May 23, 2024

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Bitcoin, Ethereum, Dogecoin Soar After SEC Ratings BlackRock Card ETF, Fidelity 'Not Enough' - Analyst Says King Crypto Could Hit $310K If Institutions Do

Bitcoin, Ethereum, Dogecoin Soar After SEC Ratings BlackRock Card ETF, Fidelity ‘Not Enough’ – Analyst Says King Crypto Could Hit $310K If Institutions Do

The major cryptocurrency traded in the green Sunday night after Securities and Exchange Commission (SEC) said the current Bitcoin ETF filings are “inadequate”.

Cryptocurrency Gains +/- Price (recorded at 9:30pm EST)
Bitcoin (CRYPTO: BTC) +0.47% $30,779
Ethereum (CRYPTO: ETH) +1.51% $1,950
Dogecoin (CRYPTO: DOGE) +1.20% $0.068

What happened: This week is expected to be eventful with many important economic developments. On Wednesday, the minutes of the June FOMC meeting will be released. On Thursday, the JOLTs Job Titles report will be released, followed by the release of new unemployment numbers on Friday.

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Top Gainers (24 hours)

Cryptocurrency Gains +/- Price (recorded at 9:30pm EST)
complex +27% $66
chart +19.60% $0.12
filecoin +13.41% $4.59


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At the time of writing, the global cryptocurrency market cap is $1.12 trillion, up 0.79% from the previous day.

US stock futures showed little change Sunday night, signaling the start of a brilliant second half of the year on Wall Street. Futures contracts linked to the S&P 500 and the Nasdaq-100 index traded steadily.

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be seen more: Best crypto day trading strategies

analyst Notes: “Bitcoin fell from the $31,000 level after the WSJ reported that the SEC said instant Bitcoin ETF deposits were insufficient. The regulator was commenting on the filings of BlackRock and Fidelity,” Edward Moyasenior analyst at OANDA in a note seen by Benzinga.

He adds, “Bitcoin is trading around the $30,000 level, but a new catalyst is needed to spark bullish momentum above the $34,000 level.”

According to the cryptanalyst Michael Van de PoppeBitcoin is currently experiencing a classic weekend liquidity sweep. It is crucial for Bitcoin to maintain its price above the $29,800-$29,900 range.

“I would prefer to see Bitcoin target $30,750 and start climbing into the high range to take liquidity above the highs,” Van de Poppe said.

Bitcoin’s price is likely to rise ten times to its current value, according to on-chain analyst Willie Wu. “What would the price do if these people put 5% of the assets under management in BTC?” asked the analyst.

My accounts are about $310,000 per coin. It will really depend on whether it is going to break out in a bearish or bullish phase of the market but the range will be between $128,000 – $398,000. Now it’s $310,000.”

is reading the next: Jim Cramer advised against using Binance, which prompted strong reactions from Twitter users

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