Ethereum

Bitcoin

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-hits-70000-after-struggle" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Hits $70,000 After Struggle</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-etf-decision-looms-as-market-signals-mixed-messages" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has broken through the significant $70,000 mark on May 27, following a challenging three-day period, showcasing that the bulls are effectively in control. Despite this progress, certain analysts remain skeptical about a sustained breakout in the short term. Rekt Capital, a well-known analyst, pointed out that Bitcoin’s post-halving reaccumulation phase generally spans 160 days, suggesting that the cryptocurrency might remain stagnant for several weeks.</p>
<h2 id="what-does-ethereum-s-future-hold">What Does Ethereum’s Future Hold?</h2>
<p style="text-align: justify">Meanwhile, Bitcoin’s subdued performance has shifted the spotlight to Ethereum, bolstered by the approval of spot Ethereum exchange-traded funds. A number of analysts are optimistic about Ethereum’s potential rise. Arthur Cheong, founder of DeFiance Capital, voiced his prediction on X, asserting that Ethereum could climb to $4,500 ahead of the spot ETF funds launch.</p>
<p style="text-align: justify">On May 24, Bitcoin climbed to its 20-day EMA average of $66,798 and eventually surpassed $70,000 on May 27. This move suggests that bulls are trying to solidify their position. The BTC/USDT pair may advance toward a critical resistance at $73,777.</p>
<h2 id="how-will-ethereum-react-to-market-forces">How Will Ethereum React to Market Forces?</h2>
<p style="text-align: justify">Ethereum’s price ascended from $3,730 on May 26, indicating that bulls have established this level as a support zone. The goal now is to maintain a price above $3,950. Success in this endeavor could propel the ETH/USDT pair towards a robust resistance at $4,100, and overcoming this barrier could see the pair surge to $4,868.</p>
<h2 id="key-market-insights">Key Market Insights</h2>
<p style="text-align: justify">Here are some actionable insights for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>:</p>
<ul>
 <li>Bitcoin has the potential to target the $80,000 to $84,000 range if it breaks past $73,777.</li>
 <li>A failure to breach the resistance could see Bitcoin fluctuating between $59,600 and $73,777.</li>
 <li>Ethereum’s price stability above $3,950 could pave the way for advances up to $4,868.</li>
 <li>A decline below $3,730 could pull Ethereum back to its 20-day EMA average of $3,455.</li>
 <li>The launch of Ethereum ETF funds could reduce Ethereum’s circulating supply, possibly driving up its price.</li>
</ul>
<p style="text-align: justify">If the bears aim to halt this rise, they must drive the price below the breakout level of $3,730, potentially initiating a drop to $3,455, which is expected to act as strong support. Should the price rebound from this level, bulls may attempt another push to $4,100. The forthcoming launch of ETF funds in the Ethereum domain is expected to reduce its circulating supply, thereby elevating its price. This scenario might also create a bullish trend for various altcoins, particularly Ethereum.</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-hits-70000-after-struggle" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Hits $70,000 After Struggle</a></h5>

Bitcoin Hits $70,000 After Struggle

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