BTC Price Analysis: This is the reason why BTC surged 15% in 4 days One of the main drivers of the recent pump in BTC is the expectation of the launch of the ETH ETF in the US next week. This development is expected to enhance institutional interest and confidence in the broader cryptocurrency market, indirectly benefiting BTC as the market leader. According to reports, the ETH ETF is expected to launch on July 23, with major asset management companies such as BlackRock and VanEck leading the way. With the approval of the Ethereum ETF by the Securities and Exchange Commission in the United States, the demand for BTC ETF has attracted more and more long positions in the past week. The chart above shows that during the market downturn on July 5th, the active BTC ETF currently holds a cumulative balance of 870,700 BTC. But as of July 16, the BTC ETF's holdings have reached 878,830 BTC. This means that in just the past 10 days, the BTC ETF has purchased an additional 8,100 BTC, worth about $515 million. This confirms the position: as the launch date of the ETH ETF approaches, the demand for BTC ETF is increasing. If this market trend continues in the next few days, the BTC price may continue to follow the current pump trajectory and reach $70,000. In addition, the positive transformation of the macroeconomic environment in the United States has also played a crucial role in the sustained pump of Bitcoin prices. The latest non-farm payroll data exceeded expectations, indicating a strong job market and a resilient economy. In addition, recent consumer price index (CPI) data shows that the inflation pump rate is slower than expected, easing concerns about the Fed's aggressive monetary tightening policy. Two indicators showing low inflation pressure indicate that the Fed may now be more likely to cut interest rates, which will create a favorable environment for risk assets such as BTC. The recent bullish trend of BTC is impressive, with prices reaching a peak of $65,007 on July 16, 2024. A pump of 15% in the past four days highlights the strong buying interest in BTC in the market. The technical indicator on the chart indicates that although BTC may experience some fluctuations, it may continue to pump. The Chande Momentum Oscillator (ChandeMO) has pumped significantly to 71.52, indicating a strong bullish momentum. This pump reflects increasing buying pressure and the pump trend may continue. The average true range (ATR) is 2,431.53, indicating an intensified Fluctuation, which is common during periods of violent price Fluctuation. This indicates that although BTC may face some Fluctuation, the overall trend is still bullish. In the current dynamics, the immediate support level is around $62,000, which has remained strong during the initial consolidation phase on Tuesday morning. This level is crucial for maintaining the bullish momentum. On the upside, the first resistance level is at $68,000, with the more significant resistance level at the psychological barrier of $70,000. Breaking through these resistance levels will pave the way for a new all-time high. Given the current market dynamics, the journey of BTC surging to $70,000 seems hopeful but not without challenges. Investors should closely follow the support level and pay attention to any signs of weakness. If BTC can maintain its momentum and break through the resistance level of $68,000, it is expected to reach $70,000. However, the rise in ATR indicates that there will be greater volatility in the future. (Data Source: IBRAHIM AJIBADE)

币界网报道:根据CryptoQuant的数据,Bit币短期持有者活动的最近激增表明可能会出现显著的价格波动。 持有一到終个月的投资者的已使用输出急剧增加,表明了增加的利润回吐活动。 However,像平均真实范围(ATR)和恰金波动性这样的关键波动性指标自4月19日以来显示下降,表明市场波动性减少。 布林带宽(BBW)也支持低波动性情景,暗示价格在一个狭窄范围内稳定运动。 尽管有这些指标,市场未来的波动性仍然不确定。 目前,Bit币的价格在过去七天内上涨了5%,交易价格为64,241美元。

Gate.io New Listing Overview (Mar 29 - Apr 4) 🥇 $PIGCOIN$ 2271% 🥈 $ATR$ 1248% 🥉 $MEW$ 906% 31 projects get listed on https://www.gate.io/trade Trade: http://gate.io/marketlist?tab=usdt #Crypto# #newlistings# #1000xGem# #GateioStartup# #Startup#

Why I think the current market phase is biased towards the end of the bear market (Part I) First of all, from the perspective of the trading volume of the spot weekly line, since March this year, the average trading volume of the weekly line has been running downward and gradually volume. The situation is very similar to the end of the bear market at the end of 18. Then there is volatility, and the percentage of ATR can be seen as a historical volatility indicator, which is currently showing a gradual downward trend and the value is close to the historical extreme. The implied volatility of options came out of a near new low in June and hit a record low in August. Historical volatility represents the past, implied volatility represents the future, and is the buyer's view of future market volatility in the options market. The phenomenon of low volatility has been shown both historically and in the future. Combined with the weekly performance of the land, this is why I think we are at the end of the bear market.

ETH Price Prediction: Is Traders Moving Ethereum at Heavy Loss Rate a Bullish Sign? ETH price rebounded from the $1,700 support after retracing from the $1,750 resistance. This week’s rise, while surprising to many, has been welcomed by the cryptocurrency community. Traders became impatient and were willing to sell their wallets at lower prices. If this plunge continues, it means prices may rebound. Investors suffered huge losses in the August sell-off, with Ethereum falling from higher support at $1,800 to $1,545. The capitulation of long positions being liquidated is expected to be the last as the crypto winter begins to usher in a bull run. According to on-chain analytics firm Santiment, ETH’s transaction loss rate spiked as traders showed frustration. This means wallets are “disposing of their tokens at lower prices,” suggesting a “price rally” is likely in the short term. For traders, understanding where and how to position after the sell-off is critical as they prepare for the expected bull run in 2024/2025. Since the immediate support at $1,700 may not hold for long if ETH price delays rising above $1,800, those looking to establish new long positions in Ethereum may want to consider the 200-day exponential moving average (EMA) Confluent support formed around $1,630) and rising trendline. Another buy signal from the Super Trend indicator observed on the chart suggests that bulls are in control. The Super Trend Indicator is a tool for cryptocurrency traders to spot trends and signals. It uses ATR and volatility to change color and direction. Green means buying Ethereum, red means selling. This indicator line also acts as a stop loss level. Given the super trend-tracking ETH price and converging support at $1,630, the path of least resistance must be to the upside. Investors should adopt strategies that allow them to change their strategies and consider the direction of the Money Flow Index (MFI) below the neutral zone midline and into oversold territory. This metric measures the volume of transactions flowing into and out of the Ethereum market. When it keeps falling, it sends a bearish signal, but when it rises above the overbought area above 80, it ensures an uptrend. Also, ETF futures were approved, which "suggests that their views/policies/tolerance may change," said ETF analyst Eric Balchunas. These approvals will be a game-changing event for the ethereum market and could provide liquidity for gains above $2,000 — a move ETH prices need to mark its bullish comeback. (Data source: John Isige)