News

bitcoin etf: Bitcoin slips below $67.2k; Ethereum drops more than 4% despite US approval of spot Ether ETFs

Published

9 months ago

on

Cryptocurrency Markets were in the red in Friday trading, dragged down by Bitcoin (BTC), Etherealand Solana.BTC fell more than 3.4% to $67,143 in early trading on Friday, while Ethereum fell more than 4.4% to $3,655.

“Bitcoin is trading around $67,000 after some profit-taking after hitting $71,000 on Wednesday,” said Edul Patel, CEO of Mudrex.

Meanwhile, Ethereum has fallen despite the U.S. Securities and Exchange Commission (SEC) approving the sale of spot Ether exchange-traded funds (ETFs) in the United States on May 23, 2024.

This is the SEC’s second decision regarding crypto exchange-traded products. Earlier this year, in January 2024, the SEC approved Bitcoin ETFs after a long battle.

Ethereum has surged more than 30% over the past week. “If the bulls can hold the current price level, the next resistance points are at $3,900 and then $4,100,” Edul said.

Among other major crypto tokens, BNB (-3.8%), Solana (-6.3%), Dogecoin (-5.1%), Toncoin (-4.8%), Cardano (-5.2%), Shiba Inu (-6.6%) and Avalanche (-6%) decreased.

THE global cryptocurrency market cap fell by 3.4% to around $2.5 trillion in the last 24 hours, while the total cryptocurrency market volume was $146.74 billion, which represents an increase of 55.34%. The volume of all stablecoins is now $135.99 billion, which is 92.67% of the total cryptocurrency market volume in 24 hours, according to data available on CoinMarketCap.

“ETH has continued to outperform BTC, which is a positive sign as ETH dominance increases. Key resistance levels for ETH are at $3,963 and $4,085. Funding rates between coins remain neutral, which is positive,” he said CoinDCX Research Team.

For BTC, the key levels to break for an upside move are $71,300 and $73,800, CoinDCX She said.

(Disclaimer: Recommendations, advice, opinions and views provided by experts are personal. They do not represent the views of The Economic Times)

(You can now subscribe to our )

Fuente

Related Topics:

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Trending

Exit mobile version