Market picture
The cryptocurrency market has pulled back 0.7% to $2.37 trillion from local extremes in the last 24 hours while remaining around highs. This looks like localised profit-taking after the rally, but not exhaustion.
For Bitcoin, it is technically significant that the current consolidation around $64K is taking place above the 50-day moving average, making it support. The closest technical resistance looks to be the $67-68K area, where the upper boundary of the descending channel from March passes.
However, in our view, FOMO may come to the markets only after overcoming the $70K level, the last round mark before the historical highs. It looks to be a matter of weeks, but don't expect a smooth ascent - a definite selling overhang still exists.
Ethereum remains chained to its 50-day moving average, running just below $3500. News of a spot ETF is not pushing the price up yet. It seems that only actual buying, or rather even its accumulative effect, can do that, which will reduce the circulating supply of coins
风险提示:以上内容仅代表作者或嘉宾的观点,不代表 FOLLOWME 的任何观点及立场,且不代表 FOLLOWME 同意其说法或描述,也不构成任何投资建议。对于访问者根据 FOLLOWME 社区提供的信息所做出的一切行为,除非另有明确的书面承诺文件,否则本社区不承担任何形式的责任。
FOLLOWME 交易社区网址: www.followme.ceo