Bullish bias returns to the cryptocurrency market today with Bitcoin gaining 1.0% and being traded around $37,700, while Ethereum gains 2.20% increasing above $2100. The increases are driven by the upcoming Bitcoin halving, the approaching final deadline for the acceptance of ETFs, and the settlement of the U.S. government with Binance, which the largest exchange agreed to earlier this week. Investors took this as a partial end of Binance's allegations. Despite the high penalty of over 4 billion dollars and the departure of the founder, CEO CZ, investors took it positively, and the outflows from the exchange were not significant enough to cause panic in the market.
On the wave of recent news, Ethereum is growing by over 2.0% and returns above the $2,100 level, while just a few days ago the price was knocked down to around $1,930. If the trend continues, we may see an attempt to break out of this year's highs on Ethereum, which so far remains behind Bitcoin. A level worth noting is $2,140. If bulls manage to break above this zone, the next range of this move could be $2,300. Source xStation 5
Daily Summary: Technology Drives Wall Street to Record Highs Despite Tensions in the Persian Gulf
Morning Wrap: USโIran Peace Talks in the Shadow of Trumpโs Ultimatum
Technical analysis: Bitcoin gains and approaches important resistance zone
Crypto news ๐ Bitcoin rebounds approaching $80k level
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
