Ethereum

Bitcoin

when

<ul> 
 <li><strong>Bitcoin price faces volatility, down 3.35% in the past 24H.</strong></li> 
 <li><strong>Ethereum ETF approval triggers market anticipation; historic parallels with Bitcoin ETFs</strong>.</li> 
</ul> 
<p>Bitcoin has experienced significant volatility over the past 24 hours, decreasing by 3.35%. After peaking at $70,041.27, the price eventually fell to $66,356.95. Three days ago, Bitcoin hit a monthly high of $71,979, but the bulls couldn’t maintain the momentum. Despite this, Bitcoin is up 2.30% over the past week, with trading volume increasing by 42%.</p> 
<p>Today marks a major event for the crypto market with the approval of Ethereum ETFs. This news has generated anticipation, similar to the reaction when Bitcoin ETFs were approved, causing market volatility. <a href="https://thenewscrypto.com/?s=ethereum" target="_blank" rel="noreferrer noopener">Ethereum</a> surged to its highest price since mid-March, exceeding $3,900 early Thursday, but then tumbled to near $3,700.</p> 
<p>For Bitcoin, analysts suggest it might need to bottom out below $56,000 before bouncing back for a historic bull run. Currently, it is 8.25% away from its all-time high (ATH).</p> 
<p>Additionally, the activity of “whales” (large BTC holders) is noteworthy. Reports of two dormant wallets, inactive for nearly 11 years, suddenly moving <a href="https://thenewscrypto.com/btc-price-dips-down-to-69k-on-bitcoin-pizza-day/" target="_blank" rel="noreferrer noopener">BTC</a> worth $60.9 million could spook market participants. This activity coincides with a drop in key on-chain <a href="https://x.com/santimentfeed" target="_blank" rel="noreferrer noopener nofollow">metrics</a>.</p> 
<h3 class="wp-block-heading" id="h-bitcoin-bears-to-take-over">Bitcoin Bears To Take Over?</h3> 
<p>Analyses of Bitcoin’s <a href="https://www.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3ABTCUSDT" target="_blank" rel="noreferrer noopener nofollow">price</a> movements indicate a bearish trend. The 9-day EMA is currently positioned below the trading price at $67,130. However, the daily relative strength index (RSI) suggests a neutral condition, standing at 53.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/OctILbnIySeEiG5Jv92zvHeCW476dQUukAYYK-YQ8SX-EcdMzmjqBh8Jz0ktzih0mKXpAj2LxxHUv4GOajchevy-A898d2JVJgmsFDUr2VJ36DaDYAeJKxe0cNLpElani-aJ1t3WA01RBNzg9r4lnGA" alt="">
  <figcaption class="wp-element-caption">
   BTC Price Chart, Source: TradingView
  </figcaption>
 </figure>
</div> 
<p>Should the bulls regain control, BTC might surge above $68,106 and potentially reach $73,877. Conversely, if the bears prevail, the price could drop to $60,380 and potentially further to $50,274.</p>

Should BTC Investors Prepare For a Dip Under $56K?

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