Solana

Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-by-1-5-in-24-hours" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Climbs by 1.5% in 24 Hours</a><br></p>
<p style="text-align: justify">Bitcoin has experienced a modest increase in the past 24 hours, rising by approximately 1.5% to reach $61,700 as of June 28. This uptick comes in the wake of renewed inflows into Bitcoin exchange-traded funds (ETFs) and broader gains in the cryptocurrency market. The rise in Bitcoin’s value is also attributed to VanEck’s recent <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">application</a> for a <a href="https://en.bitcoinhaber.net/whale-moves-2-5-million-solana" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> ETF.</p>
<h2 id="why-is-bitcoin-increasing">Why is Bitcoin Increasing?</h2>
<p style="text-align: justify">The recent rise in Bitcoin follows three consecutive days of inflows into US-based Bitcoin ETF funds. This indicates a revived risk appetite after a week of outflows. As of June 27, these Bitcoin ETF funds managed assets worth $14.44 billion, up from $14.383 billion three days earlier. However, this is still below the peak of $15.68 billion on June 6.</p>
<h2 id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2>
<p style="text-align: justify">Bitcoin’s latest price movement is part of a volatile consolidation trend. This pattern is forming a pennant, which could indicate a further downtrend following Bitcoin’s previous downward movement. If the price breaks below the lower trendline, it could fall to $56,250, representing an 8.5% drop from current levels.</p>
<p style="text-align: justify">The breakout potential for Bitcoin is further heightened by two critical resistance levels: the 50 exponential moving average on the 4-hour chart (50-4 hour EMA) and the descending trendline. Both levels converge around $62,000, the upper trendline of the pennant. A decisive break above this resistance could invalidate the bearish pattern and push Bitcoin’s price towards $65,000, the 200 EMA on the 4-hour chart.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<ul>
 <li>Bitcoin’s 1.5% rise to $61,700 was influenced by ETF inflows and VanEck’s Solana ETF application.</li>
 <li>Current price trends suggest a possible downtrend to $56,250.</li>
 <li>Breaking above $62,000 resistance could propel Bitcoin to $65,000.</li>
</ul>
<p style="text-align: justify">These insights provide valuable information for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> considering Bitcoin’s near-term and potential movements.</p>
<p style="text-align: justify">In conclusion, while Bitcoin has shown a modest increase, the formation of a bearish pennant suggests potential for a further downtrend. However, breaking through critical resistance levels could see Bitcoin prices rally higher.</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-climbs-by-1-5-in-24-hours" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Climbs by 1.5% in 24 Hours</a></h5>

Bitcoin Climbs by 1.5% in 24 Hours

Зміст

BH NEWS

Інші статті, опубліковані 28 черв. 2024 р.

Bitcoin, Ethereum, Dogecoin Edge Higher As Market Cheers Solana Spot ETF Filing: Analyst Forecast...

5 DePin Coins to Add to Your Portfolio in July 2024️

Investors Rush to MoonBag Coin Following Presale Success, Interest in Pepe Coin and Arweave Wanes

Bitcoin and altcoins fail to rally even as US inflation cools down

US government wages full-out assault against non-custodial defi | Opinion

New ETF Combines Bitcoin and Gold, Offers 100% Leveraged Exposure

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!