The BTC exchange rate rose to 30,704 USD on Monday, with the flagship cryptocurrency gaining 1.4% during the week. Overall, last week was a relatively calm one for BTC.
From a fundamental perspective, the crypto sector has strong support from large funds. Previously, news emerged that Fidelity had filed another application with the SEC to create a spot fund ETF. The SEC has already received similar applications from BlackRock and others. However, later, the SEC announced that all these applications needed to be adjusted as they were not clear enough. The companies quickly responded by withdrawing their applications for modification. These things happen, there is nothing critical about them. It is positive that the SEC is actively engaging with businesses and is maintaining a dialogue at least at this level.
In addition, there is news about the launch of new ETHBTC futures by the CME platform.
The technical outlook remains favourable for a rise towards the 33,000 USD target.
The total capitalisation of the cryptocurrency market increased to 1.210 trillion USD. The share of BTC decreased to 49.4%, while the share of ETH rose to 19.4%.
Cryptocurrency exchange Binance is considering the UAE as the primary destination for the development of the digital asset industry. The country could become a key hub for the company’s core business in the future. Previously, Binance decided against listing anonymous tokens in several European countries.
MicroStrategy, a provider of analytical software equipment, bought an additional 12,333 BTC between 29 April and 27 June. The transactions amounted to 347 million USD, meaning the average BTC price was 28,136 USD.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
By RoboForex Analytical Department The NZD/USD pair has fallen to 0.5590 as of Friday, marking…
By JustMarkets The US stock market did not trade yesterday. Today, important data on the…
By ForexTime *Note: This report was written before the US NFP data was published* US30…
By JustMarkets At Wednesday’s close, the Dow Jones Industrial Average (US30) added 0.25%, the S&P…
By ForexTime GBPUSD hits lowest level since November 2023 Sterling expected to be most volatile…
By RoboForex Analytical Department The USD/JPY pair remained near the 158.00 mark on Thursday, consolidating…
This website uses cookies.