Bitcoin
How will the market react?
Furrever Token
New York City, NY, May 20, 2024 (GLOBE NEWSWIRE) –
Investors are happy with this week as most cryptocurrencies rose during this period. Bitcoin rose an impressive 10%, and Ethereum followed suit with a 5% increase, signaling strong bullish sentiment across the market. In the midst of these gains, Furrever Token attracted significant attention with its promise of returns of up to 15X upon launch. As these developments unfold, the crypto community is abuzz with speculation about how the market will react to these exciting prospects.
Bitcoin Up 10% in 7 Days: Optimism Amid Market Momentum
Last week proved extremely bullish for cryptocurrencies after a prolonged period of uncertainty. Despite higher-than-expected Producer Price Index (PPI) data, US inflation in April was reported lower, offering relief to risk markets previously nervous due to fears of additional interest rate hikes from the Fed. Now, Attention turns to the next data releases, particularly on employment and other economic indicators, until the meeting on June 12th.
Labor market numbers are weakening, while the latest wage growth data has supported risk-on markets. Overall, with inflation numbers gradually easing over the past few months, the likelihood of further Fed tightening and a prolonged interest rate spike decreases.
On the spot Bitcoin ETFs front, this week’s data has been supportive of Bitcoin. We are now seeing inflows rather than outflows into the GBTC space, bringing the total value of the ETF above $12.4 billion. If we witness renewed flows into the IBIT and FBTC spaces totaling hundreds of millions of dollars, it could signal a more impressive resurgence, similar to the rapid rise witnessed through mid-March.
Ethereum’s 5% Rise Grabs Attention: Exciting Market Outlook and Potential Catalysts
Ethereum (ETH) is currently valued at approximately $3,098.41, showing a slight drop of 1.2% from yesterday while experiencing a notable increase of over 5% from the previous week. Despite Ethereum’s recent performance, it has lagged Bitcoin throughout 2024, indicated by the ETH/BTC ratio hitting a three-year low of 0.044. However, following Ethereum’s transition to proof-of-stake (the Merge), its correlation with Bitcoin witnessed a 45% decline, decreasing the likelihood of the long-awaited “inversion”.
However, despite encountering obstacles, market sentiment remains cautiously optimistic. Analyst Michael van de Poppe suggests that Ethereum is poised for an upward trajectory, especially amid adverse market conditions. Coinbase shares this positive outlook, emphasizing Ethereum’s minimal supply-side pressures and the potential approval of an Ethereum ETF in sight. Regulatory clarity, especially with regard to the SEC’s ETF decision, is of significant importance. While the initial rejection is plausible, Coinbase says legal action could reverse it.
The story continues
Approval of an Ethereum ETF in cash would mark a milestone, likely attracting greater institutional interest and investment in Ethereum, potentially driving up its price. The current ETH/BTC ratio, at its lowest level in three years, indicates growth potential if Ethereum closes the gap with Bitcoin. Overall, market sentiment demonstrates cautious optimism, with analysts anticipating Ethereum’s resilience, especially amid potential regulatory developments.
Furrever Token sparks excitement in the crypto industry
Amid the recent market swings seen in prominent cryptocurrencies such as Bitcoin and Ethereum, a new competitor has entered the scene, catching the attention of the crypto community due to its distinct allure and auspicious prospects. Furrever Token, characterized by its captivating feline-themed identity and intuitive interface, quickly attracted excitement and intrigue among investors and enthusiasts.
Furrever Token stands out in the crowded crypto space by offering an extravagant and soulful experience that goes beyond traditional use cases. Its mission to integrate cute cat-themed stickers, emojis, and visuals into its ecosystem has resonated with a wide audience, making crypto engaging and fun. This carefree approach, combined with solid fundamentals, has helped Furrever Token carve out a niche in the market.
Furrever Token’s tokenomics is strategically designed to ensure growth and stability. With a total supply of 9 billion tokens, 65% allocated to pre-sale, 25% to DEX allocation, and 10% to team allocation (locked for one year), the project demonstrates a commitment to security and longevity. The recent pre-sale success, raising over $1.1 million and reaching the final stages, highlights growing investor confidence.
Adding to the excitement is Furrever Token’s promise of returns of up to 15X, an attractive proposition for those looking to capitalize on new opportunities. The ongoing competition for highest total purchases of $20,000 further encourages participation, fostering a vibrant and engaged community. This competition ends on 27/05/24 at 12:00 UTC, giving investors a limited time to participate in the race for significant rewards.
With its current price of US$0.000648 and exclusive availability on its official website, furrevertoken. with, Furrever Token is poised to make a significant impact. As the crypto industry buzzes with anticipation, all eyes are on how this charming newcomer performs in the dynamic market landscape.
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Media Contact:
Robert Smith
https://furrevertoken.com/
support@furrevertoken.com
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice or trading advice. It is highly recommended that you practice due diligence, including consulting with a professional financial advisor, before investing or trading cryptocurrencies and securities.
CONTACT: Robert Smith support at furrevertoken.com
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.
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.
Bitcoin
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’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.
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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