Bitcoin
Bitcoin (BTC) News Today: How US BTC-Spot ETF Inflows Cushion Downside
However, ethereal (ETH) bucked the broader market trend, gaining 0.11% to end the session at $3,682. Investors’ persistent hope that the SEC would approve S-1 forms to allow the launch of ETH spot ETFs supported buyer appetite for ETH.
Technical analysis
Bitcoin Analysis
Bitcoin hovered above the 50 days and 200 days EMAaffirming the signs of rising prices.
A BTC breakout above $70,000 could give bulls a run at Friday’s (June 7) high of $71,992. A return to $71,992 would support a move towards the all-time high of $73,808.
Talk related to the US BTC spot ETF market, SEC activity, and investor bets on a Fed rate cut in September need to be considered.
On the other hand, a BTC drop below the $69,000 support level could signal a drop to the 50-day EMA.
With a 14-day RSI reading of 55.61, BTC could rise to an all-time high of $73,808 before entering overbought territory.