticipation, retail investor demand, potential short squeeze.

Medium-term (around 2025): 👀🐮
- Bitcoin ATH $100,000-$150,000.
- Factors: Institutional adoption rising, new products and services development, supportive regulatory clarity, Bitcoin's scarcity, macroeconomic turmoil hedging.

Long-term (post-ATH, possibly end of 2025): 🐻
- Bitcoin to consolidate around $40,000-$50,000.
- Factors: Profit-taking by some investors, increased miner selling, cautious investor attitude.

What you think, let me know in the comments... 🔥🔥😍😍😍

**Remember, this is a prediction and not financial advice. Actual Bitcoin prices may vary due to various factors.

$BTC #CryptoTalks #crypto #BinanceSquare #BinanceTournament

🐕🐾🔥 Shiba Inu: $100 to $1.6 Billions

If you had invested $100 in Shiba Inu at its first opening price and sold it at its all-time high, you would have made over $1.6 billion.👀👀👀

Shiba Inu was launched in August 2020 with an initial price of $0.000000000056. If you had invested $100 at that time, you would have purchased 1.8 trillion #SHIB tokens.
The price of SHIB reached its all-time high of $0.00008845 in October 2021. If you had sold your SHIB tokens at this time, you would have made over $1.6 billion.🚀🚀🚀

This is a staggering return on investment, and it is a testament to the volatility of the cryptocurrency market. However, it is important to note that past performance is not indicative of future results. It is also important to remember that investing in #cryptocurrency is a risky investment, and you should only invest money that you can afford to lose.🔥🔥🔥

Here is a table that summarizes your investment:🐮🐮🐮

Investment Purchase price Sale price Profit
$100 in SHIB $0.000000000056 $0.00008845 $1.6 billion

Please note that this is a hypothetical calculation, and it is not guaranteed that you would have made this much profit if you had actually invested in $SHIB

#crypto #BinanceSquare #TrendingTopic

💥💥💥 TON Outperforms #Ethereum in Key Metrics

The TON blockchain has recently outperformed Ethereum in several key metrics, attracting significant attention. In the first two weeks of June, TON’s price surged by 4.44% to $7.9, and its market cap exceeded $19 billion, making it the 9th largest cryptocurrency by volume. This price increase highlights TON's growing influence.

Comparison Between TON and Ethereum

A crucial metric is the number of daily active addresses. Since May 17, TON has shown comparable values to Ethereum, surpassing it on 10 out of the first 11 days of June. On June 3, TON had 568,300 active addresses, a level Ethereum hadn’t reached since September 13, 2023. Ethereum’s Layer-2 solutions, such as Arbitrum, Base, and Optimism, handled a combined 1.3 million daily active addresses on June 11.

Factors Driving TON's Surge

Support from Telegram: Telegram's backing has significantly boosted TON, providing seamless integration and accessibility, which increases user engagement.

Applications like Notcoin: Notcoin has attracted millions with its reward system, entering the market in May and quickly becoming the 49th largest #cryptocurrency with a market value of $1.9 billion.

Key Takeaways for Users

Active Daily Addresses: TON has outperformed Ethereum in this metric for most of June.

Market Value: TON’s market value rise is linked to community engagement and application use.Platform Support: Major platform support, especially from Telegram, has been crucial for TON’s growth.

Application Impact: Apps like #Notcoin👀🔥 have significantly bolstered TON’s ecosystem.

Future Outlook

The competition between TON and Ethereum will be closely monitored. TON’s success is driven by robust platform support and innovative applications, indicating its potential to continue growing and impacting the blockchain landscape. As these two giants vie for dominance, the developments will be pivotal for the future of cryptocurrency.

Source - en.bitcoinhaber.ne

#tonecoin #BinanceSquareTalks

🔥🔥🔥 Legendary Trader Warns: #bitcoin Could Plunge Below $50,000 If These Key Levels Break

Renowned trader Peter Brandt recently shared insights on Bitcoin's potential market movements, forecasting a challenging phase followed by a substantial rally.

Brandt's analysis suggests that if Bitcoin breaches the $65,000 support level, it could trigger a further decline to approximately $60,000, potentially bottoming out around $48,000.

Bitcoin has struggled to maintain momentum above $70,000, showing a 5.6% decline over the past week, currently trading at $67,170.

Despite the cautious short-term outlook, Brandt sees a silver lining with the possibility of significant recovery. He outlines the immediate risks and anticipates a rebound phase, termed as the "pump" following the initial "dump."

Brandt emphasizes the volatile nature of #cryptocurrency markets and identifies these cycles as typical in bull markets, crucial for distinguishing between novice traders and experienced investors.

In contrast, financial giant JPMorgan has raised concerns about #BitcoinETFs and their impact on market dynamics.

JPMorgan highlights that recent inflows into Bitcoin ETFs largely represent a shift from traditional cryptocurrency exchange wallets to ETFs perceived as more regulated and secure.

The attractiveness of ETFs lies in their cost-effectiveness, regulatory safeguards, and deeper liquidity compared to conventional crypto wallets. Despite the introduction of spot ETFs, there has been a noticeable decrease in Bitcoin reserves on exchanges, indicating a preference shift towards ETFs for Bitcoin exposure.

However, #JPMorgan 's analysis challenges the bullish narrative of surging institutional demand, estimating net flows into Bitcoin ETFs since January at approximately $12 billion, suggesting that institutional interest might not be as robust as initially perceived.

Source - newsbtc.com

#CryptoTrends2024

💥💥💥 #Dogecoin‬⁩ Sees Monumental Surge In Transactions As Whales🐳🐳🐳 Spend $129 Million

Dogecoin faces a pivotal moment in its price trajectory, driven by recent whale activity amid a significant decline in the past week. Despite the downturn, large holders have opportunistically accumulated substantial amounts of DOGE. Santiment data shows addresses holding between 10 million & 100 million Dogecoins acquired over $129 million worth of DOGE in the last seven days.

Whale Accumulation Signals Confidence

- During this period, whale addresses have increased their holdings by over 900 million tokens, indicating a strong belief in DOGE despite its recent price struggles. Consequently, the combined holdings of these whale wallets now total approximately 18 billion tokens, marking a 5% increase from previous levels.

- Whale accumulation usually coincides with price stability and growth, but the current phase is unique as it aligns with a price decline, indicating a strategic shift in their behavior. IntoTheBlock data shows a sharp increase in $DOGE transactions & trading volume, with over 9.29 billion DOGE tokens traded in the last 24 hours, highlighting active trader participation.

Impact of Whale Transactions on Price Dynamics

- Dogecoin's market behavior is heavily influenced by sentiment, particularly driven by large investors or "whales." Their buying activity can trigger bullish momentum & stimulate demand among traders. Recent whale accumulation suggests a potential catalyst for renewed bullish sentiment. Currently trading at $0.1367, DOGE has seen an 11.29% decline over the past week, with a slower 0.6% loss in the last 24 hours. Analysts view this phase as critical, potentially forming a significant bottom around the $0.14 mark for DOGE.

In summary, while Dogecoin faces short-term price challenges, the strategic accumulation by whales suggests underlying confidence in its future prospects, potentially setting the stage for a reversal in its price trajectory.

Source - newsbtc.com

#CryptoTrends2024 #cryptupdates #BinanceSquareTrends

👉👉👉 #bitcoin bank proposal gains momentum in #elsalvador

El Salvador Proposes Private Investment Banks to Boost Bitcoin Adoption

- El Salvador's President Nayib Bukele has proposed the creation of private investment banks to enhance Bitcoin (BTC) adoption by offering less restrictive financial services compared to traditional banks.

Key Proposal Points:

- Bank for Private Investment (BPI): Announced by Salvadoran Ambassador to the U.S., Milena Mayorga, BPIs would diversify financing options in Dollars and Bitcoin.

- Legislative Background: The proposal follows Bukele’s recent re-election and aims to attract investors by reducing regulatory constraints on BPIs, unlike traditional banks.

- Regulatory Relief: BPIs would face fewer restrictions on overseas engagements and loan limits, allowing more flexibility in operations and risk management.

- Requirements: Establishing a BPI requires a minimum share capital of $50 million and at least two shareholders, who can be foreign. BPIs could operate in legal tenders like the U.S. Dollar and Bitcoin, and seek approval as digital asset service providers.

Legislative Process:

- The proposal, directed by Bukele and introduced by Minister of Economy María Luisa Hayem, is under review by the Technology, Tourism, and Investment Commission but has yet to be approved.

- El Salvador’s initiative aligns with its broader strategy to integrate Bitcoin into its financial system, potentially attracting significant investment and fostering economic growth.

Source - cointelegraph.com

🔥🔥🔥 3 reasons why $65K marks the bottom for #bitcoin

Bitcoin Shows Resilience Amid Regulatory Shifts and Economic Pressures

- Despite testing the $65,000 support on June 14, Bitcoin (BTC) has not closed below $66,000 since May 17, indicating resilience amid regulatory and economic changes.

Regulatory Developments

- Congressional Review Act: On May 16, U.S. lawmakers passed this act to examine an SEC rule on crypto assets. Although vetoed by President Biden, the move shows increasing political support for crypto, highlighted by Senator Cynthia Lummis and Perianne Boring as significant.

- Banking Sector Involvement: Banks have economic incentives to offer crypto custody services, bolstering ongoing crypto adoption. This growing influence in U.S. politics could lead to more favorable regulations.

Economic Pressures

- Federal Reserve Policies: The U.S. Federal Reserve is under pressure to lower interest rates to avoid recession. Inflation remains above target, and the labor market is softening. The 2-year Treasury yield dropped to a 70-day low, reflecting concerns about economic growth.

- Market Reactions: Investors are moving towards equities and scarce assets like Bitcoin to avoid inflation and low bond returns. The Fed's cautious approach in slowing quantitative tightening signals optimism that inflation is stabilizing, but high borrowing costs still suppress economic activity.

Bitcoin Derivatives Market

- Derivatives Metrics: Despite an 8.5% price drop between June 6 and June 14, the Bitcoin futures premium remained robust, staying above 10%, indicating a bullish market. This suggests no significant stress or excessive demand for short leverage, reinforcing the $65,000 support level.

Summary

The resilience of Bitcoin, amid favorable regulatory developments and cautious economic policies, suggests limited downside risk. The ongoing interplay of these factors indicates potential for Bitcoin to maintain strength and possibly rise further.

Source - cointelegraph.com

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

💥💥💥 Good news for #Ethereum Investors from #SEC Chairman Gary Gensler: He Set a Date for the Final Approval of Spot ETH ETFs!

SEC Chairman #GaryGensler Expects Approval of Spot Ethereum #ETFs by End of Summer

- Speaking before the Senate Appropriations Committee, SEC Chairman Gary Gensler indicated that he anticipates the approval of S-1 filings for spot Ethereum ETFs by the end of the summer.

- Fox correspondent Eleanor Terrett provided details on the discussion between Gensler and US Senator Bill Hagerty regarding the timeline for Ethereum ETF approvals.

- In May, the SEC approved 19b-4 applications for spot Ethereum ETFs. However, before these ETFs can begin trading, the SEC must also approve the S-1 filings. While market analysts expected the approval for S-1 applications for ETH ETFs to come in June or July, Gensler's statement aligns partially with these predictions.

As of now, Ethereum is trading at $3,518.

This is not investment advice.

Source - en.bitcoinsistemi.com 

#CryptoTrends2024

🔥🔥🔥 Forbes Highlights #shibaInu Success: Four Key Points of Praise

Forbes Recognizes Shiba Inu’s Achievements

In a June 11 article, Forbes dedicated a segment to celebrating Shiba Inu's achievements in both the crypto world and traditional finance.

"All hail Shiba Inu, cutest of all the doges!" the segment began, highlighting that Shiba Inu is not just a #memecoin🚀🚀🚀 with a "pretty face" but a cryptocurrency demonstrating real utility.

Shiba Inu Team Reacts, Summarizes Forbes Article into Four Key Points

Shiba Inu marketer Lucie celebrated the recognition from the prominent business media outlet. She summarized the Forbes article into four main points:

1. Innovation Leadership: Forbes highlighted Shiba Inu's role in setting the technological pace for other crypto assets, showcasing its leadership in innovation.

2. Partnership with Zama.ai: The article recognized Shiba Inu's partnership with Zama.ai to develop a fully homomorphic encryption platform, emphasizing the project’s commitment to improving privacy and security.

3. Transition to Practical Utility: Forbes praised Shiba Inu for evolving from a memecoin to a token with practical utility, including security and identity solutions.

4. Impact on Traditional Finance: Lastly, Forbes noted that Shiba Inu's influence extends beyond the crypto world into traditional finance, setting new industry standards.

Lucie emphasized that this recognition reflects the hard work of Shiba Inu’s developers and the project's progress in the crypto space.

Shiba Inu’s Commitment to Innovation

Since August 2020, Shiba Inu has transformed from a memecoin to a utility-focused project under Shytoshi Kusama. The team has launched a DEX, Layer-2 blockchain, NFTs, DN-404 tokens, and a domain name system. Upcoming projects, set for the 2024/2025 market cycle, include an L3 privacy #Blockchain , a #metaverse project, and a play-to-earn version of Shiba Eternity, showcasing Shiba Inu's commitment to innovation and leadership.

Source - thecryptobasic.com

#BinanceSquareTalks

👉👉👉 U.S. CPI Was Flat in May, Beating Expectations; #bitcoin Rises to $69.2K

The U.S. Consumer Price Index (CPI) remained unchanged in May, outperforming economist expectations of a 0.1% increase & down from April's 0.3% rise.

On a year-over-year basis, #cpi increased by 3.3%, slightly below the anticipated 3.4% and last month's reading of 3.4%.
The core CPI, which excludes food & energy costs, rose 0.2% in May, also beating forecasts of a 0.3% increase and compared to April's 0.3% rise. Year-over-year, core CPI increased by 3.4%, against expectations of 3.5% and April's 3.6%.

Bitcoin (BTC) responded positively to the lower-than-expected inflation data, jumping to $69,400, up nearly 4% over the past 24 hours.

After significant declines in inflation during 2022 and 2023 as the Federal Reserve raised interest rates, the trend has stalled in recent months, remaining above the policymakers' 2% target. This has dampened market participants' expectations of imminent rate cuts.

Earlier this year, traders anticipated five or six 25 basis points (bps) rate cuts in 2024 by the end of December. However, this expectation shrank to one or two cuts before today's CPI report, with the first cut not expected until September, according to the CME FedWatch Tool.

Crypto prices have been "highly sensitive" to U.S. economic data recently, noted K33 Research in a report earlier this week. Recent higher inflation figures and reduced hopes for rate cuts led to Bitcoin's decline from all-time high prices above $73,000 in March to below $57,000 in May. Traders anticipate that looser monetary conditions will fuel the next leg of the crypto rally to record prices.

Several major central banks, including the European Central Bank and the Bank of Canada, have recently lowered benchmark rates, causing the U.S. dollar index (DXY) to reach a one-month high. Investors are now awaiting the Federal Reserve's "dot plot" release, which will reveal interest rate projections from Federal Market Open Committee members and could significantly impact asset prices.

Source - coindesk.com 

💥💥💥 Pepe, #Bonk surge despite sell-off in #Memecoins🤑🤑

PEPE and BONK have defied the broader crypto market downturn, showing notable gains over the past 24 hours. Analyst Michael van de Poppe suggests a market rebound is possible due to key macroeconomic events this week, including the Consumer Price Index (CPI) release, the Federal Open Market Committee (FOMC) meeting, and the Federal Reserve’s interest rate decision.

PEPE's Performance:

- PEPE reached a low of $0.00001163 on June 11 but bounced back to around $0.000013, marking an 8% increase over the past 24 hours. If support holds, further upside is possible.

BONK's Performance:

- BONK, Solana's first dog-themed memecoin, is currently priced at $0.00002872, up 6% in the past 24 hours. Although it reached an all-time high of $0.00004547 in March, it is down 17% over the past week. Today’s bounce could lead to further gains.

Market Outlook:

- Despite Bitcoin's decline and pressure on other altcoins, van de Poppe believes a bullish reversal is likely, especially after the FOMC meetings. The resilience of PEPE and BONK amidst market declines highlights the dynamic nature of the crypto market, particularly in the meme coin segment. Investors should closely monitor these developments given the upcoming macroeconomic events.

Source - coinjournal.net

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

#Ethereum Price Slips: Slow Descent as Market Pressure Mounts

Ethereum's attempt to break above the $3,650 resistance failed, resulting in a downturn below $3,550 and signaling persistent bearish trends. The price slipped below the critical $3,550 support and the 100-hourly Simple Moving Average.

On the ETH/USD hourly chart from Kraken, a significant bearish trend line has emerged near the $3,650 threshold, indicating resistance. Failure to sustain positioning above this resistance may extend losses.

Although Ethereum briefly surpassed the 23.6% Fibonacci retracement level, further gains may face resistance around $3,550. The $3,570 mark represents a significant hurdle, closely aligned with the 50% Fibonacci retracement level and a crucial bearish trend line near $3,650.

An upside breakthrough above $3,650 could lead to resistance levels at $3,720, $3,820, and potentially a challenge of the $4,000 zone. Conversely, failure to breach $3,550 may prompt further downside movement, with initial support at $3,475 and a more substantial zone near $3,430.

Technical indicators, like the hourly MACD and RSI, suggest weakening momentum in the bearish zone. In summary, Ethereum's struggle to surpass key resistance levels indicates ongoing bearish pressures, potentially leading to further downside unless critical support levels are reclaimed.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

💥💥💥 #CryptoExpert Reveals Top 7 AI Tokens For Massive 100x Growth – Don’t Miss Out!

The fusion of artificial intelligence (AI) and #Blockchain technology is gaining traction, prompting the launch of new tokens and listings on major exchanges like Binance. Analysts, known as "Crypto Symbiote," predict significant price surges for 10 AI-related tokens, with potential gains of 10x to 100x. They identified these top tokens after evaluating around 500 similar projects.

AI-Related Tokens Poised for Major Growth:

1. Omni Network ($OMNI ):

- An Ethereum-native protocol enabling rapid communication between Ethereum rollups.

- Current price: $15

- Market cap: $163 million

2. Numerai ($NMR ):

- A data science competition platform for predicting the stock market using machine learning models.

- Current price: $24

- Market cap: $168 million

3. SSV Network ($SSV ):

- A decentralized Ethereum staking network using Secret Shared Validator (SSV) technology for non-custodial staking.

- Current price: $36

- Market cap: $278 million

From Crypto Web3 Domains to AI Monetization:

4. Space ID Protocol (#ID ):

- A universal name service network for web3 domains, offering a multi-chain name service and development tools.

- Current price: $0.6

- Market cap: $279 million

5. Golem Project (#GLM ):

- A decentralized platform for sharing and accessing computational resources.

- Current price: $0.44

- Market cap: $445 million

6. AltLayer (ALT):

- A decentralized protocol enhancing the security, decentralization, and interoperability of rollups.

- Current price: $0.29

- Market cap: $449 million

7. NFPrompt (#NFP ):

- A Web3 tool for monetizing AI-generated content through verifiable ownership of AI art.

- Current price: $0.43

- Market cap: $110 million

Conclusion:

These AI tokens are believed to have substantial growth potential due to their innovative technology, potential for widespread adoption, and current undervaluation. However, investors should conduct thorough research and exercise caution when investing.

Source - newsbtc.com

💥💥💥 Will #shibaInu (SHIB) Lose $0.00002? #bitcoin (BTC) Plummets After Hitting $70,000, #Solana⁩ ($SOL ) Might Be Safest Asset on Market's Top Right Now

Bitcoin surged above $70,000 but quickly fell below $69,000 due to increased selling pressure, indicating potential profit-taking by investors. Currently trading around $68,000 near its 50-day EMA, Bitcoin faces a bearish divergence on the RSI, suggesting waning momentum. If it fails to hold this level, the 200 EMA support might be tested. Despite this, Bitcoin's long-term trend remains positive, with the decline potentially being a market correction.

Solana's Stability

- Solana remains stable, trading around $150 at the 100 EMA, showing resilience and a strong support level. Unlike other volatile cryptocurrencies, Solana's long-term trend remains bullish. The RSI indicates potential for upward movement without being overbought. Consistent trader interest suggests Solana might be poised for gains if market sentiment improves.

Shiba Inu's Struggles

- Shiba Inu has fallen below its 100 EMA support level, raising investor concerns. Currently, SHIB is nearing the next major support around $0.000019 with an oversold RSI, indicating potential for continued selling pressure but also a possible brief rebound if buyers step in. The declining volume suggests diminishing buying interest, and if selling persists, SHIB might test the 200 EMA support soon.

Source - u.today

#CryptoNews🔒📰🚫 #BinanceSquareTalks

🔥🔥🔥 #dogwifhat To Tumble? Analyst Sets $1 Target For $WIF

Dogwifhat (WIF), once a #memecoin🚀🚀🚀 sensation, is now mirroring Bitcoin's downturn with a price dip exceeding 10%. Speculation from analysts like Bluntz suggests WIF may target $1 next after experiencing a 95,000% surge to $4.58 by March's end, followed by oscillations between $2.3 and $3.7. Bluntz views this descent as a "generational buy opportunity," anticipating a new ATH after hitting $1.

However, not all analysts agree. Otsukimi sees WIF's chart displaying solid performance, hinting at a potential bounce back from current levels with a wide bullish consolidation.

Elon Musk's recent mention of Dogwifhat during a live stream sparked speculation about his interest in the token, but the "Musk Effect" had little impact on WIF's price, which remained between $2.65 and $2.8. Musk's mention did lead to the creation of dogwifihat (WIFIHAT), which surged by 6,200% briefly before retracing over 95% in the past 24 hours.

WIF itself experienced a 14.6% decline in the last day, trading at $2.44. This represents a 26.3% and 18% decrease in the weekly and monthly timeframes, respectively, despite a 76.1% increase in market activity with a daily trading volume of $705.6 million.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareTalks #CryptoMarket

💥💥💥 #NFT Prices Tumble As Crypto Investors Place Big Bets On #bitcoin And Ethereum #ETFs

The non-fungible token (NFT) market is experiencing a decline in popularity amidst optimism around Bitcoin (BTC) and Ethereum (ETH) price spikes. Google searches for NFTs have hit their lowest levels since 2021, as reported by Bloomberg. NFT sales dropped over 6% to $8.5 billion in the first five months of this year, compared to the same period last year. This is a significant decline from the peak in January 2022, when sales reached $17.2 billion in one month.

The sentiment around NFTs worsened last month when the US SEC took steps toward approving ETFs directly investing in Ethereum, causing investors to reallocate funds from NFTs to ETH. Nicolas Lallement of NFT Price Floor noted this capital rotation is common in crypto markets, contributing to price drops for NFTs.

Popular NFT collections like CryptoPunks, Bored Ape Yacht Club (BAYC), and Chromie Squiggle have seen significant price declines, with some dropping around 40% to 50% year-to-date. Despite some collections like XCOPY’s posting positive returns recently, the overall trend indicates a market correction.

Daniel Maegaard, an NFT collector, confirmed the ongoing decline or stagnation of most NFT collections since their 2021 peak. While Magic Eden has shown some resilience and gained market share, its trading activity has decreased since April.

Overall, the NFT market is reflecting a decline in both popularity and prices, with continued correction expected. ETH was trading at $3,480, following a sharp decline along with Bitcoin.

Source - newsbtc.com

#CryptoNews🔒📰🚫 #BinanceSquareTalks

🔥🔥🔥 $BTC average change in retail demand falls to 5-month low, could a 75% rally be next?

Bitcoin's retail demand has declined over the past month, with some analysts suggesting it might signal an impending price surge similar to early 2024. Retail investor interest, defined by those with up to $10,000 in transfer volume, has dropped to its lowest in five months, a level last seen in January. This previous decline led to a 75% surge over two months.

CryptoQuant's Axel Adler reported a negative 17% average monthly change in retail demand over the past 30 days. A similar drop to -18% in January preceded Bitcoin’s rise from $40,000 to $70,000, following the approval of spot #BitcoinETFs in the U.S., which drove Bitcoin to a mid-March all-time high of $73,679.

Adler also noted a 31% demand drop over 17 days before May 24, with a shift attributed to rising interest in GameStop and #Ethereum due to initial spot Ether ETF approvals. Factors like the U.S. Consumer Price Index (CPI) also influence Bitcoin demand; a lower CPI can make Bitcoin more appealing as traditional savings yield less.

Markus Thielen of 10x Research indicated that the CPI must drop to 3.3% on June 12 for Bitcoin to reach new all-time highs. On June 11, Bitcoin fell below its November 2021 all-time high of $69,000, trading at $67,350, down 3.19% in 24 hours per CoinMarketCap. This decline led to $52.87 million in Bitcoin long positions being liquidated, though open interest remains above $35 billion per CoinGlass data.

Despite traders' hopes for a rebound above $70,000 after a June 8 drop, Bitcoin has yet to recover. Future traders appear pessimistic about a near-term recovery, with $2.14 billion in short positions hinging on the June 12 CPI results.

This is not investment advice.

Source - cointelegraph.com

#CryptoTrends2024 #BinanceSquareBTC

👉👉👉 After the Sudden Decline in #bitcoin , Legendary Analyst il Capo Shares What to Expect Next

Following a sudden decline in the #cryptocurrency market, the renowned analyst Capo of Crypto, often described as legendary by some, shared insights about Bitcoin's recent performance.
Today, Bitcoin's price dropped nearly 5%, falling to $66,123.

This decline also impacted the altcoin market, with #altcoins experiencing similar percentage drops to $BTC .

In his latest post, Capo of Crypto emphasized that the critical $67,000 support level had been breached. However, he noted that demand for Bitcoin remains robust despite this downward movement.

Discussing his outlook and scenarios, Capo mentioned that surpassing the $67,000 level once again would favor the bulls. He also identified $65,000 as another significant support level.

According to Capo, the metrics suggest that it is more likely for Bitcoin to reclaim the $67,000 level, which would indicate a deviation in price movement. He concluded by stating that his current stance is to "wait and see."

*This is not investment advice.

Source - en.bitcoinsistemi.com

#CryptoTrends2024 #BinanceSquareTalks

💥💥💥 #bitcoin Price Falters: Another Downturn In Crypto Prices

Bitcoin's price failed to sustain above the $68,500 support zone, leading to further losses and bearish signals below $68,800.

Bitcoin's Decline

- Initial Surge and Drop: Bitcoin attempted to rise above the $69,500 resistance, briefly breaking $70,000, but couldn't maintain gains. The price peaked at $70,142 before starting a fresh decline.

- Support Levels Breached: It fell below key support levels at $69,500 and $68,500, reaching a low of $67,920. The price is now consolidating near the 23.6% Fib retracement level from the $70,142 high to the $67,920 low.

Current Trading Position

- Below Key Averages: Bitcoin is trading below $69,500 and the 100-hour Simple Moving Average.

- Resistance Levels: Immediate resistance is around $68,800, with significant resistance at $69,000 (50% Fib retracement level of the recent decline) and $69,500, where a bearish trend line is forming on the hourly chart.

- Potential Upside: A clear move above $69,500 could push the price to test the $70,000 level, and further gains might target $71,200.

Potential for Further Declines

- Failure to Rise: If Bitcoin doesn't climb above the $69,500 resistance, another decline may start.

- Support Levels: Immediate support is near $68,000, with major support at $67,650 and $67,500. Continued losses could drive the price toward $66,400.

Technical Indicators

- MACD: Gaining momentum in the #BEARISH📉 zone.

- RSI: Below the 50 level for BTC/USD.

Summary

- Support Zones: $68,000, $67,500.

- Resistance Zones: $69,000, $69,500.

Bitcoin's failure to stay above critical support levels has led to further losses. Resistance is around $68,800 and $69,500. If these are not surpassed, the price could decline to $68,000, $67,500, or even $66,400. Technical indicators highlight this bearish trend, stressing the need to break significant resistance to reverse it.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareBTC #cryptocurrency

#Ethereum Price Downward Drift: Decline Resumes Again

Ethereum struggled to surpass the $3,720 resistance, leading to another decline and raising concerns about potential losses below the critical $3,550 support.

After briefly surging above $3,700, Ethereum faced resistance and dropped below $3,650 and the 100-hourly Simple Moving Average. A significant #BEARISH📉 trend line is forming with resistance around $3,680 on the hourly chart of ETH/USD.

If Ethereum fails to breach the $3,650 resistance, downside movement may continue towards initial support near $3,550, followed by the critical $3,520 zone and $3,500. Further declines could target $3,320 and $3,250.

Key resistance levels include $3,640, $3,680, and $3,720. Surpassing these levels might lead to further upward movement towards $3,750, $3,800, and $3,880.

Technical indicators show increased bearish momentum, with the MACD indicating downside pressure and the RSI below the 50 zone.

- Key Support: $3,550

- Key Resistance: $3,650

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency