The crypto market is experiencing volatility as all eyes are on the SEC's decision regarding spot Ethereum ETFs. The probability of approval has jumped to 75%, driving prices up. Bitcoin hit a new high at $72,000, but has since corrected to $67,908.
📈 Ethereum and Altcoins:
- Ethereum: Surged from $3,000 to $3,700.
- Altcoins: Recovering from recent losses, fueled by bullish sentiment.
🔮 Predictions:
- If the ETF is approved, Ethereum could reach a new all-time high, potentially sparking an altcoin season.
- Bitcoin could rebound to $80,000, setting sights on $100,000 in 2024.
💡 Technical Insights:
- Bitcoin is currently under pressure, with support areas below $67,000.
- RSI signals a short-term bearish outlook, suggesting a possible drop to $60,000.
📊 ETF Inflows:
- Positive net inflows for Bitcoin ETFs, with BlackRock and Fidelity leading.
- Market sentiment is improving after weeks of outflows.
🌟 What to Watch:
- SEC's decision on Ethereum ETFs.
- Bitcoin's ability to hold support at $67,000 and reclaim $72,000.
Stay tuned for more updates as the market navigates these crucial developments! 🌐📈