Cointelegraph’s Post

Bitcoin Bull Run 2024: Are You Ready For The Rally? Bitcoin’s 2024 halving and the potential approval of Bitcoin ETFs are the two key events that could support a crypto market bull run in 2024. Bitcoin supply-demand conditions are aligning perfectly to take advantage. Long-term BTC holders are accumulating coins reducing the market supply. Institutional investor interest in Bitcoin steadily rose in 2023 highlighted by record high open interest in BTC futures and narrowing of GBTC discount to NAV.

$BTC #OVERBOUGHT #Bitcoin RSI at 88. We have not seen #RSI this overbought AND bitcoin trading at these absolute levels, ever. Chasing it here looks like a very late #trade.

Bitcoin Slumps to 2-Month Low Early on Thursday morning, bitcoin fell sharply 3.2% to a two-month low to trade at around $59,046, mainly driven by the expected mass BTC dump by the liquidators of the now defunct Mt. Gox crypto exchange. It is expected that they will start returning to clients the stolen tens of thousands of BTC in early July, which presents a large amount of selling pressure. Other major cryptocurrencies and altcoins followed suit and also dropped.  Ether fell 3.5% to $3,242.79 to a one-month low, regardless of the speculation over spot ETH ETFs and largely wiped out the May gains. XRP, SOL and ADA slid between 4% to 9%, while DOGE lost around 6%. Trade CFDs on cryptos: https://bit.ly/3FuGPsm 59% of retail CFD accounts lose money.

Crypto traders and investors are enjoying fresh momentum before next week's Bitcoin Halving. Bitcoin is trading above $70,000, Bitcoin Cash is trading just below $700, Ethereum could target $4,000 soon, and Dogecoin is trading above 20 cents.  Bitcoin ETF demand is stabilizing after a couple of weeks of low demand. Looks like demand is back. Last week around $500 million of Bitcoins were bought and the price is trading at around $69,500. Strong demand this week could push Bitcoin towards the record high of $73,700. Just before the Halving next week. www.trademarkets.eu Risk Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86.23% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. #tradingnews #trademarkets

5 Market Updates Catching Traders' Attention Today 1️⃣ Bitcoin is clinging to the $73,000 mark, currently trading at $72,960 after a slight decline of 0.31% today. 2️⃣ Ethereum dipped after the #Dencun launch. The price of ETH slumped 1.94% and is now $3,949. 3️⃣ The Bitcoin Realized Cap is currently increasing at a rate of $54B per month, approaching levels last seen during the rise in early 2021. 4️⃣ A bearish pattern, a "rising wedge," has emerged on the Bitcoin price chart, suggesting a potential pullback ahead, crypto analyst and trader Josh Olszewicz. 5️⃣ Memecoins had another big day as #Bitcoin reached ATH above $73,600. This trend suggests that investors are moving profits from Bitcoin into more speculative assets with lower liquidity.

Interesting take made by FIDELITY as Bitcoin made a new yearly high at $35'925 Bitcoin is on the move again and follows the pattern of previous boom-bust cycles 2011 / 2013/ 2017. Choose your trend ! "Bitcoin is a commodity currency that aspires to be a store of value and a hedge against monetary debasement. I think of it as exponential gold" as highlighted by Jurrien Timmer

This is the best graphical representation of price of #bitcoin i have seen. While downside risk remains significant (potential to drop to 25k and lower likelihood to go to just under 20k) but the upside is massively higher. It could easily double or even cross 100k. And then at some point halve again :) I don’t see it as #gold which has a very fundamental base use, #btc is much more speculative. So handle with care!

Bitcoin ETFs continue to see significant outflows, with a net outflow of $563.7M as of May 1, 2024. This trend is reflected across various Bitcoin ETFs, with the largest outflows seen in #FBTC and #GBTC. The 7-day average also remains negative at -$166.7M. Stay updated on the latest crypto news and trends at t.me/CMNisal.

JUST IN: Bitcoin hits $60K for the first time since November 2021. Following up on my recent post, BTC has broken out of the key resistance area of approx. $53K, reaching new heights. Nothing much to be mentioned here except for two factors: growing hunger for ETFs combined with upcoming BTC halving in April 2024. Now that the $60,000 barrier has been somewhat breached, we will be closely eyeing #Bitcoin in the upcoming days, with a heavy possibility of new ATH (all-time-high) being witnessed... Leap year is definitely playing in the coin's favour. At time of writing, Bitcoin is trading at $60,246. P.S: A correction is to still be considered. Watch this space! *Source: Trading View

5 market updates for today 1️⃣ Bitcoin surged to a new yearly high of $57,000, the highest price since Nov 2021. It is currently trading at $56,115. 2️⃣ The trading volume in spot Bitcoin #ETFs reached over $2.4 billion, marking a record since their launch. 3️⃣ Over $161 million in #BTC shorts were liquidated in the last 24 hours. 4️⃣ The crypto market's Fear and Greed Index is back in the "extreme greed" zone (79 points out of 100). 5️⃣ The funding rate in Bitcoin perpetual futures listed on Binance surpassed 100% for the first time in at least a year.