In Brief Ethereum has historically seen its strongest monthly returns in May, averaging a 27.36% gain, suggesting potential for a price rebound. Large investors have increased their ETH holdings by over 22% since March, indicating strong confidence in Ethereum’s long-term value. The upcoming Pectra upgrade on May 7 aims to enhance scalability and usability, potentially…
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In Brief Bitcoin faces key resistance at $91,000 to $92,000, with $83,000 as crucial support; current movement suggests a typical correction. Analysts highlight market resilience and rising derivatives activity as signs BTC could soon break above $90,000. Long-term forecasts from experts like Arthur Hayes and Robert Kiyosaki predict BTC reaching up to $200,000 by end…
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In Brief Analysts favor Litecoin for ETF approval but unexpectedly rank Dogecoin above Solana and XRP for SEC consideration. The SEC’s new Crypto Task Force may reclassify assets, benefiting Litecoin and Dogecoin while hurting Solana’s chances. Grayscale and Bitwise push new ETF applications, signaling growing demand and possible SEC action in the near future. Analysts…
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In Brief Bitcoin analysts predict a potential price drop to $60,000 before a bullish rebound in 2025, citing weak current momentum. Key support levels between $97,000 and $93,800 have been breached, raising concerns of further declines to $70,000 or lower. Investor sentiment shows nervousness, with $3 billion in BTC moved to exchanges and ETF outflows…
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In Brief MicroStrategy might replace Moderna in the Nasdaq 100, riding high on its Bitcoin-driven stock surge. Nasdaq’s classification rules currently list MicroStrategy as a tech stock, bypassing restrictions on financial companies. Analysts Eric Balchunas and James Seyffart see reclassification risks but expect inclusion if no changes occur before March. According to Eric Balchunas and…
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In Brief One analyst via X predicts that Solana’s price could rally toward $290 before November 2024 ends. The Sharpe ratio shows that SOL offers a good risk to reward ratio with traders holding bullish positions. Another analyst suggests that the SOL/BTC uptrend could slow and this could drawdown Solana’s price. Solana (SOL) recorded an impressive…
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In Brief Bitwise updates S-1 filing with the SEC, including a six-month fee waiver plan. Market analysts predict a possible July 15 launch for the spot Ethereum ETF. The SEC review and approval are key to the ETF’s expected market entry. Asset manager Bitwise recently updated its S-1 filing for its spot Ethereum exchange-traded fund…
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In Brief Bitcoin’s future hinges on macroeconomic factors, with scenarios ranging from $30,000 to $60,000. Analysts predict either significant corrections or consolidation phases for Bitcoin and altcoins. Sentiment and key price levels play a crucial role in market direction, say industry experts. The cryptocurrency market has experienced significant turbulence recently, raising questions about the longevity…
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In Brief Analysts raise spot Ethereum ETF approval odds to 75%. SEC’s move to update filings ignites industry anticipation. ETH price jumps 19.98% following the analysts’ prediction. Analysts have increased their odds of spot Ethereum exchange-traded fund (ETF) approval. This shift in sentiment comes amid renewed optimism about regulatory approval from the US Securities and…
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JPMorgan analysts believe MicroStrategy’s debt-funding approach to Bitcoin purchases could worsen a market downturn. MicroStrategy could raise as much as $600 million from its latest convertible debt offering to purchase more Bitcoin. However, JPMorgan analysts have reportedly cautioned that the firm’s reliance on debt to purchase Bitcoin could exacerbate a market downturn. The firm, led by BTC advocate Michael Saylor, has acquired over…
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