BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK
The post BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK appeared on BitcoinEthereumNews.com. Key points: Bitcoin slipped below $109,588, but technical charts suggest traders are buying each dip. Excessive leverage in Bitcoin futures increases the risk of a quick correction. Select altcoins have turned down from their respective overhead resistance levels, signaling that the bears remain sellers on rallies. Sellers have pulled Bitcoin (BTC) back below the breakout level of $109,588, but lower levels are likely to attract buyers. Investor interest remains strong, with the US spot Bitcoin exchange-traded funds witnessing inflows of $934 million on May 22 and $608 million on May 21, according to SoSoValue data. Glassnode noted that the all-time high above $109,588 led to a total profit-taking volume of roughly $1 billion, far more muted than the $2 billion when the price rose above $100,000 in December. That shows the investors expect the up move to continue. Veteran trader Peter Brandt said in a post on X that Bitcoin was on target to hit between $125,000 and $150,000 by the end of August. Crypto market data daily view. Source: Coin360 A strong rally attracts speculators who load up on leverage. CoinGlass data shows that Bitcoin futures open interest rose to just over $80 billion on May 23. Excessive leverage increases the risk of forced liquidation when prices witness a sharp pullback. Therefore, traders should exercise caution. What are the critical support levels for Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price prediction Sellers are trying to sustain the price below the breakout level of $109,588, which may trap the aggressive bulls. That could pull the price to the 20-day exponential moving average ($103,652). BTC/USDT daily chart. Source: Cointelegraph/TradingView A solid bounce off the 20-day EMA suggests that the sentiment remains positive and traders are buying on dips. The bulls will…
The post BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK appeared on BitcoinEthereumNews.com.
Key points: Bitcoin slipped below $109,588, but technical charts suggest traders are buying each dip. Excessive leverage in Bitcoin futures increases the risk of a quick correction. Select altcoins have turned down from their respective overhead resistance levels, signaling that the bears remain sellers on rallies. Sellers have pulled Bitcoin (BTC) back below the breakout level of $109,588, but lower levels are likely to attract buyers. Investor interest remains strong, with the US spot Bitcoin exchange-traded funds witnessing inflows of $934 million on May 22 and $608 million on May 21, according to SoSoValue data. Glassnode noted that the all-time high above $109,588 led to a total profit-taking volume of roughly $1 billion, far more muted than the $2 billion when the price rose above $100,000 in December. That shows the investors expect the up move to continue. Veteran trader Peter Brandt said in a post on X that Bitcoin was on target to hit between $125,000 and $150,000 by the end of August. Crypto market data daily view. Source: Coin360 A strong rally attracts speculators who load up on leverage. CoinGlass data shows that Bitcoin futures open interest rose to just over $80 billion on May 23. Excessive leverage increases the risk of forced liquidation when prices witness a sharp pullback. Therefore, traders should exercise caution. What are the critical support levels for Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price prediction Sellers are trying to sustain the price below the breakout level of $109,588, which may trap the aggressive bulls. That could pull the price to the 20-day exponential moving average ($103,652). BTC/USDT daily chart. Source: Cointelegraph/TradingView A solid bounce off the 20-day EMA suggests that the sentiment remains positive and traders are buying on dips. The bulls will…
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