{"id":344722,"date":"2024-07-15T22:03:38","date_gmt":"2024-07-15T16:33:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=344722"},"modified":"2024-07-15T22:03:38","modified_gmt":"2024-07-15T16:33:38","slug":"bitcoin-price-rockets-eyeing-70000-is-the-bull-run-near-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-rockets-eyeing-70000-is-the-bull-run-near-crypto-news\/","title":{"rendered":"Bitcoin Price Rockets Eyeing $70,000, Is The Bull Run Near? – Crypto News"},"content":{"rendered":"

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Prices in the cryptocurrency market regained strength over the weekend amid news of former US President Donald Trump\u2019s attempted assassination. Bitcoin price rebounded above the pivotal $60,000 level and continued with the rally above $63,000 on Monday.<\/p>\n

Altcoin majors Ethereum, Solana, Cardano, and more rallied alongside BTC, affirming the bullish outlook anticipated in the second half of the year. According to CoinGecko<\/span><\/a> data, ETH increased by 5.4% to $3,372, Solana by 5.6% to $153 and Cardano by a modest 2.7% to $0.44.<\/p>\n

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Bitcoin AUM Records $1.35B In Inflows<\/h2>\n

The latest report on assets under management (AUM) by CoinShares<\/span><\/a>, revealed a significant surge in weekly fund inflows to $1.44 billion, boosting the year-to-date inflows to $17.8 billion.<\/p>\n

Bitcoin-related products, including BTC ETFs, accounted for $1.35 billion, marking the coin\u2019s 5th largest weekly inflows. At the same time, \u201cshort-bitcoin saw the largest weekly outflows since April at $8.6m.\u201d The total BTC AUM is currently at $65.3 billion while the cumulative AUM stands at $84.7 billion.<\/p>\n

Bitcoin price chart | Tradingview<\/p>\n

Data by SoSoValue indicated that Bitcoin ETFs saw over $310 million in net inflows on Friday, July 12. BlackRock\u2019s IBIT and Fidelity\u2019s FBTC came out as the strongest-performing ETFs with $120 million and $115 million daily net inflows, respectively.<\/p>\n

\"Bitcoin
Bitcoin ETF stats | SoSoValue<\/figcaption><\/figure>\n

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The $23 million net inflow volume in Grayscale\u2019s GBTC is commendable and could signal reducing selling pressure. Should fund inflows continue this week, Bitcoin price would build momentum for a breakout targeting $70,000.<\/p>\n

What\u2019s Next As Bitcoin Price Rises Above $63,000<\/h2>\n

Bitcoin price<\/a><\/span> had extended the up leg above the $63,000 mark during US business hours on Monday. Hovering at $63,038, the largest cryptocurrency shows signs of a strengthening trend to close the gap to $70,000.<\/p>\n

However, BTC needs to confirm support above $63,000 and probably close the day above this level to validate the uptrend.<\/p>\n

\"Bitcoin\"Bitcoin
Bitcoin price chart | Tradingview<\/figcaption><\/figure>\n

Several indicators already back the bullish thesis to $70,000 starting with three applied Exponential Moving Average (EMAs) including the 20-day, the 50-day, and the 200-day.<\/p>\n

<\/p>\n

The 50-day would be first in line to provide support at $62,324 in case BTC reverses below $63,000. Other key levels are the 20-day EMA at $60,088 and the 200-day EMA at $58,255.<\/p>\n

Traders may continue to take advantage of the buy signal recently confirmed by the Moving Average Convergence Divergence (MACD). As long as the blue MACD line holds above the red signal line as the indicator climbs, Bitcoin price prediction<\/span><\/a> points to a sustainable uptrend, especially above the $64,000 immediate resistance level.<\/p>\n

Breaking above $64,000 could rekindle FOMO among investors who may decide to buy more Bitcoin<\/span><\/a> in anticipation of a breakout to new all-time highs. The potential bull run in 2024 and 2025 could bolster BTC above $100,000.<\/p>\n

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Frequently Asked Questions (FAQs)<\/h2>\n
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\n \tSoaring AUM inflows signals growing interest in the market and increasing demand for Bitcoin. It helps to shape market sentiment.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tBitcoin made a majestic rebound from $54,000 support to above $63,000 suggesting a potential bottoming out. A continued uptrend above $70,000 would further reinforce the bullish thesis.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tThe current technical structure is bullish, especially in the short term. The MACD, the 20-day, 50-day, and 200-day EMA back the new uptrend.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n

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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Prices in the cryptocurrency market regained strength over the weekend amid news of former US President Donald Trump\u2019s attempted assassination. Bitcoin price rebounded above the pivotal $60,000 level and continued with the rally above $63,000 on Monday. Altcoin majors Ethereum, Solana, Cardano, and more rallied alongside BTC, affirming the bullish outlook anticipated in the second […]<\/p>\n","protected":false},"author":2,"featured_media":344731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-344722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/344722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=344722"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/344722\/revisions"}],"predecessor-version":[{"id":344733,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/344722\/revisions\/344733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/344731"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=344722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=344722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=344722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}