Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Investors sound the alarm – BTC ETF approval can trigger a bullrun!

1 min read

Today in the crypto market has brought positive news again. In addition to Ethereum, which has grown sharply since the launch of the London Hard Fork, BTC also climbed upward. A series of new BTC ETF news has pushed BTC by 9%.

We are one step closer to approving the BTC ETF

We recently saw Gary Gesler, Chairman of the US Securities and Exchange Commission. He confirmed that several new ETF applications had been submitted. Investors consider this factor to be very important and hope that the expected approval is approaching.

Analyst Will Clemente commented on the current situation for BTC. On his chart we can see the performance of BTC from the past. The yellow line represents the resistance of the so-called “Dead cat” in 2017, we also see the support shown from January 2021 and the level below which the price fell during the May correction.

Top / bottom models for Bitcoin.  Source: Glassnode

“Currently, more than half of the total number of banks appear on the securities market. In my opinion, the key level will be the price of $ 54,000, which must be monitored for confirmation and rejection. “

The total market capitalization of cryptocurrencies currently stands at $ 1.662 trillion and the BTC dominance rate is 45.6%.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

Leave a Reply

Your email address will not be published. Required fields are marked *