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Cryptocurrency Markets Remain Active – Türkiye Today
Cryptocurrency markets continue to see movement this week, with selling pressure resurfacing over the past 24 hours following a rebound in buying activity. Bitcoin surged to nearly $59,500 on Wednesday, while Ethereum tested the $3,150 mark.
BTC and ETH prices on July 11
Bitcoin is looking for stability around $57,800 this morning, marking a decline of about 3% from Wednesday’s highs. Ethereum, on the other hand, is trading near $3,090, showing a decline of 2% from its peak as it awaits ETF approval in the United States.
| Bitcoin (BTC) | $57,800 | -3% | $58,900 | Support: $57,000, Resistance: $59,500 |
| Ethereum (ETH) | $3,090 | -2% | $3,120 | Support: $3,000, Resistance: $3,150 |
Meaning of 200 Day Moving Average
Bitcoin’s 200-day moving average is $58,900 and Ethereum’s is $3,120, providing crucial signals for price trends. These levels are critical in determining market sentiment and potential price movements.
Bitcoin Goals and Expectations 2024
Despite a slowdown in upward momentum, Bitcoin has not faced significant selling pressure. The $57,000 level has emerged as a key support, with resistance seen near $59,500 in the near term.
Beware of Mt. Gox and ETFs
BTC ETFs have seen inflows this week, but analysts are warning of potential sell-offs from Mt. Gox and German miners, which could accelerate the sell-off if the $56,500 support level is breached.