CryptoX – Cryptocurrency Analysis and News Portal Investors are still gauging macroeconomic factors, one observer said. Source The post Bitcoin, Ether Coil as Crypto Traders in Limbo After Halving appeared first on CryptoX. CryptoX Portal
Still, the bank says that the bad news is already priced in for bitcoin and ether, and “positive structural drivers” are expected to take over again. The company reiterated its end-of-year bitcoin price target of $150,000 and its ether forecast of $8,000. Bitcoin was trading around $66,800 and ether was near $3,237 at publication time. Market positioning is now much cleaner than before, as $261 million of leveraged long positions were removed from the bitcoin futures market on April 13 in response to Iran’s attack on Israel, the report noted.…
In the lead-up to going live, ZKasino opened up a token bridge that allowed investors to deposit ether (ETH) to earn ZKAS, the platform’s native token. Originally, the website said that bridged ether would be “returned” once the bridging period was over, that wording has since been removed. Source
“If bitcoin can hold above this level, it keeps the direct focus on that next push to a fresh record high and towards $100,000,” Kruger said. “If on the other hand we see more downside pressure that translates to a breakdown below $59,000, this will delay the short-term bullish outlook and open the door for a more meaningful correction into the $45,0000-50,000 area.” Source CryptoX Portal
“If bitcoin can hold above this level, it keeps the direct focus on that next push to a fresh record high and towards $100,000,” Kruger said. “If on the other hand we see more downside pressure that translates to a breakdown below $59,000, this will delay the short-term bullish outlook and open the door for a more meaningful correction into the $45,0000-50,000 area.” Original
The three-month ETH call-put skew flipped negative early today for the first time since January, indicating a bias for put options expiring in 90 days, according to data source Amberdata and crypto exchange Deribit. Puts offer protection to the buyer against price slides, while calls do the opposite. Source
Some other catalyst needs to happen before bullish sentiment returns, says one trader. Original
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…