Cryptocurrency

Bitcoin ETF

Spot

Cryptocurrency Price Analysis: The <a href="https://coingape.com/will-the-crypto-market-rally-continue-or-retreat-ahead/" rel="noopener noreferrer nofollow">cryptocurrency market</a> continues to ride an aggressive recovery mode led by a high momentum rally in Bitcoin. With an intraday gain of 3.15, the BTC price showcased its sustainability above $50000, which uplifted the altcoin market for further growth. The Bitcoin’s Fear &amp; Greed Index at 79% reflects an extreme greed sentiment from market participants.
This recovery is likely attributed to the increasing inflow in Spot Bitcoin ETF reflecting the increasing adoption of digits assets in the traditional market.&nbsp;
In a recent highlight from On Chain data tracker Lookonchain, the 8 Bitcoin ETFs collectively added 12,073 BTC ($590M) on Tuesday, while Grayscale experienced a minor decrease of 1,147 BTC ($56M). Notably, iShares (BlackRock’s subsidiary) made a significant addition of 7,497 BTC ($366.5M), while Fidelity contributed 3,039 BTC ($148.5M).
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Feb 13 Update:
 8 ETFs added 12,073 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($590M) today while <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> only decreased 1,147 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($56M).
 <a href="https://twitter.com/hashtag/iShares?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#iShares</a>(<a href="https://twitter.com/hashtag/Blackrock?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Blackrock</a>) added 7,497 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($366.5M) and <a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Fidelity</a> added 3,039 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($148.5M).<a href="https://t.co/LmnSl15KiW" rel="noopener noreferrer nofollow">https://t.co/LmnSl15KiW</a> <a href="https://t.co/uzK8Q5m8KK" rel="noopener noreferrer nofollow">pic.twitter.com/uzK8Q5m8KK</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1757430429026791932?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
If the demand pressure from Bitcoin ETF continues to persist, altcoins like Ethereum (ETH), Solana (SOL), and BLUR may provide suitable entry opportunities.&nbsp;
Also Read: Breaking: <a href="https://coingape.com/breaking-bitcoin-tops-51k-with-ethereum-surpassing-2-7k-heres-why/" rel="noopener noreferrer nofollow">Bitcoin Tops $51K With Ethereum Surpassing $2.7K, Here’s Why</a>
<h2 id="b-is-the-ethereum-price-rally-heading-to-3000-in-feb-b">Is the Ethereum Price Rally Heading to $3000 in Feb?</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/j/Jb7iwLZU.png" alt="BINANCE:ETHUSD Chart " width="1946" height="1105">
 <figcaption class="wp-caption-text">
 Ethereum Price| Tradingview
 </figcaption>
</figure>
The second largest cryptocurrency <a href="https://coingape.com/spot-ethereum-etf-how-will-bitcoin-aid-in-ethereum-price-rally/" rel="noopener noreferrer nofollow">Ethereum</a> is steadily rising in tandem with Bitcoin showcasing a 26% jump within three weeks. However, other than the broader market influence the ETH price has picked up additional momentum surrounding the development of Spot Ethereum ETF.
On February 12th, Franklin Templeton officially filed for an Ethereum exchange-traded fund (ETF), as revealed in a recent <a rel="noopener noreferrer nofollow" href="https://www.sec.gov/Archives/edgar/data/2011535/000113743924000573/fets1022024.htm">submission </a>to the Securities and Exchange Commission (SEC). This development adds them to a growing list of major players, including BlackRock, Fidelity, Ark, 21Shares, Grayscale, VanEck, Invesco, Galaxy, and Hashdex, all of whom have made similar applications in Q4 2023.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Van Eck, ARK, Hashdex, BlackRock, Fidelity, Grayscale, and Invesco have filed their Spot <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> ETF applications in Q4 2023.
 Franklin Templeton has joined the race and filed for a Spot Ethereum ETF.
 The rotation towards <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> is closer than we think.
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1757148579699859536?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 12, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
With an intraday gain of 4.3%, the <a href="https://coingape.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum price</a> pierced through the last swing high resistance of $2700, signaling the continuation of the recovery trend. If the breakout is sustainable, the ETH coin may rise to an overhead resistance of $3051, followed by $3275.
Also Read: <a href="https://coingape.com/ethereum-gas-fees-did-someone-pay-transaction-fee-of-42-eth/" rel="noopener noreferrer nofollow">Ethereum Gas Fees : Did Someone Pay Transaction Fee of 42 $ETH?</a>
<h2 id="b-here-s-why-solana-price-is-close-to-massive-breakout-b">Here’s Why Solana Price Is Close to Massive Breakout.</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/r/rdlDEADZ.png" alt="BINANCE:SOLUSDT Chart" width="1946" height="1105">
 <figcaption class="wp-caption-text">
 Solana Price| Tradingview
 </figcaption>
</figure>
Amid the broader market recovery, the <a href="https://coingape.com/price/solana/" rel="noopener noreferrer nofollow">Solana price</a> has experienced a notable resurgence, bouncing back from the 38.2% Fibonacci retracement level towards the end of January.
This positive momentum propelled the coin’s value by 47% over the span of three weeks, bringing its current trading price to $115. Further energizing this upward trajectory, Solana Mobile announced via its official X platform page that the new Solana smartphone garnered 100,000 preorders in under 30 days, showcasing the growing interest and confidence in blockchain technology across the market.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 100,000 preorders in less than 30 days <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;">
 We’re floored by the demand and truly grateful for the overwhelming support<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Now that we’ve hit this milestone, the Founder Window &amp; preorder price of $450 will close in 48 hours. Your chance to join is now!
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/nYR9apGGIT" rel="noopener noreferrer nofollow">https://t.co/nYR9apGGIT</a> <a href="https://t.co/9L224igXcL" rel="noopener noreferrer nofollow">pic.twitter.com/9L224igXcL</a>
 — Solana Mobile 2⃣ (@solanamobile) <a href="https://twitter.com/solanamobile/status/1757042126716592568?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 12, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
With a daily increase of 2.64%, the <a href="https://coingape.com/markets/solana-price-prediction-how-sol-could-swing-from-the-dips-after-a-bullish-week-above-104/" rel="noopener noreferrer nofollow">SOL</a> price is steadily advancing towards the cup and handle pattern’s neckline resistance at $124. Overcoming the pattern’s barrier, which has been in formation for over two years, could significantly alter the market’s landscape, setting Solana on a path to potentially reach a target of $250.
Also Read: <a href="https://coingape.com/markets/solana-price-prediction-as-pattern-sets-leap-to-134/" rel="noopener noreferrer nofollow">Solana Price Prediction As Bullish Pattern Sets Next Leap to $134</a>
<h2 id="b-flag-pattern-sets-blur-price-rally-to-1-b">Flag Pattern Sets BLUR Price Rally to $1</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/1/1azEe0ka.png" alt="BINANCE:BLURUSDT" width="1946" height="1105">
 <figcaption class="wp-caption-text">
 BLUR Price| Tradingview
 </figcaption>
</figure>
In the daily time frame chart, the BLUR token price shows the formation of a bullish <a href="https://coingape.com/education/bull-flag-pattern-in-crypto-meaning-and-how-to-identify/" rel="noopener noreferrer nofollow">Flag pattern</a>. This chart pattern acts as a period of consolidation for buyers to revive their strength for the higher rally.
On February 13th, the BLUR price gave a decisive breakout from the flag pattern’s key resistance trendline, signaling the continuation of the recovery trendline. The 8.9% jump today with a notable volume spike provides a suitable follow-up to the recent breakout.
Under the influence of this chart pattern, the BLUR is set to chase two potential targets of $0.815, and $1.
However, the recovery won’t be unidirectional as the coin price may enter temporary correction after hitting overhead resistance at $0.735 and $0.905.
Related Article: <a href="https://coingape.com/crypto-prices-today-bitcoin-sustains-49k-pepe-xrp-dip-as-pyth-rallies-15/" rel="noopener noreferrer nofollow">Crypto Prices Today: Bitcoin Sustains 49K, PEPE &amp; XRP Dip As PYTH Rallies 15%</a>
The post <a href="https://coingape.com/markets/cryptocurrency-price-analysis-today-february-14-eth-sol-blur/" rel="noopener noreferrer nofollow">Cryptocurrency Price Analysis for February 14: ETH, SOL, BLUR</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Cryptocurrency Price Analysis for February 14: ETH, SOL, BLUR

Table of Contents

Coingape News Media

Outros artigos publicados em 14 de fev. de 2024

Crypto Fear and Greed Index Reached Its Highest Level in the Last Three Years!

Top Analysts Predict the Rise of a New $0.01 Cryptocurrency to Match Polygon (MATIC) Success

Craig Wright can’t name a single person who got BTC gifts from Satoshi

Bitcoin Mining Stocks Surge as Market Sentiment Improves

Cop allegedly stole 81 bitcoin from drug dealer’s Trezor wallet

XRP Ledger Surges in Token Market Value and Network Activity

Join our free newsletter for daily crypto updates!