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This week’s crypto market correction has taken a heavy toll on altcoins while Bitcoin and Ethereum remain in consolidation. It could be a while yet before altseason, according to analysts.
Market realignment for a single U.S. Federal Reserve rate cut this year has dragged bitcoin and equities lower.However, after a recent rate cut by the Bank of Canada and the European Central Bank, the market expects the Federal Reserve and the Bank of England to follow suit in coming months, analysts said.
Share link:In this post: KuCoin Research reported that the crypto market saw over $1 billion in investments in May, a 10.61% increase from May 2023 but a 6.4% decrease from April. The SEC’s approval of a Spot Ethereum ETF and strong U.S. stock market performance boosted crypto market confidence and capital inflows. Stablecoin market activity varied, with USDe reaching new highs while USDC and FDUSD issuance declined.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liab
Bernstein analysts have raised their price target for bitcoin to $200,000 from $150,000 by the end of 2025.The analysts also initiated coverage on MicroStrategy stock with an outperform rating, targeting a price of $2,890.
Bitget launched BRETTUSDT futures on June 14 , 2024 (UTC) with a maximum leverage of 25x. Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. BRETTUSDT-M perpetual futures: Parameters Details Listing time June 14, 2024 08:00 (UTC) Underlying asset BRETT Settlemen
Zapper introduced a new protocol aims to make on-chain data more accessible to users. It has also planned a ZAP token for the fourth quarter of this year.
- 10:49Pantera Capital Founder: The United States currently holds $600 billion worth of gold reserves, suggests switching to BitcoinChainCatcher news, according to Cointelegraph, billionaire and Pantera Capital founder Dan Morehead said in an interview with CNBC that the United States currently holds $600 billion worth of gold reserves, which is an astonishing figure. He suggested turning to digital gold, emphasizing "Bitcoin is a better choice."
- 10:08Su Zhu: I have closed the short position in BERA and switched to going long on ETHGolden Finance reports that Su Zhu, co-founder of Three Arrows Capital, announced in a post that he has liquidated his short position on BERA at $6.406 for profit and has now shifted to going long on ETH.
- 10:08Bloomberg: Bitcoin's annual increase lags behind gold, Trump's remarks trigger a rise in demand for safe-haven assetsGolden Finance reports, according to Bloomberg, Bitcoin is currently under pressure after outperforming most asset classes in 2024. Data shows that Bitcoin has only risen about 3% this year, while gold has increased by 9%. On February 4th, Trump stated that the United States might take over the Gaza region. Despite his staff trying to downplay this statement, it still pushed the price of gold to a historic high of $2,882 per ounce. Currently, the price of Bitcoin is still about 10% below its historical peak.