Bitcoin
Regulatory impacts and rise of Furrever Token (FURR) amid ups and downs
Furrever Token
New York City, NY, May 20, 2024 (GLOBE NEWSWIRE) –
In a dynamic period for cryptocurrencies, Bitcoin aims for significant milestone, Ethereum faces regulatory hurdles and Furrever Token leverages unique community commitments to challenge market crises. This article investigates the intricate fluctuations of these digital assets and the external influences that shape their trajectories.
Bitcoin aims for US$70,000: market dynamics signal potential for breakout above US$67,000
The price of Bitcoin has seen an impressive rise, rising 10% last week and surpassing the $67,000 mark, signaling possible changes in the market structure. This increase comes amid a series of economic events and growing interest in Bitcoin, especially evident with recent increases in ETF investments. As the market heads into the weekend driven by positive sentiment, Bitcoin has not only breached the $67,000 threshold but also influenced a broader market uptrend as the crypto’s global market capitalization rises. to US$2.43 trillion.
The market saw significant liquidations, with more than $120 million wiped out, including $83 million in short positions and nearly $40 million in long positions. This was in addition to $2.1 billion worth of Bitcoin and Ethereum options expiring, increasing market volatility. These expiries affect market sentiment as traders adjust their positions, potentially leading to increased volatility.
As Bitcoin hovers above $67,000, it shows signs of establishing a new market structure. Technical indicators such as the Relative Strength Index (RSI) and the Awesome Oscillator (AO) suggest growing buyer momentum, with the AO moving into positive territory. If Bitcoin manages a stable close above $67,206, it could pave the way for a continued rise towards the $70,000 mark and potentially retest its all-time high of $73,777.
Conversely, any pullback from this level could see Bitcoin fall to support levels around $63,354 or even $56,000, marking a 16% decline from current levels. This pivotal moment in Bitcoin trading could define its trajectory for the coming months, making it a critical wake-up call for investors and traders.
Ethereum Eyes Rally as SEC ETF Decision Looms
Ethereum (ETH) is currently trading at approximately $2,950.80, experiencing a small drop of 0.5% since yesterday. The market is primed for a potential move higher this Wednesday after a five-day stagnation. This anticipated increase is fueled by ongoing conversations surrounding a decline in Mainnet revenue and the Securities and Exchange Commission’s (SEC) ruling on spot ETH ETFs.
The story continues
As the critical May 23 deadline for the SEC to evaluate VanEck’s cash ETF application approaches, opinions among analysts are mixed. Nate Geraci, president of ETF Store, argues that the SEC may find it difficult to reject the request given its prior approvals of ETH futures ETFs. However, there is also speculation that the SEC may deny the request, in part due to ongoing investigations into Ethereum’s classification as a security.
Documents from ConsenSys revealed that the SEC began investigating the status of Ethereum as early as April 2023, despite having given the green light to ETH futures ETFs in September, highlighting the complex regulatory environment that Ethereum navigates.
Ethereum is struggling to surpass the $3,000 mark, with key resistance seen at $3,103 and $3,161. Overcoming these barriers may prove difficult given the current lackluster bullish momentum. The price corridor between $2,852 and $3,300 is critical, and market ambiguity is expected to decrease following the SEC’s imminent decision.
Furthermore, a decrease in ETH long liquidations and a slight increase in open interest by 1.97% support a bullish near-term outlook. Ether options traders are bracing for greater price volatility as the SEC deadline approaches, with a significant increase in implied volatility predicted at the time of the decision announcement.
Furrever Token Stimulates Competition Among Buyers and Investor Interests Amid Market Slowdown
While the broader cryptocurrency market faces challenges, Furrever Token (FURR) is taking a dynamic and engaging approach with its cat-themed design and substantial $20,000 competition to captivate investors. At an attractive price of $0.000648, Furrever Token not only offers promising financial returns but also cultivates a vibrant community.
The token’s rapid pre-sale success, having raised over $1 million, highlights its growing popularity. The ongoing competition, which awards up to $5,000 to top buyers, seeks to increase investor participation and commitment to Furrever Token, differentiating it as a project that combines financial opportunities with community-centric initiatives. This effort is a key part of Furrever Token’s strategy to create a fun and welcoming environment for its investors, increasing the value and enjoyment of the cryptocurrency investment journey.
For additional information or support about Furrever Token, please only contact us through the official channel at support@furrevertoken.com to ensure security and avoid possible fraud.
Join the Furrever Token presale now:
Furrever Token official website
Enter the $20,000 Furrever Token Giveaway
Join the official Telegram group
Follow the official account
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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