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

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