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Blockchain & Cryptocurrency
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Cryptocurrency Market Overview
2024-08-01 19:55:08
Finance
Blockchain

Cryptocurrency Market Overview

Bitcoin faces resistance at $70,000, while Ethereum eyes $3,563. Solana seeks to rebound to $210, XRP aims for $0.74, and Dogecoin hovers near $0.12.

Despite challenges, Cardano struggles at the 20-day EMA, and Avalanche tests $24 support. The US national debt may boost Bitcoin adoption.

However, recent price plunges have affected Bitcoin and other major cryptocurrencies. Ethereum holds firm at $2,860, pointing towards a potential rise to $4,500.

Bitcoin is consolidating between $58,000-$72,000, with potential for a breakout to $100,000 according to analysts. These fluctuations follow the Federal Reserve's decision to maintain interest rates, impacting various crypto assets' prices.

Related news on that topic:

Bitcoin's Growing Appeal and Potential for Massive Growth

Bitcoin's institutional appeal is increasing as traditional finance embraces it. Institutional investors demand transparency and see bitcoin as a 'freedom tool' with the potential to reach new highs. Analysts predict bitcoin could surpass $100K and even $700K based on portfolio allocation. Bill Miller believes bitcoin is undervalued and offers moral accountability. Concerns about institutional influence remain, but bitcoin's network remains incorruptible. Large holders continue to accumulate BTC, indicating confidence in its future. Despite negative news, bitcoin bulls remain assured of its potential for growth.

Bitcoin's Imminent 'Explosive Move' Predicted as Bollinger Bands ... Tighten

As Bitcoin's Bollinger Bands tighten to their narrowest point in a year, analysts anticipate a potential 20% surge, signaling a new all-time high. Past patterns show precedents for such moves, with a clear indicator of volatility explosions ahead. Traders eye the possibility of a significant short squeeze, where $5 billion in shorts may be liquidated at $72,000 and $4 billion at $73,000, amidst the looming explosive move. The imminent breakout is expected within weeks, promising heightened market activity and potential record highs for Bitcoin.

The press radar on this topic:

Cointelegraph.com News
31. Juli 2024 um 17:42

Price analysis 7/31: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Finance
Economy
Bitcoin faces $70,000 resistance; Ethereum eyes $3,563; Binance Coin eyes $635; Solana rebounds from $175, targets $210; XRP breaks above $0.64, aims for $0.74; Dogecoin balances at $0.12 support; Toncoin holds $6.77 support; Cardano struggles at 20-day EMA; Avalanche tests $24 support; Shiba Inu tests $0.000015 support; US national debt to boost Bitcoin adoption; Bitcoin targets $100,000; $100,000 Bitcoin by 2025.
CoinDesk
1. August 2024 um 15:39

Bitcoin Plunges More Than 10% Since Hitting $70K 72 Hours Ago

Finance
Politics
Economy
Bitcoin price plunges over 10% from $70K four-month high; U.S. economic data signals potential Fed rate cut; Bank of England joins monetary easing by Bank of Canada, ECB; Trump's 2024 election chances fade; Bitcoin 2024 conference excitement; Kamala Harris' rising odds of winning; U.S. initial jobless claims jump; Biden administration's stance on crypto; CoinDesk 20 Index decline; Ether, Solana, XRP price drops.
The Defiant
1. August 2024 um 11:01

Bitcoin Price Dips After Fed Leaves Interest Rates Unchanged

Finance
Economy
Crypto markets traded lower on Thursday following the Federal Reserve's decision to leave benchmark interest rates unchanged.Ethereum (ETH) fell 4% to $3,175, while Bitcoin (BTC) dipped 2% to trade at $64,417. Solana (SOL) plunged 8% today, making it the worst performer in the top 100 cryptocurrencies by market capitalization. Polkadot (DOT) dropped 3%.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Cointelegraph.com News
1. August 2024 um 13:27

Ethereum’s firm $2,860 support signals path to $4,500 — Deribit

Cryptocurrencies & blockchain
Finance
Technology
Economy
Ethereum holds $2,860 support; Deribit sees $4,500 highs from ETF approvals; Ether ETFs see $33.6M inflows, Bitwise vs BlackRock; Nansen data shows $750M outflows, BlackRock's 6.9% AUM; unlike Bitcoin ETFs, Ether ETFs lack SEC staking approval; Ethereum network TVL remains at 17.8M.
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