It sounds like you're referring to Bitcoin's price action in relation to the CME gap fill and a bullish price target of $104K. Here's a breakdown of what this likely means:
1. CME Gap Fill Explained - CME Gaps Bitcoin futures traded on the Chicago Mercantile Exchange (CME) often leave "gaps" on the price chart over weekends or holidays when the spot market (e.g., Binance, Coinbase) is still trading, but CME is closed. - Gap Fill Theory : Traders believe these gaps tend to get "filled" (meaning price eventually retraces to the gap level) at a later time, acting as a magnet for price action. - **July Gap Fill**: If Bitcoin recently filled a CME gap from July, it means the price moved to the level where the gap was left, completing a technical pattern many traders watch.
2. "To the Dollar" Meaning - This suggests that Bitcoin filled the gap precisely , hitting the exact price level where the CME gap was left, reinforcing the idea that gaps act as strong support/resistance zones.
3. $104K BTC Price Target - Some analysts (possibly based on technical patterns like Fibonacci extensions, institutional accumulation, or historical cycles) are projecting a long-term Bitcoin price target of $104,000. - This could be tied to: - Bull market cycle comparisons (e.g., 2017 & 2021 parabolic moves). - Institutional demand (spot ETF inflows, halving supply shock). - Technical indicators like logarithmic growth curves or Wyckoff accumulation phases.
Current Market Context (as of hypothetical July 2024) - If Bitcoin filled a CME gap and then resumed an upward trend, traders might see this as a bullish continuation signal. - A move toward $104K would likely require strong catalysts like: - ETF inflows (BlackRock, Fidelity, etc.). - **Macroeconomic shifts (Fed rate cuts, weakening dollar). - Halving effects (reduced miner supply post-April 2024).#TrumpTariffs #MarketPullback $BTC $XRP
As Bitcoin (BTC) hovers in a state of indecision ahead of the Federal Open Market Committee (FOMC) meeting, traders are closely watching key price levels that could dictate the next major move. Here are the critical BTC price levels to monitor:
#FOMCMeeting #BNBATH Key BTC Price Levels Ahead of FOMC 1. Resistance Levels - $72,000 - $73,800 The all-time high (ATH) zone remains the ultimate resistance. A decisive break above could trigger a new bullish phase. - $70,000 : Psychological resistance; a sustained move above this level could signal bullish momentum. - $68,500 - $69,500 : Short-term resistance; breaking this could lead to a retest of $70K.
2. Support Levels - $66,000 - $67,000 : Immediate support; losing this could lead to a deeper pullback. - $64,500 - $65,000 : Strong demand zone; a bounce here could reinforce bullish structure. - $60,000 - $62,000 : Major support; breakdown below this could signal a deeper correction.
FOMC Impact on BTC - Hawkish Fed (Higher Rates for Longer) : Could strengthen the dollar (DXY), pressuring BTC downward. - Dovish Fed (Rate Cut Signals) : Likely bullish for Bitcoin, as risk assets would benefit from liquidity expectations. - Neutral Stance : May lead to consolidation until clearer macroeconomic signals emerge.
What to Watch - BTC’s Reaction at $68K: Holding above this level pre-FOMC suggests bullish confidence. - Volume on Breakouts : Low liquidity could lead to fakeouts; watch for confirmation. - DXY & U.S. 10Y Yield : Inverse correlation with Bitcoin—strengthening dollar = BTC pressure. $BTC $BNB
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🌧 Scattered rains are expected in Lahore and surrounding areas over the next 24 hours. 🌡 Temperature : Around 30–36°C (day), 25–27°C (night). 💧 Humidity High, making it feel muggy. 🌬 Wind : Light to moderate breezes.
Precautionary Advice - Carry an umbrella or raincoat if heading out. - Possible waterlogging in low-lying areas—drive carefully. - Stay updated with local weather alerts for sudden changes. 😊
Ether ETFs outpace bitcoin for 6 straight days in rare flip
Ether ETFs have seen stronger inflows than Bitcoin ETFs for six consecutive days, marking a notable shift in investor interest. This rare trend suggests growing confidence in Ethereum's potential, possibly driven by factors like its utility in decentralized finance (DeFi), upcoming network upgrades, or relative undervaluation compared to Bitcoin.
Key Points: 1. ETF Inflow Trend – Ethereum-based ETFs have attracted more capital than Bitcoin ETFs over the past six trading days, a rare occurrence since Bitcoin ETFs have historically dominated flows. 2. Possible Drivers : - Ethereum’s Evolving Use Cases : Increased adoption in DeFi, NFTs, and smart contracts may be drawing institutional interest. - Regulatory Clarity : Progress in Ethereum’s regulatory status (e.g., SEC’s stance on ETH as a non-security) could be boosting confidence. - Market Cycle Dynamics : Some investors may see ETH as having more upside potential after Bitcoin’s strong rally earlier in the year. - Upcoming Upgrades Anticipation of Ethereum’s continued improvements (e.g., further EIPs, scalability solutions) could be a factor. 3. Bitcoin’s Dominance Still Strong – Despite this short-term flip, Bitcoin remains the larger market (by capitalization and ETF AUM), and its ETFs have seen massive inflows year-to-date. 4. Market Implications – If sustained, this trend could signal a broadening of crypto ETF demand beyond just Bitcoin, potentially benefiting altcoins and the wider ecosystem.
Why This Matters: - Sentiment Shift : Suggests investors are diversifying crypto exposure rather than concentrating solely on Bitcoin. - Ethereum’s Legitimization : Strong ETF flows could reinforce ETH’s position as a core institutional asset. - Competition in Crypto ETFs : May encourage more products tied to other cryptocurrencies.#BTCvsETH #StablecoinLaw $SOL $ETH
Crypto investment funds and exchange-traded products (ETPs) have seen significant inflows in 2024, totaling **$4.4 billion** year-to-date, according to recent reports. This surge highlights renewed investor confidence in digital assets amid improving market conditions.
### **Key Highlights:** 1. **Record Inflows in 2024** – Crypto ETPs have already surpassed their full-year 2023 gains, signaling strong institutional and retail demand. 2. **Bitcoin Dominates** – Bitcoin-based products accounted for the majority of inflows, likely driven by spot Bitcoin ETF approvals earlier this year. 3. **Ethereum & Altcoins Gain Traction** – Ethereum funds also saw notable inflows, while some altcoins benefited from improved risk appetite. 4. **Market Recovery** – The inflows coincide with Bitcoin’s price rebound, now trading above **$30,000** (as of the latest data), up significantly from 2022 lows.#StrategyBTCPurchase #BTCvsETH $BTC