Bitcoin

Bitcoin Price Prediction as BTC Falls After ETH ETF Approval – Here’s the Next Level to Watch

Published

8 months ago

25 May, 2024

SatoshiTimes Staff

Last updated: May 25, 2024 06:13 EDT | 4 minutes of reading

Bitcoin Price Prediction

As Bitcoin falls following SEC approval of ether ETFs, market analysts are closely monitoring the next key levels. The Bitcoin price prediction indicates a potential uptrend, with BTC/USD currently trading at $69,042.

This update explores key support and resistance levels, providing insights into Bitcoin’s future movements amid the changing regulatory landscape.

SEC approves rule change for Ether ETFs

The SEC approved a rule change to allow the creation of exchange-traded funds (ETFs) that invest in ether, one of the largest cryptocurrencies. This decision follows the recent success of bitcoin ETFs, which have seen net inflows exceeding $12 billion. The approval comes at the right time, aligning with the SEC’s deadline for the VanEck Ethereum ETF decision.

The SEC on Thursday approved a rule change that would clear the way for buy-and-hold ETFs #ether.$ETH https://t.co/qgBajWyMLb pic.twitter.com/IE0PGKNceA

-Neil Sethi (@neilksethi) May 23, 2024

Companies that sponsor bitcoin ETFs, such as BlackRock, Bitwise, and Galaxy Digital, are also beginning the process of launching ether ETFs. However, the SEC’s rule change does not guarantee immediate launches, as it only approves exchanges’ requests to list eight different Ether funds. Actual release dates remain unclear.

Key points:

Ether prices rose 2% following the SEC decision, following a 20% increase earlier in the week.
The SEC order approves the listing of eight Ether funds, but does not set launch dates.
Initial ether ETFs are expected to be smaller than bitcoin ETFs, with the Grayscale Ethereum Trust holding around $11 billion in assets.

The approval suggests a potential easing of the SEC’s stance on cryptocurrencies, especially following the agency’s loss in a lawsuit against Grayscale in 2023. This legal outcome paved the way for the approval of bitcoin ETFs and now ether ETFs . Despite this progress, the SEC’s regulatory approach toward cryptocurrencies remains under political scrutiny.

Ether, the second-largest cryptocurrency, underpins the Ethereum network, which facilitates decentralized finance (DeFi) projects, non-fungible tokens (NFTs), and asset tokenization. However, new ether ETFs in the US may exclude staking, as the SEC views staking-as-a-service offerings as unregistered securities. This exclusion could reduce the attractiveness of ether ETFs compared to bitcoin ETFs.

Richard Kerr of K&L Gates highlighted that the approval does not apply to other crypto projects on the Ethereum network. Steven Lubka of Swan Bitcoin pointed out that ether ETFs may experience lower demand due to structural differences such as a lack of staking options.

The approval of ether ETFs marks a notable development in the regulatory landscape for cryptocurrencies, signifying the increasing integration of digital assets into mainstream financial products.

Bitcoin Price Prediction

Bitcoin (BTC/USD) is trading at $69,042, showing a modest increase of 0.45% signaling a rally Bitcoin Price Prediction. The pivot point, marked by the green line, is at $68,514, serving as a crucial level for the direction of the trend. Immediate resistance levels are seen at $70,029, followed by $71,458 and $73,299.

On the downside, support levels are at $66,394, $64,947, and $63,490. The Relative Strength Index (RSI) is at 48.93, indicating neutral momentum, while the 50-day Exponential Moving Average (EMA) is at $67,860, providing significant support.

Bitcoin Price Prediction

The price is reinforced by an ascending trendline near the $69,000 level. The formation of a series of doji candles above this level suggests possible buying trends above $68,500.

Both the RSI and EMA support the likelihood of a continued uptrend. Traders should watch for a break above immediate resistance at $70,029 to confirm further upward movement.

Exciting New AI Meme Coin Wiener AI – Can It Outperform?

The fun new sausage dog-themed meme coin, Wiener AI (WAI), is more than just a novelty. Offers advanced features AI-Based Trading Toolsadding substantial utility beyond its playful exterior.

With investors already investing $2,880,453 in the WAI pre-sale, this early demand signals strong interest in the new meme coin.

In today’s market, AI is a hot topic, especially after Nvidia’s impressive earnings. This trend is expected to further increase the demand for WAI.

WAI not only comes with AI utility but also offers a great opportunity to earn passive income. Twenty percent of the total supply is allocated to staking rewards, offering investors a remarkable 396% APY, according to the project’s official website.

At this rate, investors can potentially double their initial presale investment in just a few months.

🌭SPOT ETH ETF APPROVED!🌭

All Wieners rejoice!! 😀

This is GREAT NEWS for $WAI pic.twitter.com/F7ezY6xQNC

-WienerAI (@WienerDogAI) May 23, 2024

Crypto experts are eagerly buying this exciting AI cryptocurrency. Michael Wrubel, a widely followed crypto analyst with over 312,000 YouTube subscribers, rates WAI as one of the top cryptocurrencies for 2024.

Interested investors need to act quickly as WAI’s price will increase when the pre-sale reaches $3 million. The current price is $0.00071, giving WAI a market cap of less than $50 million. If WAI achieves market leadership, early investors could realize significant gains, with the potential for returns of 100x or more.

Buy Wiener AI here

Disclaimer: the text above is an advertising article that is not part of the Cryptonews. with editorial content.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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