Tag: Analyst

Bitcoin BTC Price Hovers Over $30.2K After Expected Correction. Retail Investor Enthusiasm ‘Likely to Increase’: Analyst

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“Looking ahead, with no major scheduled events or economic data releases this week, we anticipate that price action in the market will be influenced by open interest levels, reflecting trader sentiment, and trending topics such as memes and artificial intelligence,” Johnny Teng, Senior Researcher at LBank Labs, said in a note. “As retail traders may have missed out on last week’s price movement, their enthusiasm to participate in the market is likely to increase.” Original

BTC price due for $31K as analyst says ‘disinflation’ boosting Bitcoin

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Bitcoin (BTC) looked set to challenge range highs on July 13 as fresh macroeconomic data boosted risk asset bulls. BTC/USD 1-hour chart. Source: TradingView PPI shows U.S. inflation retreating beyond expectations Data from Cointelegraph Markets Pro and TradingView followed the market as the BTC price focus shifted above $30,500. PPI inflation leads CPI by a few months… and today’s PPI numbers have YoY running at +0.24% Almost in deflation! Fed pivot anyone? https://t.co/oM4ck5Vgwy pic.twitter.com/Xl78ohLzOM — tedtalksmacro (@tedtalksmacro) July 13, 2023 United States Producer Price Index (PPI) numbers released on the…

BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says

$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas.  That is the estimated amount of assets controlled by financial advisors in the U.S., who would be willing to get exposure to Bitcoin through a regulated exchange-traded fund.   “ETF is the format in which the boomers and the financial advisors prefer their investments delivered in”, Balchunas explained in an exclusive Cryptox interview.  Blackrock’s application for a Bitcoin…

Bitcoin analyst flags $32.5K launchpad zone for BTC price

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Bitcoin (BTC) bulls fought for $31,000 on July 4 as a United States market closure offered the chance for volatility. BTC/USD 1-hour chart. Source: TradingView Bitcoin price “getting ready to rip higher” Data from Cointelegraph Markets Pro and TradingView showed BTC price action attempting to cement overnight gains. These topped out near $31,400 before momentum waned, leaving BTC/USD still within a narrow trading range. Despite no new yearly highs yet, market participants were bullish on lower timeframes based on recent behavior. Trading suite Decentrader even argued that Bitcoin was “looking…

BlackRock has ‘50% chance’ of getting spot Bitcoin ETF approved: Analyst

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Investment management firm BlackRock has a 50% chance of getting its spot Bitcoin (BTC) Exchange Traded Fund (ETF) approved, says Bloomberg’s senior ETF analyst Eric Balchunas.  Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chances of Grayscale winning its case against the SEC at 70%. Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock’s ETF as…

Analyst Suggests Replacing FAANG with MATANA in Hierarchy of Stocks

Ray Wang, Constellation Research Principal Analyst, believes that due to market changes FAANG should be replaced with MATANA in stock ranking. In the ever-evolving tech world, the dominance of FAANG – Facebook Inc, now Meta Platforms Inc (NASDAQ: META), Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX), and Google alongside its parent company Alphabet Inc (NASDAQ: GOOGL) – has been unquestionable. However, as the sector evolves, some experts suggest that it is necessary to rethink the hierarchy and put a new lineup at the top even before earlier…

‘Pick your targets’ — Bitcoin analyst believes Fed will favor bulls

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Bitcoin (BTC) stayed below $25,000 on June 15 after a snap reaction to United States economic policy changes saw three-month lows. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Hawkish Powell “all bark, no bite” Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it consolidated after the prior day’s losses totaled over 3%. The U.S. Federal Reserve had delivered an expected pause in interest rate hikes — its first since 2021 — while keeping the mood hawkish. Fed chair Jerome Powell suggested that fresh hikes may be necessary…

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

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Bitcoin (BTC) fell to multi-day lows at the June 5 Wall Street open as action heated up on exchanges. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Van de Poppe: Trend line failure could mean “bottom isn’t in yet” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $26,640 on Bitstamp. Down nearly 3% versus the weekend’s highs, the pair looked weak as key support lines inched closer. Among these was the 200-week moving average (MA), now at $26,400, which had weathered repeated tests to stay as support…