Tag: Market

Global ETF market could hit $35 trillion by 2035

The global Exchange-Traded Fund (ETF) market could witness some remarkable growth over the next decade. Assets in the global ETF are projected to reach $35 trillion by 2035, tripling from their current $13 trillion. This prediction comes from Eric Balchunas, Senior ETF Analyst for Binance. “[ETFs] low-costs, intra-day liq, tax efficiency, flexibility etc. will continue to attract investor cash (and traders’ volume) which will result in more new products, innovative designs and more salespeople,” Balchunas posted on X. This forecast is based on a conservative 10% compound annual growth rate…

Bitcoin Technical Analysis: BTC Faces Downward Pressure Amid Market Uncertainty

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Bitcoin’s price on June 14, 2024, stands at $67,046, with intraday prices ranging from $66,425 to $68,506. The leading crypto asset’s market capitalization is $1.31 trillion, and the 24-hour trading volume is $23.92 billion. Technical analysis across multiple time frames indicates a prevailing downtrend, highlighting critical support and resistance levels for traders. Bitcoin Bitcoin’s hourly […] Original

Market Indicators Point to More Dips

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Ethereum price struggled to clear the $3,650 resistance. ETH started another decline and there is now a risk of more dips below the $3,420 support. Ethereum started a fresh decline below the $3,550 support zone. The price is trading below $3,540 and the 100-hourly Simple Moving Average. There is a crucial bearish trend line forming with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,550 resistance zone. Ethereum Price Struggle Continues Ethereum price failed to…

Pyth Network launches GMCI 30 crypto market index

The Pyth Network has announced the launch of the GMCI 30 Index Price Feed, making the GMCI crypto market price index accessible to over 60 blockchain ecosystems.  This launch is a step towards providing smart contract and blockchain developers with real-time financial data. “We are excited to announce that Pyth Network will be streaming GMCI index prices,” said Maarten Botman, CEO of GMCI. “This collaboration represents a significant step forward in our mission to become the benchmark of choice in the crypto space.” GMCI specializes in creating indexes for digital…

Study: Ordinals and Runes Reach $1 Billion Market Cap

In a significant milestone for Bitcoin-based non-fungible tokens (NFTs), the combined market capitalization of popular collections such as Ordinals and Runes has surged past $1 billion, according to Coingecko. This growth is underscored by increasing trading volumes and user adoption, signaling a robust expansion within the Web3 sphere. Report Reveals Emerging Dynamics in Bitcoin Ordinals […] Source CryptoX Portal

Bitcoin Price (BTC) Heads Lower in Crypto Market Slump

“$66K seems like equilibrium,” said well-followed analyst Skew in an X post, who along with others is trying to decode a market that won’t go sustainably higher despite a lot of recent bullish news: improving inflation data, a Bitcoin-friendly presidential frontrunner in Donald Trump, spot ETH ETF approvals, and other risk asset markets (namely U.S. stocks) ripping to new all-time highs. Source

UNI In Trouble? Key Indicators Cites Potential Drop Amid Market Downturn

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Uniswap (UNI), a prominent decentralized exchange token, is bracing for further declines as the broader cryptocurrency market experiences a significant downturn. Recent market trends indicate a continuation of bearish momentum, which has impacted UNI’s price negatively.  Several factors, including macroeconomic uncertainties, regulatory pressures, and shifts in investor sentiment, are contributing to this extended downtrend. As Uniswap’s price breaks key support levels, the likelihood of additional losses increases. This article delves into UNI’s price analysis with the help of technical indicators to determine the anticipated decline and provide insights into what…

Research analyst at Fineqia discusses the impact of spot ETFs on Bitcoin’s market dynamics

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Crypto.news recently sat down with Matteo Greco from Fineqia International to discuss the current state of the Bitcoin ETF market and what we can expect looking ahead. Bitcoin has emerged as one of the top-performing assets of the past decade.  It has transcended beyond its status as a lesser-known peer-to-peer payment system, catalyzing the creation of an entirely new asset class that now boasts a market capitalization exceeding $1 trillion. With the approval of 11 spot Bitcoin ETFs in January 2024, traditional investors now have an easier route to gain…

Bullish News: Top Analyst Forecasts Altcoin Bottom Today, Market Poised For Upswing

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In a recent social media post, renowned crypto analyst Michael Van de Poppe shared his predictions regarding the potential bottoming out of the altcoin market.  Van de Poppe emphasized the significance of key economic data and the upcoming interest rate decisions from the Federal Open Market Committee (FOMC), highlighting their potential impact on the crypto market. Altcoin Rally Ahead? CPI Data Points To Bullish Outlook Consumer Price Index (CPI) data revealed that US inflation had fallen to 3.3%, lower than expectations, which he deemed bullish news for the altcoin market.…

Crypto market rebounds on soft CPI data

Crypto markets jumped on June 12 after U.S. CPI numbers for May came in flat, fueling expectations for promising inflation data.   U.S. Consumer Price Index (CPI) data was unchanged last month, down from 0.3% in April. The year-over-year (YoY) CPI also dropped from 3.4% in April to 3.3% in May, besting predictions that data would remain the same.  Core CPI YoY levels declined from 3.6% to 3.4% last month, the lowest rate since April 2021. The general consensus estimated a 3.5% point for this index.  Following the improved data, the…