Bitcoin (BTC) continued its bullish trend on July 4th, surging past the $31,000 level and edging closer to a new one-year high. The cryptocurrency had started the week on a low note, dropping to $30,586.51, but quickly regained its upward momentum and reached an intraday high of $31,375.61. This marks the strongest point for BTC since June last year, and it appears that the bullish sentiment surrounding the crypto market is still present. However, BTC’s momentum has since slowed down, and its relative strength index (RSI) has collided with a resistance level of 70.00. The index is now tracking at 68.43 and appears to be heading for a support point at the 66.00 mark. If BTC reaches this point, it could trade around the $30,500 level, although this is not a certainty. It’s worth noting that BTC’s price has been volatile in recent months, and sudden price movements can occur. On the other hand, Ethereum (ETH) experienced some fluctuations on July 5th, consolidating after reaching $2,000 on Monday. ETH/USD dropped to a bottom at $1,949.15 earlier in the day but has since rebounded and is once again approaching a multi-month high. Breaking through a resistance level at the 64.00 zone will be crucial for ETH bulls to reach this point, and the current RSI reading of 62.59 suggests that this could be possible. If successful, some analysts believe that ETH could return to its April 19th high of above $2,100 in the coming weeks. The crypto market is still showing signs of bullish sentiment, although volatility remains a factor to consider. Traders and investors should continue to closely monitor the market and make informed decisions based on their risk tolerance and investment goals. Source: Bitcoin.com

Based on key technical indicators, there is a strong case for Ethereum’s price to rally up to $2,200. The price of Ethereum has been experiencing a steady climb and is currently trading above $1,940 against the US Dollar. If it manages to clear the crucial resistance zone at $2,000, it could surge by 5%-8%. The hourly chart shows a connecting bullish trend line forming with support near $1,945, and the price is trading above the 100-hourly Simple Moving Average. These are positive signs that suggest that the price of Ethereum is likely to continue its upward trend. However, if the price fails to clear the resistance levels, it could start a downside correction. The initial support level is near the $1,950 mark, followed by the trend line zone. The next significant support is near the $1,930 level, which is close to the 50% Fibonacci retracement level of the recent increase from the $1,889 swing low to the $1,974 high, as well as the 100-hourly Simple Moving Average. If the price of Ethereum drops below the $1,930 level, it could potentially fall towards the $1,900 mark. Any further losses may send the price towards the $1,880 support level. In summary, the technical indicators for Ethereum suggest that the price is likely to continue its upward trend and potentially rally up to $2,200, but there is also a possibility of a downside correction if it fails to clear the resistance levels. Source: NEWSBTC

Venture capitalist Tim Draper has adjusted his predicted timeframe for Bitcoin’s price to reach $250,000. While Draper maintains his optimistic outlook that the world’s largest cryptocurrency will eventually reach his predicted price target, he now acknowledges that it may take longer than he initially thought. Draper had previously forecasted that Bitcoin would hit $250,000 by the end of 2022, but with BTC ending June 2023 below $31,000, he extended his prediction to mid-2023. However, with Bitcoin’s price still below his target, Draper now believes that it could take until the end of June 2025 for Bitcoin to reach the $250,000 price point. Despite concerns about cryptocurrency regulation, Draper remains positive about Bitcoin’s future. He believes that the adoption of Bitcoin by women will cause its price to surpass his original estimate. Draper has also criticized the US Securities and Exchange Commission’s enforcement-focused approach to regulating the crypto industry. He believes that this approach is driving innovators out of the country and that regulation by enforcement is a poor policy that makes no sense. While Draper’s revised prediction may disappoint some Bitcoin investors, it is worth noting that forecasting future cryptocurrency prices is a challenging task. The cryptocurrency market is volatile and unpredictable, with many factors affecting its value, including regulatory changes, market sentiment, and geopolitical events. Therefore, investors should always exercise caution and conduct thorough research before making any investment decisions. Source: Bitcoin.com

Bitcoin is currently facing a significant challenge as it struggles to surpass the $31,000 resistance level. The price is trading below $30,500 and the 100 hourly Simple Moving Average, indicating that the bears may have the upper hand in the short term. There is also a key declining channel forming with resistance near $30,200 on the hourly chart of the BTC/USD pair. If the price fails to clear the immediate resistance near the $30,200 level, it could continue to move down. Immediate support on the downside is near the $30,000 level, followed by the next major support near $29,850. A breakdown below these levels could send the price towards the $29,550 support or even lower towards $29,000 in the near future. Despite the recent attempts to break above the $31,000 resistance level, Bitcoin’s price has remained in a major consolidation range below this level. A high was formed near $31,008 before there was a fresh decline, indicating that the bears are still in control. However, if there is an upside break above the $31,000 resistance level, it could send BTC towards $31,500. Any further gains could open the doors for a move towards the $32,200 resistance zone. In summary, Bitcoin is currently consolidating below the $31,000 resistance zone, and its price could correct lower towards the $29,550 support or even $29,000 if it stays below $31,000 for an extended period. Immediate resistance is near the $30,200 level, followed by the $30,420 level or the 100 hourly SMA. Traders will be closely monitoring the price action around these levels to gain insights into Bitcoin’s short-term direction. Source: NEWSBTC

Bitcoin Cash (BCH) reached a one-year high on Tuesday, following its recent listing on the newly formed exchange, EDX. The token has continued to rise as traders buy it, and the exchange, which is backed by Citadel, Sequoia Capital, and Fidelity, added BCH to its offering, along with Litecoin. BCH/USD rose nearly 18% to its strongest point since May 2022, hitting an intraday peak of $236.64. The surge in BCH appears to be related to a breakout above a ceiling at 80.00 on the relative strength index (RSI), which is deep in overbought territory, with the index now tracking at 82.55. This bullish momentum comes as the price of BCH has risen by 120% in the last seven days. However, bears are likely to be circling the token, anticipating a potential change in direction in the coming days. Litecoin (LTC) was also listed on the EDX platform, but prices did not rise to the extent of BCH. LTC/USD climbed to a peak of $89.90 earlier in the day, snapping a three-day losing streak. The 10-day moving average rose above its 25-day counterpart, signaling bullish momentum. However, a breakout of an upcoming ceiling at 58.00 on the RSI will need to occur for this to truly materialize. As of writing, price strength is now tracking at 56.30. The recent rally in EDX markets seems to have intensified, with more investors showing interest in cryptocurrencies. The surge in BCH and LTC prices comes amid a broader cryptocurrency market rally, with Bitcoin and Ethereum also showing gains. Meanwhile, the cryptocurrency market continues to face regulatory scrutiny, with some governments imposing new rules on the industry, while others are more open to the idea of cryptocurrencies. Despite the regulatory challenges, the cryptocurrency market seems to be gaining more acceptance among investors, with more institutional investors entering the space. Source: Bitcoin.com

Bitcoin, the largest cryptocurrency by market capitalization, is currently trading above $30,000, and investors are eagerly anticipating a strong July. Historical data from the past three years show that BTC has gained at least 20% in July, making it an attractive investment for those looking to add a crypto asset to their portfolio. However, the price of bitcoin heading into the expiry of options contracts on Friday, June 30, will be a determining factor in whether the cryptocurrency rallies further or experiences a decline. Dealers may buy bitcoin in the spot and futures markets if it builds momentum above $30,000, which could result in an exaggerated price rally, also known as a gamma squeeze or sling-shot effect. On the flip side, dealers will be forced to sell on a potential decline below $30,000. Markus Thielen, the head of research for crypto service provider Matrixport, predicts that Bitcoin could reach $33,000 to $36,000 by August. Thielen notes that Bitcoin has followed a pattern this year of rising about $10,000 before falling $5,000. After the US banking crisis in March, BTC sank to $20,000 after reaching as high as $25,000. Then, following this month’s SEC lawsuits against crypto exchanges Binance and Coinbase, it dropped to $25,000 from $30,000. Thielen added that BTC’s strongest rallies have occurred during US trading hours, indicating that US institutions are buying Bitcoin while other regions are less active. Despite the recent spot bitcoin filings by BlackRock and other financial giants, SEC approval for a Bitcoin ETF is likely to be months away, if not longer. Investors remain cautiously optimistic, however, as other asset managers are filing their own ETFs, indicating that access to the asset class is becoming more widespread. Other major cryptocurrencies, such as Ether, the second-largest crypto in market value, are currently in the red. In contrast, Bitcoin Cash has risen nearly 16% to reach a fresh one-year high. BCH, which forked from the original Bitcoin blockchain, extended its rally to more than 100% in the week after being one of the four cryptocurrencies listed on institutional-backed crypto exchange EDX Markets. Overall, while the recent momentum from multiple spot Bitcoin filings by BlackRock and other financial giants sent the asset higher, investors are now addressing the realities that any SEC approval for a Bitcoin ETF is likely to be months away, if not longer, and that macroeconomic indicators remain uncertain. Source: CoinDesk

Over the course of just 48 hours, the cryptocurrency market experienced a significant surge in value, increasing by $30 billion to reach a total value of $1.24 trillion as of June 25th. This represents a 0.4% increase in the past day alone, with Bitcoin and Ethereum leading the way in terms of gains. Bitcoin has seen a 15.7% increase in the past week, while Ethereum has risen over 10.4% against the US dollar.  Among the cryptocurrencies that have seen significant gains over the past week, bitcoin cash stands out with an impressive 88.2% increase. This makes it the cryptocurrency with the highest weekly gain and places it in the sixth-highest trade volume position with approximately $1.31 billion in transactions over the last day. Other notable gainers include Cardano, Pepe, Aave, Bitcoinsv (BSV), kava, and synthetix (SNX). However, some cryptocurrencies have experienced losses over the past week, ranging from 1.2% to 6.8%. These include XAUT, PAXG, KCS, RPL, BNB, and BTT. Despite these losses, the global crypto trade volume reached $38.62 billion in the past day, with Stablecoins accounting for $24 billion of this total. The cryptocurrency market has seen a significant increase in value in just 48 hours, with bitcoin cash leading the way in terms of gains. The market is constantly fluctuating, and while some cryptocurrencies have seen gains, others have incurred losses. It remains to be seen how these trends will continue in the future. Source: Bitcoin.com

Bitcoin has recently reached a one-year high, trading above $30k, which is a significant milestone for the cryptocurrency. This has led many to speculate about the reasons behind its sudden surge. Interestingly, Bitcoin has continued to rise even as the US dollar has strengthened against other fiat currencies, which is highly unusual. Despite the strengthening of the US dollar, Bitcoin has remained resilient and continued to climb higher. For example, the EUR/USD exchange rate dropped from 1.10 to 1.0850 on news that the European PMIs weakened more than the market expected, while the GBP/USD dropped on weak UK data. All in all, while the dollar strengthened last week, it did not gain against Bitcoin. So, what is driving the Bitcoin price higher? By now, it is clear that the dollar’s weakness did not drive the move higher. Therefore, something else must be the cause of this bullish breakout. Two possible explanations exist. The first is related to BlackRock, the American multinational investment company, which is one of the largest in the world. News recently surfaced that the company submitted an application for a spot Bitcoin ETF designed to track the underlying market price of Bitcoin. This has led some to speculate that BlackRock might know something in advance, and this has created a buzz in the market. If BlackRock does launch a Bitcoin ETF, it could have a significant impact on the cryptocurrency market and drive-up demand for Bitcoin. The second explanation is related to recent SEC lawsuits, which have created more transparency in the cryptocurrency industry. This increased transparency may be building trust among investors, making them more likely to invest in Bitcoin and other cryptocurrencies. A more transparent industry should be a positive for crypto investors, and this may be driving up demand for Bitcoin, as investors seek to capitalize on the potential returns offered by the cryptocurrency. Despite the US dollar’s strength against other currencies, Bitcoin has continued to rise, which is a positive sign for those who believe in the long-term potential of the cryptocurrency. However, it is worth noting that the verdicts on Binance and Coinbase could impact the cryptocurrency market in unpredictable ways. It is important to be cautious and do your research before making any investment decisions in the cryptocurrency market. Source: Coin Journal

Bitcoin, the world’s leading cryptocurrency, has recently shown a significant bullish signal that has caught the attention of traders and investors alike. The moving average convergence divergence (MACD), a widely used momentum indicator, has crossed into bullish territory for the first time since late 2021. This is a key signal that suggests potential positive price momentum in the near future, and it could be an opportune time for buyers to enter the market. The MACD is a trend-following indicator that illustrates the relationship between two moving averages of an asset’s price. It consists of the MACD line and the signal line. The MACD line is obtained by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA, while the signal line is a 9-day EMA of the MACD line. When the MACD line crosses above the signal line, it is considered a bullish signal, indicating that it might be a good time to buy. Conversely, a bearish signal is given when the MACD line crosses below the signal line, suggesting that it might be a good time to sell. In Bitcoin’s case, the recent MACD crossover into bullish territory is seen as an indication of potential positive price momentum in the near future. This, coupled with the surge in Bitcoin’s value past the $30,000 mark, is attributed to the excitement surrounding a slew of exchange-traded fund (ETF) filings from major firms like BlackRock and Invesco. However, it is important to note that the MACD indicator should be used in conjunction with other analysis techniques to confirm signals and avoid false positives. The recent bullish signal from Bitcoin’s MACD has sparked optimism among traders and investors, suggesting that the cryptocurrency may be on the brink of a significant rally. As always, caution and thorough analysis are recommended before making any investment decisions. Source: U.Today

Over the past week, the price of Dogecoin (DOGE) has experienced a rollercoaster ride as it struggled to break through the significant resistance level of $0.063, leaving investors uncertain about its future. However, there is a glimmer of hope as DOGE has managed to rebound from the support trendline of a channel pattern, sparking renewed interest and increasing accumulation pressure among investors. The current trading price of DOGE on CoinGecko is $0.00000812, showcasing a decent 9.5% surge within the past 24 hours. Additionally, over the span of the previous seven days, DOGE has witnessed an impressive gain of 23.1%. This surge in price indicates a significant breakthrough for buyers as they successfully breach the nearest significant resistance level of $0.063. With sustained buying pressure, there is potential for the price to reach the $0.095 mark. While the ideal target for this pattern remains at $0.095, buyers may encounter in-between resistance levels on their upward journey. The first hurdle they may face is at $0.075, followed by another resistance level at $0.083. These points will require sustained buying momentum to overcome. On the whole, the global financial landscape is currently experiencing a momentous transformation, characterized by the entry of prominent institutional investors into the realm of cryptocurrencies. BlackRock, the largest asset manager worldwide, has taken a significant stride forward by formally submitting an application for a Bitcoin exchange-traded fund (ETF). Deutsche Bank, a prominent financial institution, has also recently filed for a crypto custody license, signaling its intent to engage with digital assets. WisdomTree, a respected asset manager, has also entered the scene with its own filing for a Bitcoin ETF, further demonstrating the industry’s evolving landscape. These recent advancements have not only attracted attention but have translated into a substantial influx of capital into the crypto market. Within the span of just one week, specifically as of June 22, an impressive $177 billion has poured into the crypto market, according to TradingView data. This significant surge in capital showcases the increasing confidence and interest of institutional investors in cryptocurrencies as they recognize the potential for substantial returns and diversification opportunities.  Overall, the recent surge in DOGE price marks a potential turning point and the first positive signal of recovery for the meme coin. With the broader market sentiment displaying signs of improvement, there is hope that DOGE’s breakthrough could mark the beginning of a new bullish trend. Source: Cryptopanic