What we will talk about today...

Bitcoin's Uptrend Remains Strong Amid Market Lull

Glassnode research reveals Bitcoin holders remain profitable, with over 87% in profit, despite recent price stagnation.

• Main Points:

  • Market Sentiment: Hodlers are not selling off despite boredom.

  • Profitability: 87% of Bitcoin supply is still in profit.

  • MVRV Metric: Indicates Bitcoin’s uptrend remains intact.

  • Short-Term Holders: No mass sell-off despite price dip.

• Detailed Insights:

  • Investor Sentiment: Bitcoin is in a consolidation phase, with most investors holding steady.

  • Profitability: BTC remains up by 120% on average from its purchase price.

  • Short-Term Holders: Daily exchange inflows are lower than during peak periods, indicating stability.

  • Market Outlook: Key support levels are holding, suggesting a positive trend.

Related: Bitcoin's Critical $66K Price Point: What to Know This Week

WHAT WE RECOMMEND😉

To have an Invested Mind, we need Entertainment. Here are some Entertaining, Exciting, and Useful sites for You

Just Clicking The Subscribe Button Helps Us Continue
For Free Forever

What's Driving Ether (ETH) Price Surge Today?

Ether's price surged 4.5% to $3,550 after the SEC ended its investigation into Ethereum and ETH reserves on exchanges hit an 8-year low.

• Main Points:

  • SEC Decision: Investigation into Ethereum closed, boosting confidence.

  • Exchange Reserves: ETH reserves hit an 8-year low, reducing selling pressure.

  • ETF Approvals: Anticipation of Ether ETFs from major firms.

• Detailed Insights:

  • SEC Investigation Closure: The SEC ended its probe into Ethereum, boosting investor confidence. Ether ETFs from major firms are expected to start trading on July 2.

  • Exchange Reserves Decline: Ether-exchange reserves dropped to 12.2 million ETH, indicating reduced selling pressure and strong holding sentiment.

  • Staking Increase: The Ethereum staking address holds over 46.4 million ETH, showing a preference for staking over selling.

  • Price Support and Targets: ETH bounced from support at $3,500, with the potential to rise to $4,853 by July, or fall to $3,040 if support breaks.

Related: What’s Behind Today's Market Drop?

Blackrock's Cohen Explains Why Financial Advisors Are Wary of Bitcoin ETFs

Blackrock’s Samara Cohen explains financial advisors' cautious approach to spot Bitcoin ETFs due to volatility and regulatory concerns, emphasizing thorough risk analysis.

• Main Points:

  • Cautious Approach: Advisors are wary of Bitcoin ETFs due to volatility and regulatory issues.

  • Risk Analysis: Advisors align portfolios with clients’ risk tolerance.

  • ETF Role: Bitcoin ETFs bridge crypto and traditional finance.

• Detailed Insights:

  • Financial Advisors' Diligence: At the State of Crypto Summit, Samara Cohen highlighted the cautious stance of financial advisors toward spot Bitcoin ETFs, driven by price volatility and regulatory concerns. Advisors are currently conducting thorough risk analysis.

  • Advisors’ Responsibilities: Cohen emphasized that advisors, as fiduciaries, ensure portfolios reflect clients' risk tolerance and liquidity needs.

  • ETF Accessibility: Bitcoin ETFs bridge crypto and traditional finance, offering a safer investment route.

  • Industry Insights: A survey by Ric Edelman showed that 77% of financial advisors are waiting for spot Bitcoin ETFs to offer them to clients due to their compliance and accessibility.

Related: SEC's Crypto Enforcer Resigns: What This Means for the Future of Regulation

CAN YOU PREDICT THE PRICE?

HOW DID WE DO? 🤷

Stay Tuned For More Twists and Turns in
🚀The Crypto World & Happy Investing🚀

This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results