Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-sees-major-volatility" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Sees Major Volatility</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-targets-new-highs-as-it-challenges-70000-barrier" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> is currently trading at $67,800, with a recent dip to $67,277 within the last 24 hours, showcasing its volatile nature. The main concern for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> has been the recent MTGOX transfers. However, no new statements have been issued regarding the binding nature of these distributions before the end of the year, leading to some anxiety-driven selling.</p>
<h2 id="qcp-analysts-crypto-commentary">QCP Analysts’ Crypto Commentary</h2>
<p style="text-align: justify">QCP Analysts, who closely track both macroeconomic and crypto-specific developments, anticipate a major breakout today and have thus increased their updates. For weeks, many experts have observed that Bitcoin’s price, constrained within a narrow range, is set for a significant movement. What specific points did QCP analysts highlight in their latest evaluation?</p>
<p style="text-align: justify">They noted that while awaiting the next phase of ETH spot ETF approval, the market has returned to a quieter state where Bitcoin trades between $60,000 and $70,000 to find balance. Despite the MTGOX wallet movements being in preparation for distribution, the market has shrugged this off. The persistently high spot-forward basis and perpetual funding suggest strong positioning, potentially indicating a downside risk.</p>
<h2 id="ethereum-prediction">Ethereum Prediction</h2>
<p style="text-align: justify">Ethereum hitting a new all-time high would significantly boost the entire altcoin market. This could lead to a capital shift from Bitcoin to altcoins, driven by a decrease in Bitcoin’s market dominance. However, the ETHBTC pair presents a major resistance to overcome for this scenario to unfold.</p>
<p style="text-align: justify">Currently, Ethereum is recovering from 0.0447 BTC and aims for the 0.0575 resistance level. The outlook remains bullish as long as it holds above 0.0558 BTC, with new targets emerging above 0.0603 BTC upon breaking the initial resistance.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors can derive actionable insights from the current market scenario:</p>
<ul>
 <li>Monitor Ethereum spot ETF S-1 Form approvals expected in the coming weeks.</li>
 <li>Be prepared for potential short-term sell-offs following ETF <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a>.</li>
 <li>Track the ETHBTC pair closely for signs of overcoming significant resistance levels.</li>
 <li>Understand the implications of high spot-forward basis and perpetual funding on market positioning.</li>
</ul>
<p style="text-align: justify">In conclusion, the cryptocurrency markets are at a pivotal point with potential for significant movements in both Bitcoin and Ethereum. Keeping a close eye on key indicators and market developments will be crucial for investors navigating this volatile landscape.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-sees-major-volatility" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Sees Major Volatility</a></h5>

Bitcoin Price Sees Major Volatility

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