Ethereum

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-sues-metamask-shakes-crypto-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Sues MetaMask, Shakes Crypto Market</a><br></p>
<p style="text-align: justify">The price of <a href="https://en.bitcoinhaber.net/bitcoins-path-to-revival-indicators-point-towards-a-market-uptick" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has recently slumped to the $60,000 level, reflecting a tumultuous period for the leading cryptocurrency. With the price dipping below $60,400, investor confidence has been shaken, influenced by several unfavorable developments. The anticipated positive impact of the Ethereum ETF listing has once again been disrupted, this time due to a lawsuit filed by the SEC against MetaMask.</p>
<h2 id="current-market-conditions">Current Market Conditions</h2>
<p style="text-align: justify">The SEC’s lawsuit against MetaMask, a major Ethereum supporter, surprised many who expected post-ETF approval stability. Bitcoin remains in a wide trading range but faces bearish pressures. Contributing to this scenario are factors like Germany, the US Silk Road, and MTGOX returns, which threaten a phased sale of around $15 billion. Declining trading volumes further amplify the risk of significant sales.</p>
<p style="text-align: justify">Market sentiment <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that bulls are aware of the potential drop to $56,552. Recent data shows ETFs experiencing net outflows over the past few days. Furthermore, social sentiment around Bitcoin has deteriorated, failing to break the $73,777 mark. This fading enthusiasm might help in identifying the market’s bottom.</p>
<h2 id="bitcoin-btc-analysis">Bitcoin (BTC) Analysis</h2>
<p style="text-align: justify">Bitwise CIO Matt Hougan’s recent analysis predicts a net inflow of $15 billion for the ETH ETF in 18 months, which could positively affect the market. However, Bitcoin’s price struggles to stay above $62,500, hinting at a possible decline below $60,000. Until bulls can secure a close above $62,500, we can expect narrow-range trading to continue.</p>
<h2 id="key-market-insights">Key Market Insights</h2>
<p style="text-align: justify">– Expect significant movements if Bitcoin closes above $62,500 or below $60,000.<br> – The $56,552 support level is crucial; a break below it could target $50,000.<br> – Investors are already reducing risks in altcoins due to market volatility.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">In the latest dip, Bitcoin found substantial buyer interest at $58,500. However, the anticipated sales surge in July, potential ETF-related exits, and typically low summer trading volumes pose risks for bullish traders. A break below the $56,552 support could push the price down to $50,000, prompting many <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> to hedge their positions in altcoins.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-sues-metamask-shakes-crypto-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Sues MetaMask, Shakes Crypto Market</a></h5>

SEC Sues MetaMask, Shakes Crypto Market

Table of Contents

BH NEWS

Other articles published on Jun 28, 2024

Shiba Inu: 84% Drop in Key Metric Shocks Shibarium

Bolivia Lifts Bitcoin Ban A New Era for Crypto Transactions

The Top 5 Bullish Altcoins For 2024: Rollblock, Solana, Toncoin, AVAX, Bitcoin

Get Ready To Saddle Up: DigiHorse Empires Vs. FLOKI And PEPE – The Presale You Can’t Miss!

Miners Choose BlockDAG X1 App as 11.8B Coins Sell Rapidly, Over Aptos & Filecoin Due to Their Bea...

Chainlink Investors Hold Assets

Join our free newsletter for daily crypto updates!