Bitcoin set to break through

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin set to break through

FxPro | 1226 दिनों पहले

Market Picture

Bitcoin continues its attempts to break through resistance at $25K. Volatility was muted on Monday as the primary driver of it - US equity markets – was closed yesterday. Cryptocurrency market capitalisation rose 1.2%.

According to CoinShares, investments in cryptocurrencies fell by $32 million last week, the second consecutive week of declines and the highest in seven weeks. Investments in Bitcoin fell by $25 million and Ethereum by $7 million. Investment in funds that allow to short bitcoin increased by $4 million.

Despite bitcoin's unsuccessful attempts to consolidate above $25K, intraday pullbacks from this resistance are becoming smaller, indicating a continued buying-the-dip pattern. A break above $25K is only a matter of time, potentially opening the door to $28K.

News Background

Galois Capital, one of the world's largest cryptocurrency-focused hedge funds, announced its closure. The fund lost around half of its capital after the FTX collapse.

The next cryptocurrency bull market will start in the East. The US will only have two options: embrace cryptocurrencies or be left behind, said Gemini exchange co-founder Cameron Winklevoss. Such comments came amid moves by US regulators against cryptocurrency companies.

The G20's Financial Stability Board (FSB) intends to draw up standards for cryptocurrency regulation by July.

Hong Kong will allow retail investors to trade cryptocurrencies on exchanges. Trading venues will be subject to mandatory licensing.

Meanwhile, Binance's introduction of a zero fee for bitcoin trading and the collapse of the FTX exchange allowed it to capture 98% of the BTC spot trading market.

The FxPro Expert Analyst Team

FxPro

4.5

440 समीक्षाएँ

प्रकार: NDD

विनियम: FCA (UK), SCB (The Bahamas)

टैग: विश्लेषण

EBC Markets Briefing | Euro goes into reverse amid chorus of bearish calls

Wall Street banks unwind euro longs as US rate hikes outpace Europe, sending euro to near one-year lows; forecasts see EUR at $1.10 on dollar strength.

EBC Financial Group | 37 मिनटों पहले

Dow Jones Caps Strong First Half - CPT Markets

📊 H1 wrap: Dow +8.9%, S&P +9.6%, Nasdaq +12% — strongest first half since 2021. WTI crashes 20% in June, worst month since 2021. Gold -11.3%, worst quarter in 13 years. JPY hits 40-year low. September Fed hike probability at 65%. JOLTS beats at 7.594M. Warsh speaks at Sintra today.

CPT Markets | 2घंटे 24 मिनट पहले

Precious Metals: June Ends with Diverging Fortunes

Gold remained under pressure from a stronger US dollar and higher real yields, whilst silver and platinum group metals continued to reflect deeper structural trends. Strong central bank demand, resilient industrial consumption and Asia's growing influence suggest that the long-term outlook for precious metals extends well beyond short-term price fluctuations.

Headway | 14घंटे 2 मिनट पहले