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Bitcoin ETF Surge: Is $100k the Next Target?
Bitcoin faces volatility, but strong institutional interest through ETFs might propel its price toward $100k.
Joe G & Money Talks
October 05, 2024 • Estimated Reading Time: 6 minutes
What we will talk about today...
Bitcoin ETF Surge: Is $100k the Next Target?
XRP Price Drops 15% in 3 Days—Is the Bottom Near?
Bitcoin Whales HODLing: Waiting for Retail Liquidity?
Bitcoin faces volatility, but strong institutional interest through ETFs might propel its price toward $100k.
Main Points:
Institutional interest: Firms like BlackRock and Fidelity push into Bitcoin ETFs.
Market dynamics: Key sell-offs, such as Mt. Gox, pressure Bitcoin’s price.
Profit-taking behavior: Early investors cash out near $60k–$70k.
ETF flows: Net inflows of $18.8 billion reflect positive sentiment.
Detailed Insights:
Institutional interest remains high: Despite volatility, major players see long-term potential.
Market dumps affect prices: Events like the Mt. Gox settlement triggered large sell-offs.
Profit-taking at key levels: Investors typically sell when Bitcoin nears past highs.
Changing investor profiles: Older investors focus on liquidating holdings for financial needs.
ETF flows drive optimism: Positive inflows underscore excitement around Bitcoin ETFs.
Bitcoin’s future price movements depend on ETF approvals and institutional interest.
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XRP Price Drops 15% in 3 Days—Is the Bottom Near?
XRP faces a 15% decline amid legal pressures, but analysts suggest it could rally 4,000% in the next bull market.
For the #XRPHolders, here is the SEC v. Ripple appellate timeline:
1. SEC brief likely due 12/2/24. SEC likely to seek permissible 30 day extension, so will be due shortly after 1/1/25.
2. Ripple will cross appeal. It's opening brief will be due around the same time.
3. The… x.com/i/web/status/1…
— Fred Rispoli (@freddyriz)
9:45 PM • Oct 2, 2024
Main Points:
SEC appeal impact: Legal setbacks contribute to XRP’s recent decline.
Symmetrical triangle breakout: XRP’s current price pattern mirrors its 2017 rally.
Potential rally: Analysts predict a possible 4,200% surge if the breakout occurs.
Legal risks: SEC’s appeal may cause further price downturns.
Detailed Insights:
SEC appeal driving losses: XRP’s decline follows the SEC’s renewed appeal in the Ripple lawsuit.
Symmetrical triangle pattern forming: Historical fractals suggest a massive rally is possible.
Bullish potential: XRP could surge over 4,200% if it breaks the $0.52 resistance.
Headwinds from legal issues: The Ripple case poses risks, potentially pushing XRP below $0.11.
Technical signals at play: Support levels and chart patterns hint at a potential breakout.
#XRP is following the exact same pattern as it did before the 80,000% gains in 2017. Ignore the news and follow the charts 🚀
— CryptoBull (@CryptoBull2020)
6:03 PM • Oct 3, 2024
XRP’s trajectory depends on the outcome of the Ripple lawsuit and technical chart formations.
₿itcoin reached $62,277. +1.21%
♢Ethereum reached $2,423. +1.47%
Bitcoin whales hold firm, waiting for retail investors to inject liquidity despite the underperformance in the current bull cycle.
Main Points:
Low whale profits: Bitcoin whales may face historically low returns if the bull run ends now.
Whale strategy: Whales are distributing their holdings across smaller wallets.
Market volatility: Futures trading drives recent volatility, not whale activity.
Retail liquidity: Whales are likely waiting for retail investors to boost liquidity.
Detailed Insights:
Whales see low profits: Bitcoin whales haven’t sold as much during this cycle, awaiting a better profit window.
New whale strategy: Whales distribute BTC across multiple addresses to hide large holdings.
Futures-driven volatility: Recent market shifts stem from futures trading, not whale activity in spot markets.
Retail investor liquidity needed: Whales prefer to wait for retail traders to inject liquidity before making moves.
Market uncertainty persists: Despite disruptions, many analysts expect Bitcoin’s upward trajectory to resume soon.
The current bull cycle sees whales in a holding pattern, waiting for retail investors to ignite the next liquidity surge.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results