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Cryptoforecast

ETH Faces Bearish ☁️ & 🌧️ In the Next 7 Days - CAUTION! Eight of the top 10 best performing ETFs last week were digital currency funds, largely led by Ethereum futures funds, eft.com writes in its daily note. The best performing fund was ProShares’ Ether Strategy ETF (EETH), which gained 12 percent. This ETF manages a total of roughly $63 million in assets. EY, one of the four major accounting firms, has launched a contract management solution based on Ethereum’s blockchain, CryptoNews reports. “Deploying on a public blockchain is not only cheaper, but also much more scalable, helping enable many-to-many integrations on an open platform with no one company having an unfair advantage by controlling the network,” EY’s global blockchain leader, Paul Brody, is quoted as saying. Mixed trading conditions lie ahead for the global crypto market in the next 24 hours, with bearish clouds linger over Ether, Avalanche and Uniswap, signaling downside risks. However, Bitcoin, Binance Coin, Cardano and Ripple’s XRP will be profiting from a bullish sun and upside potential. Follow us for more crypto news and weather reports!
BITSTAMP:ETHUSDShort
by ATTMO
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BTC Bullish 24 Hours ☀️ ; Bearish Trends In the Medium-Term ☁️The cryptocurrency trend was negative over the weekend as tensions escalated in the Middle East. “Predictable unpredictability is the new normal… For markets in the short term, this should lead to position reduction,” Handelsbanken wrote in its daily note. The price of Bitcoin fell to a low of $61,078 on Saturday. This market volatility led to liquidations of mainly long positions exceeding $1.6 billion on Friday and Saturday. Bitcoin has since somewhat recovered and is now up 1.3 percent to $65,111 over the past 24 hours. Another factor that will impact the crypto universe over the coming week is Bitcoin’s halving. “While positive in the long term, the halving could cause mild short-term turbulence due to block production slowdowns,” K33 Research writes. Bitcoin's halving is set to happen on Saturday. A bullish sun ☀️ shines over the global crypto market in the next 24 hours, signaling upside potential across the board, as cryptocurrencies rebound following the weekend’s selloff. Over a one-week horizon, the sunny trading conditions should prevail over most of the crypto universe. 🌤️ However, ATTMO indicates that Bitcoin, Uniswap and Avalanche will face bearish clouds, which means downside risks ahead over this medium-term time horizon. Follow us for more daily news and crypto weather news!
BITSTAMP:BTCUSD
by ATTMO
BTC Bullish ☀️ Over the Next Week - Further Upside LikelyThe cryptocurrency trend was positive over the past 24 hours ahead of Bitcoin’s halving next week and despite the release of higher-than-expected US inflation data that initially pushed prices lower. “Whether the Fed cut rates 25bps in June or not isn't the long-term driver of bitcoin prices right now. It's a marginal factor. ETF flows + rising deficits matter more, and they are lining up very well for bitcoin,” commented Matt Hougan, Bitwise Invest’s chief investment officer. The spot Bitcoin exchange traded funds (ETFs) approved in the US three months ago exactly recorded $124 million in net inflows on Wednesday. There are currently roughly 19,680,000 Bitcoins in circulation. “Investors in US ETFs own 838,730, or 4.3 %. If we exclude the BTC that has not moved in the last 3 years (9,650,000), the US ETFs own 8.4%. If we exclude the BTC that has not moved in the last 1 years (15,190,000), the U.S. ETFs own 18.7%,” the crypto profile @HODL15Capital noted. Quarterly regulatory filings starting to drip in also show that financial advisers have acquired spot Bitcoin ETFs. Signal Advisors, for example, reported that it holds more than 20,000 of BlackRock’s NASDAQ:IBIT ETF, BlockBeats reports. A bullish sun shines over the global crypto market in the next 24 hours, including Bitcoin and Ether, signaling upside potential. Over a one-week horizon, the trading conditions will be mixed with bearish clouds lingering over Uniswap, Polkadot, Ripple’s XRP and Binance Coin, indicating downside risks. The sun will, however, continue to shine over both Bitcoin and Ether over this medium-term time horizon. Follow us for more crypto news and crypto weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
BTC - Bullish Trend On For the Next 7 Days ☀️ Later today, a record worth of Bitcoin options, $9.5 billion, are set to expire, a factor that may cause volatility, The Block reports. The release of key US inflation data, the personal consumption expenditures (PCE) index, may also impact the crypto universe if the February data comes in above expectations. Analysts foresee the PCE index up 2.5 percent year-on-year, a level that remains above the Federal Reserve’s 2 percent target. Over the past 24 hours, price of Bitcoin was down 0.5 percent at $70,076, which is 5 percent below its all-time high reached mid-March. Yet, a bullish sun shines over most of the global crypto market, including Bitcoin and Ether, in the next 24 hours and week ahead. This signals further upside potential after a strong quarterly performance. Follow us for more crypto weather news and reports!
BITSTAMP:BTCUSDLong
by ATTMO
Bullish ☀️ Shines on ETH, Upside Potential For The Entire WeekThe deadline for the Securities and Exchange Commission (SEC) to decide whether to approve or reject eight spot Ether ETF applications on its table lapses in less than two months. However, there seems to be little contact with the concerned asset managers, contrary to last fall prior to the approval of the first nine spot Bitcoin ETFs in the US. “Re Eth ETF approval, we are holding the line at 25% odds altho tbh it is a very pessimistic 25%. The lack of engagement seems to be purposeful vs procrastination. No positive signs/intel anywhere you look. Personally hope they do approve it but it just ain't looking good,” Bloomberg’s ETF analyst, Eric Balchunas, said. The Chief Legal Officer of Grayscale, Craig Salm remains confident of their approval. “In the final months leading up to #Bitcoin ETF approval, @Grayscale and others received positive and constructive engagement from the SEC. We had thoughtful conversations and discussed the finer details of creation/redemption procedures, cash v. in-kind, APs, LPs, custody etc.” “All of these issues were figured out and are identical when comparing spot #Bitcoin to #Ethereum ETFs. The only difference is rather than the ETF holding bitcoin, it holds ether. So in many ways, the SEC already has engaged and issuers simply have less to engage on this time,” Salm added. The price of Ether fell 1.4 percent to $3,609 over the past 24 hours. Mixed trading conditions lie ahead for the global crypto market in the next 24 hours, with a bullish sun shining over Bitcoin and Ether. Bearish clouds, signaling downside risks, linger over Ripple’s XRP, Cardano and Binance Coin. The forecast is sunnier over a one-week horizon, with all cryptocurrencies covered by ATTMO likely to profit from upside potential, Ethereum included. Follow us for more crypto weather news and reports!
BITSTAMP:ETHUSDLong
by ATTMO
BTC Bullish Rally Before the Halving Event ☀️🚀Cryptocurrencies rebounded over the past 24 hours, after a week of profit taking and ahead of Friday’s options expiries. Almost $9 billion worth of Bitcoin options will expire then, an event likely to trigger price volatility, Deribit data shows. The price of Bitcoin rallied 5.5 percent to $70,862 over the past 24 hours, trading 4 percent below its all-time high. Bitcoin’s halving in less than a month’s time is another supporting factor. Read more about its halving here. “#Bitcoin has just caught traders off guard (as usual) with a huge rebound ascension to $70K. Why? Key #Bitcoin stakeholders had one of their single largest accumulation days in years. 51,959 collective #Bitcoin were accumulated . This translates to 0.263% of the entire currently available supply being accumulated in one day. As we close in on the final three weeks of the #halving on April 19th, it would be unsurprising to see these wallets continue to grow, resulting in a positive impact on #crypto-wide market caps,” the crypto intelligence firm Santiment said. The crypto universe is also boosted by comments from BlackRock’s Head of Digital Assets Robert Mitchnick. A modest concentration of Bitcoin in a portfolio can turn it into a diversifier, as the crypto coin generally is uncorrelated to other assets and has different fundamental drivers, CNBC quotes him as saying. A bullish sun, indicating upside potential, shines over the global crypto market and Bitcoin in the next 24 hours and coming week, ATTMO shows. Over a one-week horizon, the largest cryptocurrency should continue to profit from the bullish trading conditions. Follow us for more crypto weather and news reports!
BITSTAMP:BTCUSDLong
by ATTMO
ETH 24-Hour Upside ☀️ Consolidation in 3-7 Days ⛅A new Ether upgrade is being considered by its developers, just weeks after the successful launch of the Dencun upgrade on the Ether mainnet. The scope of the Electra upgrade, as this new upgrade is called, will be made in the coming 1-4 weeks, Christine Kim, Vice President at Galaxy announced. “There is the intention to have functional prototypes and devnets of Electra at some point in May and we're closing at the end of March,” according to the write up of the latest Ethereum developers’ consensus call. A bullish sun shines over the global crypto market in the next 24 hours, indicating upside potential for all coins covered by ATTMO with the exception of Dogecoin. Over the coming week, the trading conditions will be mixed with most coins continuing to profit from the bullish outlook. However, bearish clouds will linger over Ether, Cardano and Polkadot over this medium-term horizon, signaling a downward risk. Follow us for more crypto news and weather reports!
BITSTAMP:ETHUSD
by ATTMO
BTC - Bullish 🐂Vibes R Back 🌞 24H & 7D Upside PotentialOptimism about upcoming rate cuts by leading central banks as of June, may however continue to support the rebound witnessed over the weekend, with Bitcoin rising 4.9 percent to $67.251 over the past 24 hours. “It appears that Bitcoin is trying to break higher, and our upside targets of $83,000 and $102,000 could slowly be at play,” the Head of Research at 10x Research, Markus Thielen, said in his daily brief. The CEO of ARK Invest, Cathie Wood, remains ultra-bullish as for Bitcoin’s price development. “Since the Securities and Exchange Commission (SEC) gave institutions the green light to Bitcoin, if they were to allocate more than 5% of their portfolios to Bitcoin as we think they will – that would add $2.3M to the $1.5M price target we initially gave,” she is quoted as saying by CryptoSlate during a Bitcoin Investor Day held in New York on Friday. A bullish sun shines over the global crypto market in the next 24 hours, indicating upside potential for all coins covered by ATTMO, Bitcoin included. Over the coming week, the trading conditions will be mixed with most coins continuing to profit from the bullish outlook. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
BTC Losing 60K Support or Retracing in 3 Days? The cryptocurrency trend over the past 24 hours was sharply negative, as investors await the Federal Reserve’s interest rate projections on Wednesday. A rate cut is not on the cards, but comments about the timing and speed of the rate cuts expected later this year are eagerly awaited. The price of Bitcoin dropped 4.9 percent to $65,113 over the past 24 hours, 12 percent below its all-time high reached last Thursday. Bearish clouds, rain and even storms linger over the global crypto market in the next 24 hours and over a one-week horizon, with none of the crypto tokens covered by ATTMO being spared. Downside risks predominate in the short term but looks like some sun is about to shine on Bitcoin in 3 days, signaling a slight and potential recovery. Follow us for more crypto news and weather reports!
COINBASE:BTCUSD
by ATTMO
BTC Slightly Bullish 24H ☀️; Bears Back in 3Days ☁️Cryptocurrencies regained some strength after having dropped sharply on Friday and over the weekend, with Bitcoin trading 7 percent below its all-time high (ATH) of $73,628 reached on Thursday. This volatility triggered liquidations of long positions of almost $900 million. The inflow of assets into the nine spot Bitcoin exchange traded products (ETFs) launched in mid-January is one of the factors that has driven the price of Bitcoin up over the past weeks. The price of Bitcoin increased 4.6 percent to $68,550 over the past 24 hours, and is up 32 percent over the past month. “Bitcoin started to sell off on Friday morning Asia time when Fidelity reported only $14m of inflows (for Thursday) vs. $280m the prior day. Bitcoin traded at $72,000 when the number came out. When BlackRock reported inflows of just $140m for Friday, Bitcoin sold off over the weekend. As Bitcoin broke the uptrend, liquidations were triggered, and Bitcoin fell to $65,000,” noted the Head of Research at 10x Research, Markus Thielen, who expects a further decline down to $59,000. The data analytics firm CryptoQuant points out that it’s largely short-term Bitcoin investors, those having held the token for less than five months, that are taking large profits right now. According to ATTMO, bullish sun will shine over Bitcoin in the next 24 hours. However, over a one-week horizon, bearish clouds will sweep in over a large part of the crypto universe and Bitcoin and most alts will face downside risks. Follow us for more crypto weather reports!
BITSTAMP:BTCUSD
by ATTMO
BTC Downside Risk and Bearish Trend for the Next 7 Days 🌧️The cryptocurrency trend was sharply negative over the past 24 hours, as the latest US macro data signal further reasons to delay the long-awaited rate cuts. After reaching another all-time high (ATH) on Thursday, Bitcoin fell below the $68,000 threshold for the first time since March 8. Investor sentiment dipped on the news, dragging down both stocks and cryptocurrencies. Bearish clouds have swept over the global crypto market. The negative trend will persist for the next 24 hours and week, signaling downside risks for Bitcoin, Ether and most other tokens covered by ATTMO. Only Avalanche and Polkadot are set to profit from a bullish sun and upside potential in the next 24 hours, before the bearish clouds reach them as well. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDShort
by ATTMO
BTC Rally Continues? ☀️ Week Ahead? The upward trend of cryptocurrencies continued, with Bitcoin reaching yet another all time high this morning at $73,777. The world’s largest cryptocurrency has rallied 74 percent since the beginning of the year compared to the S&P 500’s and Nasdaq’s 9 percent and the Nikkei’s 28 percent. Bitcoin will continue to profit from a bullish sun in the next 24 hours and week, indicating further upside potential, ATTMO shows. “As #Bitcoin now closes in on its final 5 weeks before the highly anticipated #halving, its price action and continued #AllTimeHigh levels are major topics. #Blackrock and #AI assets are also gaining crowd interest & having an impact on #cryptocurrency,” the crypto analytics firm Santiment said. “This Bitcoin bull market is not over,” said Head of Research at 10x Research, Markus Thielen, adding Bitcoin has the potential to climb to $146,000 by this summer. The digital asset research consultancy, however, sticks to a $125,000 price target. The price of Bitcoin rose 0.5 percent to $73,326 over the past 24 hours. Some believe that the current rally is driven by a wider adoption of crypto assets following the approval of spot Bitcoin exchange traded funds (ETFs) in the US. The approval has been seen as an endorsement of digital assets by the regulator. “All of a sudden, the US has broadly embraced Bitcoin… Americans like Bitcoin and digital assets. This will be an issue for the Democrats . Baby Boomers are putting in small amounts in ,” Mike Novogratz, the CEO of the crypto Investment firm Galaxy Investment Partners told CNBC. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
ETH - Up or Down Post Dencun Upgrade?The highly awaited implementation of Ethereum’s Dencun upgrade just happened. It will not only drastically cut the Ethereum blockchain’s transaction costs (gas fees), but also optimize data storage. Read more about the upgrade’s positive implications for users, developers and the Ethereum ecosystem as a whole here. The price of Ether rose 0.8 percent to $4,058 over the past 24 hours. The bullish sun continues to shine over large parts of the global crypto market, including Bitcoin and Ether, in the next 24 hours and week. This signals further upside potential, according to ATTMO. Avalanche bucks this positive trend and will face bearish clouds or downside risks in the 24 hours ahead. Follow us for more crypto news and weather reports!
BITSTAMP:ETHUSDLong
by ATTMO
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BTC 🌞 Upside, Timeframes Prove That the Bullish Run Continues! The crypto rally witnessed since mid-January continues unabated. The price of Bitcoin reached another all-time high at $72,800 on Tuesday, and is now up 70 percent since the beginning of the year. Parts of this massive rise has been driven by record inflows into digital asset funds such as the nine spot Bitcoin exchange traded funds (ETFs) approved by the Securities and Exchange Commission (SEC) two months ago. “BTC ETF volumes have been soaring, we’re due for a halving and the broader crypto market is following BTC's lead (as has historically been the case),” the CEO of Ripple Labs, Brad Garlinghouse, said. Ripple is the issuer of the cryptocurrency XRP, which saw its price rise 15 percent to $0.698 over the past 24 hours. Last week, weekly inflows into digital asset investment products reached a whopping $2.7 billion. This brings the total inflow since the beginning of the year to $10.3 billion, just below the record $10.6 billion inflows for the whole of 2021, CoinShares reports. A bullish sun will shine over both Bitcoin and Ether in the next 24 hours and week, indicating further upside potential, ATTMO forecasts. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
ETH to $4,000 Before Dencun Upgrade? ☀️☀️☀️The price of Ether rose 1.2 percent to $3,854 over the past 24 hours ahead of the implementation of its Dencun upgrade next week. This upgrade will slash Ether’s transaction fees (also known as gas fees) which currently are at the highest level since May last year.  Separately, the SEC is seeking comments on BlackRock and Fidelity’s spot ETH ETF applications, notably asking whether Ether’s proof of stake mechanism and concentration of control raise concerns about potential fraud and price manipulation. Interested third parties have 35 days to file their comments. “I think it is inevitable Ether is next,” the co-founder and co-CEO of HANetf Hector McNeil told cryptonews. “If Bitcoin can be approved and meets all the liquidity and asset class thresholds then Ether qualifies.” A bullish sun continues to shine over Bitcoin and Ether in the next 24 hours and week, signaling additional upside potential. Litecoin, Binance Coin, Polygon and Uniswap should also benefit from this positive trading trend, ATTMO shows. Dogecoin, Avalanche and Polkadot face bearish clouds and downside risks over the next 24 hours but should profit from the bullish sun over the longer one-week horizon. The opposite is expected for Ripple’s XRP and Cardano, where there is upside potential in the short term and downside risks in a week’s time. Follow us for more crypto news and weather reports!
BITSTAMP:ETHUSDLong
by ATTMO
1
BTC to Reach ATH This Week? ☀️The crypto analytics firm 10x Research expects Bitcoin to reach an all-time high this week. Cryptocurrencies extended their gains over the weekend, supported by the all-time high reached by Nasdaq on Friday. The tech-heavy index and the price of Bitcoin tend to correlate with each other. The price of Bitcoin rose 2.8 percent to $63,570 over the past 24 hours, approaching its cycle high of $64,255 reached last week. “This is probably the first time in the history of bitcoin that we have true price discovery. This is the first time that anyone who wants to buy has easy access to buy it … There’s a new army of buyers. There’s an army of salespeople,” the CEO of Galaxy Digital, Mike Novogratz, told Bloomberg. Google’s search rankings for Bitcoin confirms this increase in interest. “The retail is waking up, and we are beginning to build momentum. Google search interest has not even topped Jan highs but it is getting close,” the X profile @Sinz_Bitguide noted. As predicted by ATTMO, the bullish sun will continue to shine over the global crypto market in the next 24 hours and week, indicating further upside potential for Bitcoin, Ether, Ripple’s XRP, Cardano and many other altcoins covered by ATTMO. Follow us for more crypto weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
BTC Goes Higher - ☀️ & Bullish Potential for the next 7 days? A bullish sun will shine over Bitcoin in the next 24 hours and week, indicating additional upside potential. The cryptocurrency trend was positive over the past 24 hours, driven by the strong quarterly results released by the American chipmaker Nvidia yesterday evening. The institutional digital asset summit held by BlackRock later today may push the price of Bitcoin further up. The world’s largest asset manager is expected to promote its spot Bitcoin exchange traded fund (ETF), NASDAQ:IBIT , to institutional investors during this event. Assets under management in this ETF reached $6.3 billion five weeks after its launch in mid-January. The market capitalization of cryptocurrencies is now oscillating around $2 trillion, with that of Bitcoin representing half of it. The price of Bitcoin rose 0.1 percent to $51,839 over the past 24 hours. The Head of Research at Fundstrat, Tom Lee, expects this price to reach $150,000 during 2024, he said when interviewed by CNBC. Its price will be buoyed by the launched spot Bitcoin ETFs in the US, Bitcoin’s upcoming halving in April as well as upcoming rate cuts, Lee said. Follow us for more crypto weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
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XRP Downside Risks 24h & 3D ☁️; Price Recovery in 7 Days? ☀️John Deaton, a pro-crypto lawyer, confirmed that he will run as Republican Senate candidate in Massachusetts against the incumbent Senator, Democrat Elizabeth Warren. “I’m excited for the opportunity to fight for change, and for the people of Massachusetts in the United States Senate,” he said. Deaton represents over 75,000 XRP holders as amicus counsel in the ongoing court battle between Ripple Labs and the Securities and Exchange Commission. The price of XRP fell 3.3 percent to 54 cents over the past 24 hours. Trading conditions for XRP are going to be mixed over the next couple of days. Further downside is forecasted by ATTMO for the next 24 hours and 3 days, with some returning over a one-week horizon. Follow us for more crypto weather reports!
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by ATTMO