Ethereum
King Crypto Could Have a Chance to Reclaim $71,500, Analyst Predicts
Bitcoin and Ethereum Hold Steady, Dogecoin Surges as Biden Drops Out of Presidential Race: Crypto King Could Have a Chance to Reclaim $71,500, Forecast Analyst Says
Bitcoin and Ethereum Consolidate, While Dogecoin Surges Joe Biden announced his withdrawal of the 2024 presidential race.
Cryptocurrency |
Gains +/- |
Price (Recorded at 9:15 p.m. EDT) |
Bitcoin (CRYPTO: Bitcoin) |
+1.52% |
$68,136.71 |
Ethereum (CRYPTO: ETH) |
+0.83% |
$3,540.81 |
Dogecoin (CRYPTO: DOGE) |
+5.50% |
$0.1397 |
What happened:The world’s largest cryptocurrency, Bitcointraded flat until news of Biden’s withdrawal from the race broke, injecting positive volatility into the market. King Crypto recorded a weekly close above $68,000 and is up over 10% on the week.
Ethereum The stock is trading in the $3,500 area, anticipating bullish momentum as it awaits final approval of exchange-traded funds that track its spot price. Investment products are expected to launch this week.
Over the past 24 hours, 56,837 traders have been liquidated, with total liquidations of $165.54 million. Over $100 million in bullish bets have been liquidated.
Do not miss :
Bitcoin’s open interest increased by 1.08% to $37.21 billion over the past 24 hours, complementing the price rally. This generally indicates bullish sentiment.
The Cryptocurrency Fear and Greed Index was reading “Greed” at the time of writing, signaling strong buying sentiment in the market.
Top Winners (24 Hours)
Cryptocurrency |
Gains +/- |
Price (recorded at 9:15 p.m. EDT) |
Celestia (TIA) |
+16.30% |
$7.55 |
Heart (HEART) |
+15.12% |
$1.65 |
avalanche (AVAX) |
+12.27% |
$32.54 |
The global cryptocurrency market is worth $2.48 trillion, up 1.65% in the last 24 hours.
Stock futures rose slightly Sunday evening. Dow Jones Industrial Average Futures gained 0.12%, as of 9:15 p.m. EDT. Futures contracts linked to the S&P 500 added 0.22%, while Nasdaq 100 Futures Contracts increased by 0.36%.
The story continues
Traders have been watching the political situation unfold following Biden’s withdrawal from the 2024 presidential race. It will be interesting to see how the market opens this week in response to this significant development.
Last week, major indices such as the S&P 500 and the Nasdaq Composite Index recorded their biggest weekly losses since April.
See also: Commercial real estate has historically outperformed the stock market and This platform allows individuals to invest in commercial real estate with as little as $5,000, offering a target return of 12%.
Analyst’s Notes: Popular Cryptocurrency Trader CrypNew anticipated significant volatility in the Bitcoin market following Joe Biden’s announcement.
“I expect rather volatile price action; therefore, I think it is likely to see a move lower first. Then, we can move up to liquidity at $68,900,” the trader predicted.
$BTC Sunday Update:
The coming week was supposed to be quiet, but Biden has just announced that he will not run for re-election.
I expect price volatility instead; therefore, I think it is likely that we will see a decline first. Then, we can move up to liquidity at $68.9k.
— CrypNuevo 🔨 (@CrypNuevo) July 21, 2024
Highly followed analyst Rekt Capital said a weekly close above $65,000 could boost Bitcoin’s chances of reclaiming $71,500 the following week.
With the top cryptocurrency closing near $68,000, it will be interesting to see if the predictions come true.
Read more :
“THE SECRET WEAPON OF ACTIVE INVESTORS” Boost your stock market game with the #1 trading tool for “news and everything else”: Benzinga Pro – Click here to start your 14-day trial now!
Get the latest stock analysis from Benzinga?
This item Bitcoin and Ethereum Hold Steady, Dogecoin Surges as Biden Drops Out of Presidential Race: Crypto King Could Have a Chance to Reclaim $71,500, Forecast Analyst Says originally appeared on Benzinga.com