The Crypto Market Up Today!
The crypto market is experiencing an upward trend due to several key factors:
Increased Inflows into Spot Bitcoin ETFs: There has been a significant increase in investments in U.S. spot Bitcoin exchange-traded funds. As of May 16, these funds manage approximately $12.40 billion in BTC, up from $11.18 billion at the beginning of the month.
Coinbase's Expansion Plans: Coinbase's announcement to expand into Australia's $2.5 trillion pension market is driving positive sentiment and investor confidence in the crypto market.
These factors are contributing to the current bullish momentum in the crypto market.
Top catalysts driving the crypto market upward today include ongoing inflows into U.S. spot Bitcoin exchange-traded funds and Coinbase's plans to expand into Australia's $2.5 trillion pension market.
Investors Returning to Spot Bitcoin ETFs
The crypto market's recent gains coincide with renewed inflows into U.S.-based spot Bitcoin ETFs. As of May 16, these funds manage approximately $12.40 billion worth of BTC, up from $11.18 billion at the start of the month.
Notably, over 600 firms have reported holding Bitcoin ETFs in their portfolios.
Technically:
The price is expected to correct to 64,910 before continuing its bullish trend towards 69,030. Breaking through 69,030 would further reinforce the bullish trend, targeting 73,525.
However, if the price breaches 64,900, it will signal a bearish trend, potentially dropping to 60,980.
Key levels to watch:
- Pivot price: 65,870
- Resistance: 67,800, 69,030, 71,150
- Support: 64,910, 59,230, 56,880
The price movement is anticipated to range between 64,910 and 69,030.
The crypto market is experiencing an upward trend due to several key factors:
Increased Inflows into Spot Bitcoin ETFs: There has been a significant increase in investments in U.S. spot Bitcoin exchange-traded funds. As of May 16, these funds manage approximately $12.40 billion in BTC, up from $11.18 billion at the beginning of the month.
Coinbase's Expansion Plans: Coinbase's announcement to expand into Australia's $2.5 trillion pension market is driving positive sentiment and investor confidence in the crypto market.
These factors are contributing to the current bullish momentum in the crypto market.
Top catalysts driving the crypto market upward today include ongoing inflows into U.S. spot Bitcoin exchange-traded funds and Coinbase's plans to expand into Australia's $2.5 trillion pension market.
Investors Returning to Spot Bitcoin ETFs
The crypto market's recent gains coincide with renewed inflows into U.S.-based spot Bitcoin ETFs. As of May 16, these funds manage approximately $12.40 billion worth of BTC, up from $11.18 billion at the start of the month.
Notably, over 600 firms have reported holding Bitcoin ETFs in their portfolios.
Technically:
The price is expected to correct to 64,910 before continuing its bullish trend towards 69,030. Breaking through 69,030 would further reinforce the bullish trend, targeting 73,525.
However, if the price breaches 64,900, it will signal a bearish trend, potentially dropping to 60,980.
Key levels to watch:
- Pivot price: 65,870
- Resistance: 67,800, 69,030, 71,150
- Support: 64,910, 59,230, 56,880
The price movement is anticipated to range between 64,910 and 69,030.
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~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
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