BTCUSD (Bullish sentiment lifts global digital assets)
Bullish Sentiment Boosts Global Digital Assets Market Amid Bitcoin Investments
The global digital assets market is experiencing strong bullish sentiment, largely driven by increasing inflows into spot Bitcoin exchange-traded funds (ETFs) and favorable trading conditions. Despite a notable outflow from Bitcoin ETFs, the latest Bitfinex Alpha report highlighted three key factors supporting the bullish outlook: consistently high daily closes, Bitcoin outflows from exchanges, and significant inflows into the spot Bitcoin ETF market.
The price stabilized in the bullish zone as predicted in our previous analysis, reaching targets of 69030 and 71660.
Technically:
Currently, a correction is expected down to 69040 before the price attempts to push up to a new all-time high. The price is likely to consolidate between 69030 and 71660 until a breakout occurs. A decisive break below 69030 with a daily close under this level would signal a downtrend.
Key levels to watch:
The global digital assets market is experiencing strong bullish sentiment, largely driven by increasing inflows into spot Bitcoin exchange-traded funds (ETFs) and favorable trading conditions. Despite a notable outflow from Bitcoin ETFs, the latest Bitfinex Alpha report highlighted three key factors supporting the bullish outlook: consistently high daily closes, Bitcoin outflows from exchanges, and significant inflows into the spot Bitcoin ETF market.
The price stabilized in the bullish zone as predicted in our previous analysis, reaching targets of 69030 and 71660.
Technically:
Currently, a correction is expected down to 69040 before the price attempts to push up to a new all-time high. The price is likely to consolidate between 69030 and 71660 until a breakout occurs. A decisive break below 69030 with a daily close under this level would signal a downtrend.
Key levels to watch:
- Pivot Price: 69730
- Resistance: 71660, 73810, 76500
- Support: 69040, 66850, 64900
The price movement is anticipated to range between 69040 and 73810.
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