Bitcoin, Ethereum Rising: Analyst Explains Why The Next Bull Run Will Be “Crazier”?
2024年7月17日 - 7:30AM
NEWSBTC
At spot rates, Bitcoin and top altcoins like Ethereum and Solana
continue to edge higher. Despite the retracement earlier today, BTC
is firm and trending above the $60,000 psychological round number.
At the same time, ETH and SOL prices are firm above $3,300 and
$155. Bitcoin, Crypto Prices Rising Though Liquidity Is Low One
analyst has picked out an anomaly as crypto and altcoin prices push
higher, recovering after the June and early July drawdown. Taking
to X, one observer noted that the rally is organic. Related
Reading: Why Is The Ethereum Price Up Today? Of note, there are no
usual catalysts, including an uptick in liquidity marked by steep
inflows, as expected when the market spikes. As seen in the past,
and especially when prices rose in 2021 due to central banks across
the world easing or after the approval of spot Bitcoin
exchange-traded funds (ETFs) in the United States, there are no
signs that prices are edging higher due to more capital pouring in.
At the same time, it happens when the United States Federal Reserve
(Fed) has not slashed rates, like in 2020 through 2021, triggering
a lift-off now that inflation was expected to rise, and it did.
What’s happening is that Bitcoin and crypto prices are edging
higher without major catalysts. A major reprieve came when the
German government finally sold all its coins by July 12. This
coincided with Bitcoin and crypto prices bouncing from July lows.
The bounce saw BTC clear immediate liquidation levels, now support,
to float above $62,000. Will The Next BTC Bull Run Be “Crazier” And
“Longer”? For this reason, the analyst thinks the upcoming bull run
will be not only “crazier” but also more extended. At press time,
Bitcoin remains firm, expanding above $60,000, and traders expect
more gains in the days ahead. Technically, buyers have the upper
hand now that prices are trending above the middle BB for the first
time in over four weeks. Buyers are unyielding, soaking in the
selling pressure of July 4 and 5. Still, optimism is high that
Bitcoin has more room to bounce. A key resistance line to watch in
the days ahead is $66,000. If this level is broken, the odds of BTC
floating above $72,000, a zone that wasn’t broken in June, remain
high. Drivers of this leg up would include hopes of the United
States Fed slashing rates by the end of the year. More traders are
betting on multiple rate cuts by the end of the year. Related
Reading: Solana’s Popcat Nears $1 Billion Market Cap After Hitting
ATH Goldman Sachs’ analysts are already convinced that all
macroeconomic conditions are ripe for rate cuts. From recent
releases, inflation is cooling off while the United States labor
market is strong. Feature image from DALLE, chart from TradingView
Solana (COIN:SOLUSD)
過去 株価チャート
から 6 2024 まで 7 2024
Solana (COIN:SOLUSD)
過去 株価チャート
から 7 2023 まで 7 2024