Bitcoin

April

ORDI

Rekt

<p class="is-style-lead">Bitcoin has crossed the $30,000 threshold, fanned by growing institutional interest and favorable technical indicators. The potential approval of bitcoin spot exchange-traded funds (ETFs) is also being considered. Nonetheless, what lies ahead for this widely-used cryptocurrency remains to be seen.</p> 
<p>Bitcoin (<a href="http:///crypto.news/price/bitcoin/">BTC</a>), the biggest cryptocurrency in the world, has risen above the $30,000 mark once again. This is noteworthy as BTC last reached this level back in April.</p> 
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 <img decoding="async" src="https://lh5.googleusercontent.com/XZ-9GCNqc_YX7i_tNW6JWZB1jcmuwy-Hsh8_0MFbzYi8d2Vv2WI_CaxAQcfhifzpRdFFL5sKlPm1WgbKwDmV5kG-kX7wJga87YMRGpEha4w1FSqK9m6Hmd3SpBVB0QlEISZ3qwn0fUvTim4fjleY5w4" alt="Bitcoin steadies above $30k, institutional interest fanning demand - 1">
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  BTC 3-month price chart | Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener">CoinMarketCap</a>
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<p>There has been a recent resurgence in the crypto market due to increased interest from institutional investors and recent developments, such as the filing of bitcoin ETFs. The launch of a crypto exchange backed by Wall Street has also helped create positive momentum.</p> 
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   <p lang="en" dir="ltr">EDX MARKETS: A NEW CRYPTO EXCHANGE LAUNCHES BACKED BY WALL STREET GIANTS<br><br>EDX Markets, a non-custodial cryptocurrency exchange, has begun operations with support from Citadel Securities, Fidelity Investments, and Charles Schwab. <br><br>Unlike traditional exchanges, EDX focuses on… <a href="https://t.co/UV8OF8zBwe" target="_blank">pic.twitter.com/UV8OF8zBwe</a></p>— Forexblog (@Forexblog_) <a href="https://twitter.com/Forexblog_/status/1671237799041802240?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 20, 2023</a>
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<h2 class="wp-block-heading" id="strong-bitcoin-s-break-from-tech-stocks-strong"><strong>Bitcoin’s break from tech stocks</strong></h2> 
<p>BTC appears to be charting a different course, deviating from the usual trend of risk assets like tech stocks.</p> 
<p> You might also like: <a href="https://crypto.news/bitcoin-ordinals-nft-sold-for-7m-as-the-market-recovers/"> Bitcoin Ordinals NFT sold for $7m as the market recovers </a> </p> 
<p>Over the past seven days, BTC rallied 18% and is currently trading at $30,173 as of June 23. In contrast, the NASDAQ composite dropped by over 1% during the same timeframe.</p> 
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   <p lang="en" dir="ltr">JUST IN: “Nearly all FOMC participants expect it will be appropriate to raise interest rates somewhat further by the end of 2023” – Jerome Powell<br><br>NASDAQ reacts negatively to this quote, by falling -1.00%, while S&amp;P500 falls -0.26%, Dow Jones rises by +0.1% <a href="https://t.co/k3RQS757ke" target="_blank">pic.twitter.com/k3RQS757ke</a></p>— Gafar Investments (@gafar_invest) <a href="https://twitter.com/gafar_invest/status/1671557254774943746?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 21, 2023</a>
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<p>Bitcoin could experience a significant boost if an ETF is approved. The SEC has been hesitant to approve a bitcoin ETF, but&nbsp;<a href="https://crypto.news/blackrock-nears-bitcoin-etf-filing-partnering-with-coinbase-custody/">BlackRock</a>, Invesco, and&nbsp;<a href="https://crypto.news/asset-manager-wisdomtree-files-bitcoin-etf-application/">WisdomTree</a>&nbsp;are challenging this resistance. They have presented applications that include measures to prevent market manipulation. </p> 
<p>If these applications are approved, there could be a surge in institutional adoption of bitcoin thereby supporting prices.</p> 
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   <p lang="en" dir="ltr">87 billion dollar big Wisdom Tree is filing for a Bitcoin ETF! <br><br>Someone knows something we don’t. <br><br>4 massive assets managers apply for BTC ETFs in a week. <br><br>Wall Street has played the crypto market hard.</p>— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1671342769208455168?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 21, 2023</a>
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<h2 class="wp-block-heading" id="strong-analysts-are-bullish-but-cautious-strong"><strong>Analysts are bullish but cautious</strong></h2> 
<p>Crypto analysts on Twitter are divided amidst the surge. Crypto Rover has set an optimistic price target of $52,000, reflecting a bullish outlook on the market.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> Cup &amp; Handle<br><br>Different Approach, same price target.<br><br>Target: $52,000 <a href="https://t.co/ltb8Pn7bpW" target="_blank">pic.twitter.com/ltb8Pn7bpW</a></p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1671920230027739144?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 22, 2023</a>
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<p>Meanwhile, CryptoCon took a more cautious approach, suggesting a target of $38,000, signaling a potentially gradual price increase.</p> 
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   <p lang="en" dir="ltr">At $31,000, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> hit a hard wall on the volume profile…<br><br>But now that support has been made on a lower zone, the only logical thing to expect is a surge to the next area of resistance<br><br>The target: $38,000<br><br>Big things are coming to those that were patient for them! 📈 <a href="https://t.co/IWcmGyNULQ" target="_blank">pic.twitter.com/IWcmGyNULQ</a></p>— CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1671185661607419904?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 20, 2023</a>
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<p>Stockmoney Lizards anticipates a potential pre-halving target of $48,000 by April 2024.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> possible pre-halving target 48k (till April 2024). <a href="https://t.co/Ot7q1QCif4" target="_blank">pic.twitter.com/Ot7q1QCif4</a></p>— Stockmoney Lizards (@StockmoneyL) <a href="https://twitter.com/StockmoneyL/status/1670318326428454912?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 18, 2023</a>
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<p>Moreover, with this rebound, bitcoin appears to be nearing a golden cross event – a bullish market trend marked by the 50-day moving average crossing above the 200-day moving average.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> – Update<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> is about to make the first golden cross of the MA20/200. <br><br>This has NEVER happened before.🎯 <br><br>The death cross in Sep. 2022 happened just before the FTX-Crash. <br><br>Why do I have a feeling, we're going to see a big green candle soon? <a href="https://t.co/kbFB6GiomK" target="_blank">pic.twitter.com/kbFB6GiomK</a></p>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1671179681024835585?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 20, 2023</a>
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<p>This prediction contrasts sharply with the death cross witnessed in September 2022, which led to the&nbsp;<a href="https://crypto.news/ftx-incurs-over-120m-in-advisor-fees-as-bankruptcy-costs-mount/">FTX</a>&nbsp;crash.</p> 
<h2 class="wp-block-heading" id="eyes-on-the-btc-weekly-chart">Eyes on the BTC weekly chart</h2> 
<p>While the market seems firm and heading upward, traders and analysts advise caution. A crypto analyst, Rekt Capital believes that bitcoin’s recent breakout is a good sign. However, it must maintain a position above $27,500 for the upward trend to continue.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTC</a> has broken out beyond the multi-month downtrend (blue)<br><br>But can it perform a Weekly Close beyond this downtrend to fully confirm the breakout?<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> <a href="https://t.co/k0dnz1eMoe" target="_blank">pic.twitter.com/k0dnz1eMoe</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1671215487294767117?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 20, 2023</a>
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<p><br>Bitcoin’s weekly performance is being closely watched to confirm the sustainability of its recent breakout. Its ability to maintain $30,000 and the possibility of an ETF approval will greatly affect its future direction. </p> 
<p> Read more: <a href="https://crypto.news/sec-vs-coinbase-and-new-lawsuit-history-of-the-years-long-battle/"> SEC vs Coinbase and new lawsuit: history of the years-long battle </a> </p>

Bitcoin steadies above $30k, institutional interest fanning demand

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