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Crypto Price Analysis

Bitcoin’s sharp recovery above overhead resistance signals a potential move toward $70,000, while altcoins show mixed performances.

• Main Points:

  • Bitcoin Recovery: BTC breaks above resistance, targeting $70,000.

  • Ethereum Rally: ETH rises above key levels, aiming for $4,000.

  • BNB Surge: BNB maintains upward momentum, targeting $635.

  • Solana Breakout: SOL breaks the descending triangle, eyeing $210.

  • XRP Fluctuations: XRP faces resistance at $0.64, and support at $0.57.

  • Dogecoin Stability: DOGE holds above 20-day SMA, potentially moving to $0.18.

  • Toncoin Consolidation: TON in a range, resistance at $8.29.

  • Cardano Rebound: ADA bounces off moving averages, aiming for $0.57.

  • Avalanche Range: AVAX is stuck between moving averages, and needs to break $29.

  • Shiba Inu Resistance: SHIB faces resistance at $0.000020, and support at $0.000017.

• Detailed Insights:

  • Bitcoin (BTC) Price Analysis

    Bitcoin recovered to $66,128 but faced resistance. Bulls are buying on minor dips, and if the price sustains above $66,128, BTC could rally to $70,000. A drop below the 50-day SMA ($63,762) might push the price down to the 20-day SMA ($60,380).

  • Ethereum (ETH) Price Analysis

    Ethereum rose above the 50-day SMA ($3,441). If it holds, ETH could rally to $3,730 and then $4,000. A break below $3,346 might lead to a drop to the 20-day SMA ($3,235).

  • BNB (BNB) Price Analysis

    BNB surged above the 50-day SMA ($586). Maintaining above this level could push BNB to $635 and potentially $722. A drop below the 20-day SMA ($545) could see BNB range between $460 and $635.

  • Solana (SOL) Price Analysis

    Solana broke above the descending triangle pattern, indicating strong demand. SOL could climb to $180 and $210 if it holds. A drop below the moving averages might keep it in the triangle longer.

  • XRP (XRP) Price Analysis

    XRP faced resistance at $0.64 and fell below $0.57 but saw aggressive buying. The moving averages' bullish crossover suggests an upside, targeting $0.64 again. Support is at $0.51.

  • Dogecoin (DOGE) Price Analysis

    DOGE held above the 20-day SMA ($0.11) and could move to $0.15 and $0.18 if it surpasses the 50-day SMA ($0.13). A break below the 20-day SMA could see DOGE drop to $0.10.

  • Toncoin (TON) Price Analysis

    TON is consolidating between $6.77 and $8.29. Rising above the moving averages could push TON to $7.72 and $8.29. Failure might keep it range-bound.

  • Cardano (ADA) Price Analysis

    ADA bounced off moving averages, targeting $0.46. Breaking this resistance could push ADA to $0.52 and $0.57. A drop below moving averages might lead to $0.35.

  • Avalanche (AVAX) Price Analysis

    AVAX is stuck between moving averages. A break above $29 could trigger a rally to $34 and $37. Falling below $24 could extend the range-bound action.

  • Shiba Inu (SHIB) Price Analysis

    SHIB turned down from $0.000020 and found support at the 20-day SMA ($0.000017). A rebound could target $0.000020 and $0.000026. A drop below the 20-day SMA might see SHIB range between $0.000020 and $0.000012.

Related: Kiyosaki’s Alert: BRICS Crypto Threat to US Dollar

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Fidelity Surpasses BlackRock in Bitcoin ETF Inflows

Spot Bitcoin ETF inflows surged on Friday, with Fidelity's FBTC leading the way and surpassing BlackRock's IBIT. Bitcoin price gains 4% as a result.

• Main Points:

  • Fidelity’s FBTC Milestone: Approaches $10 billion in AUM.

  • BlackRock’s IBIT Performance: Accumulated $1.3 billion in inflows over ten days.

  • Trading Volumes: High volumes indicate strong investor confidence.

  • Bitcoin Price Surge: BTC surpasses $67,000, driven by ETF inflows.

  • Bitwise ETF Achievement: BITB reaches $2.5 billion in AUM.

• Detailed Insights:

  • Fidelity’s FBTC Milestone: On Friday, Fidelity's spot Bitcoin ETF, FBTC, saw a significant inflow of $141 million, surpassing BlackRock’s IBIT, which had $116 million. FBTC is nearing a major milestone with its assets under management (AUM) approaching $10 billion, currently standing at $9.962 billion.

  • BlackRock’s IBIT Performance: Over the past ten days, BlackRock's IBIT has consistently led inflows, amassing over $1.3 billion. On Friday, it recorded a trading volume of $1.7 billion, showcasing strong investor interest.

  • Trading Volumes: The high trading volumes in spot Bitcoin ETFs reflect major confidence among investors. Fidelity’s FBTC saw a volume of $600 million on Friday. Other ETFs, including Grayscale’s GBTC, also experienced net inflows, with GBTC receiving $20 million.

  • Bitcoin Price Surge: The massive ETF inflows contributed to a 4% rise in Bitcoin’s price, pushing it past $67,000. The daily trading volume surged by more than 37%, reaching $36.5 billion on Friday.

  • Bitwise ETF Achievement: The Bitwise BTC ETF (BITB) saw $44 million in inflows on Friday, bringing the total weekly inflows to over $68 million. BITB’s AUM has now exceeded $2.5 billion. Notably, Bitwise donates 10% of its gross profits to support the Bitcoin development community.

Related: Bitcoin Consolidation Continues

Bitcoin Hits $67,300: Michael Saylor Reacts

Bitcoin surges to $67,300, prompting a bullish response from MicroStrategy’s Michael Saylor, who highlights Bitcoin’s impressive growth compared to other assets.

• Main Points:

  • Bitcoin Price Surge: BTC jumps 6% to $67,300.

  • Saylor’s Bullish Statement: Emphasizes Bitcoin’s 460% growth over four years.

  • MicroStrategy’s Performance: Outperforms major rivals with a 1,203% stock price increase.

  • Market Context: Bitcoin gains amid global IT system outages.

• Detailed Insights:

  • Bitcoin Price Surge: Bitcoin experienced a significant 6% increase, reaching $67,300. This sudden price jump has reignited bullish sentiments within the cryptocurrency community.

  • Saylor’s Bullish Statement: Michael Saylor, co-founder of MicroStrategy and a leading Bitcoin supporter, shared a chart on X (formerly Twitter) showcasing Bitcoin’s 460% growth over the past four years. He compared this to the S&P 500’s 64%, Nasdaq’s 62%, gold’s 21%, and silver’s 8% gains, while bonds fell by 19%. Saylor tweeted, “If you're not winning, you're losing.”

  • MicroStrategy’s Performance: Thanks to its regular Bitcoin accumulations, MicroStrategy currently holds 226,331 BTC valued at $7.538 billion. The company’s stock has surged by 1,203% over the past four years, outperforming Nvidia, Tesla, Apple, Google, Microsoft, and Meta. As of now, MSTR shares are trading at $1,768.

  • Market Context: Bitcoin’s recent price spike coincides with a global IT system outage affecting Microsoft and CrowdStrike. Despite the market turbulence, Bitcoin’s resilience and strong performance continue to attract investor interest.

Related: Microstrategy Joins MSCI World Index Amid Bitcoin Rally

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