Key Market Fundamentals Point North After Losses In May: What To Expect From Top Crypto Assets

Key Market Fundamentals Point North After Losses In May: What To Expect From Top Crypto Assets
фото показано с : zycrypto.com

2023-6-27 21:49

Market indicators like the futures market, miners’ balance, and institutional demand predict an uphill run for digital assets. Top assets continue to rally on the back of BlackRock’s spot BTC ETF application for five consecutive days posting surges up to 20%. As the market awaits the SEC’s approval of the first Bitcoin ETF, analysts and market executives suggest that we are in the “great accumulation” phase of acquiring BTC.

After a brilliant run in the first quarter, the cryptocurrency market recorded its first loss in May, with a 6.9% decline due to uneasy regulation and uncertainty in interest rate hikes.

Major cryptocurrencies are getting out of the woods after recording surging values this week, with Bitcoin (BTC) hitting new points not seen in 12 months. Experts suggest that digital assets could still continue their rally due to increased market activity and other indicators.

The surge in mining stocks is a factor that points to a healthy market. A bearish market always leads to plunging mining stocks leaving miners scrambling for gains to stay afloat. Bit Digital recorded 77% in its stock following its expansion plans in Europe as well as TeraWulf, which also saw similar growth.

The profitability of BTC mining grew following the sharp popularity of Ordinals on the network. BTC miners generated $916.6 million in May, a 13.7% increase from April. As noted, increased transaction volume led to a boost in gas fees across many networks.

The BTC option market is another surging criterion analysts have relied on to speculate on the price action. The options market recorded trades worth $3.3 billion on June 22, its highest level in the past three months. 

VC and Wall Street funds hit the market

Although observers have noted an increase in almost every market activity, including non-fungible tokens and other decentralized applications, the leading factor in this uphill run has been the thirst for “big money” in virtual assets. 

Venture Capital investments in the market topped $1 billion for the first time since Sept 2022 and fell significantly lower after the collapse of FTX. VC interest increased by 34% in April, marking the third consecutive rise after a strong showing in Q1 2023. 

This past week has ushered in a new drive of institutional investors in cryptocurrency products, with many coming from Wall Street. Following BlackRock’s application for a spot BTC application, the floodgates for more applications were opened. Several firms, including WisdomTree and Invesco, have made similar applications alongside top bank officials hailing the merger of digital assets and traditional finance.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69427.55 (+0.14%)
Объем 24H $45.871b
Изменеия 24h: 2.63 %, 7d: -4.43 %
Cегодня L: $69039.59 - H: $69761.69
Капитализация $1373.154b Rank 1
Цена в час новости $ 30696.58 (126.17%)

week values recording surging bitcoin woods hitting

Источник: zycrypto.com

week values → Результатов: 61


How will the bitcoin exchange rate change next week

Experts analyzed the market situation and told how it could change in the short term On December 25, bitcoin was trading at $ 16.8 thousand, over the past seven days its price has returned to the values of the beginning of the week, and the volatility of the rate of the first cryptocurrency was observed […] Сообщение How will the bitcoin exchange rate change next week появились сначала на Coinstelegram.

2022-12-27 13:27


Фото:

XRP Crash Burns Other Crypto Asset Values, BTC Price Remains Unscathed

Digital currency markets have seen some volatile action this week and during the last 24 hours following the XRP charges, a number of coins shed a great deal of value. At the time of publication, the entire crypto-economy is valued at $629 billion and because XRP lost so much value, bitcoin’s dominance index has risen […] The post XRP Crash Burns Other Crypto Asset Values, BTC Price Remains Unscathed appeared first on Bitcoin News.

2020-12-24 18:20


Фото:

As Countries Start to Spiral Into Monetary Crisis, Will the World Ultimately Turn to Bitcoin?

In the past week, several countries’ fiat currencies have spiraled out of control. Specifically, the Lebanese Pound and the Argentinian Peso have both faced a massive drop in currency values. The Argentina situation before the pandemic was pretty bad as the South American country had been in a three-year recession before the coronavirus struck. A few […]

2020-7-6 21:59


Фото:

Markets Update: Crypto Prices Drift Sideways While Traders Remain Uncertain

A lot has changed since our last markets update as digital asset prices have been consolidating after the cryptoconomy’s last big drop in value. The entire ecosystem’s market valuation has lost about $10 billion over the last week, but stronger global trade volumes have managed to keep values afloat at current prices as traders await […] The post Markets Update: Crypto Prices Drift Sideways While Traders Remain Uncertain appeared first on Bitcoin News.

2019-1-17 20:15


Фото:

Bitcoin Price Analysis: Wait and See Where Recent Signs of Strength Lead

This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:Figure 1: BTC-USD, Daily Candles, Current Support LevelFigure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market.

2018-11-30 01:45


Фото:

Markets Update: Crypto-Capitulation Causes Uncertainty Toward Year End Prices

All eyes have been glued to cryptocurrency markets over the last week as a great majority of digital asset values plummeted to their lowest prices since last year. There’s been a slight price recovery and some consolidated sideways action taking place as some market observers have noted an attempt to reverse the trend may be […] The post Markets Update: Crypto-Capitulation Causes Uncertainty Toward Year End Prices appeared first on Bitcoin News.

2018-11-23 21:55


Фото:

Electroneum: Instant Results, But NOT Instant Payments…

Electroneum had two spectacular days on the cryptocurrency market after launching the beta of its instant payments processor earlier this week, recording a 31% jump in market values. But is this the instant payment system that can change the world? The development team took a full year from the soft launch of the concept to […] The post Electroneum: Instant Results, But NOT Instant Payments… appeared first on Crypto Briefing.

2018-9-23 21:04


дальше еще 12 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Consensys lays off 20% of its total workforce

Consensys cuts 20% of its workforce due to economic and regulatory challenges. CEO Joe Lubin criticizes the SEC’s actions as a harmful “abuse of power. ” The company aims to enhance decentralization and evolve into a “Network State.

Ethereum Price: Analysts Point to Ultra-Bullish Breakout

Today, the crypto market recorded outflows, wiping out previous gains in Ethereum and other altcoins. These recent short-term exits weakened the bullish drive, with several digital asset whales repositioning their portfolios.