Bitcoin Might Test $104,500 Before Hitting New Price Highs
The post Bitcoin Might Test $104,500 Before Hitting New Price Highs appeared on BitcoinEthereumNews.com. Key points: Bitcoin is facing selling near $109,000, but the shallow pullback suggests the uptrend may resume. BNB and HYPE are showing strength, having broken above their immediate resistance levels. Bitcoin (BTC) has started the week on a soft note, with the bears trying to pull the price below the $107,000 level. Bitcoin remains on track for a positive monthly close in June as long as it stays above $104,600. If that happens, it will only be the second occasion since 2020 that Bitcoin has closed June in the green, per CoinGlass data. Bitcoin’s failure to break out of the all-time high at $111,980 has not deterred investors from buying more. CoinShares data shows $2.2 billion in inflows into Bitcoin exchange-traded products last week. Crypto market data daily view. Source: Coin360 In addition to steady ETF inflows, Bitcoin treasury companies continued their purchases. Michael Saylor’s Strategy revealed the acquisition of 4,980 Bitcoin at an average price of $106,801, its 11th successive week of Bitcoin purchases. Similarly, Metaplanet CEO Simon Gerovich said in a post on X that the firm bought 1,005 Bitcoin at an average price of $107,601. Could Bitcoin stay above $106,000, or will bears pull the price below the level? How are altcoins likely to behave? Let’s analyze the charts of the top 10 cryptocurrencies to find out. S&P 500 Index price prediction The S&P 500 Index bounced off the 20-day exponential moving average (EMA) (6,029) on June 23, indicating a positive sentiment. SPX daily chart. Source: Cointelegraph/TradingView The bulls continued to buy at higher levels, pushing the price above the all-time high of 6,147 on Friday. If the price maintains above 6,147, the index could rally toward 6,500. Sellers are likely to have other plans. They will try to pull the price back below 6,147, trapping the…
The post Bitcoin Might Test $104,500 Before Hitting New Price Highs appeared on BitcoinEthereumNews.com.
Key points: Bitcoin is facing selling near $109,000, but the shallow pullback suggests the uptrend may resume. BNB and HYPE are showing strength, having broken above their immediate resistance levels. Bitcoin (BTC) has started the week on a soft note, with the bears trying to pull the price below the $107,000 level. Bitcoin remains on track for a positive monthly close in June as long as it stays above $104,600. If that happens, it will only be the second occasion since 2020 that Bitcoin has closed June in the green, per CoinGlass data. Bitcoin’s failure to break out of the all-time high at $111,980 has not deterred investors from buying more. CoinShares data shows $2.2 billion in inflows into Bitcoin exchange-traded products last week. Crypto market data daily view. Source: Coin360 In addition to steady ETF inflows, Bitcoin treasury companies continued their purchases. Michael Saylor’s Strategy revealed the acquisition of 4,980 Bitcoin at an average price of $106,801, its 11th successive week of Bitcoin purchases. Similarly, Metaplanet CEO Simon Gerovich said in a post on X that the firm bought 1,005 Bitcoin at an average price of $107,601. Could Bitcoin stay above $106,000, or will bears pull the price below the level? How are altcoins likely to behave? Let’s analyze the charts of the top 10 cryptocurrencies to find out. S&P 500 Index price prediction The S&P 500 Index bounced off the 20-day exponential moving average (EMA) (6,029) on June 23, indicating a positive sentiment. SPX daily chart. Source: Cointelegraph/TradingView The bulls continued to buy at higher levels, pushing the price above the all-time high of 6,147 on Friday. If the price maintains above 6,147, the index could rally toward 6,500. Sellers are likely to have other plans. They will try to pull the price back below 6,147, trapping the…
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