Ethereum
Analyst Highlights Final Hurdle for King Crypto Before “Parabolic” Move — TradingView News
Major cryptocurrencies rose slightly as investors’ expectations of lower interest rates boosted investment in risky markets.
| Cryptocurrency | Earnings +/- | Price (recorded at 8:35 p.m. EDT) |
| Bitcoin | +2.66% | $70,619.64 |
| Ethereum | +1.80% | $3,816.76 |
| Dogecoin | +2.49% | $0.1618 |
What happened: Bitcoin surpassed $70,000 and generally kept gains around that level, while Ethereum consolidated after its peak of over $3,800. Previously, both assets faced strong resistance at these levels.
The rally resulted in liquidations worth $97 million over the past 24 hours, with short liquidations accounting for 62%.
This brief surge was enough to catalyze speculative markets. Bitcoin open interest jumped 5.85% to an all-time high of $37 billion, reflecting the influx of new money into the market.
The number of traders taking bullish long positions in Bitcoin has increased dramatically over the past 24 hours, with long positions outpacing short positions by a factor of 1.36.
Best winner (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 8:35 p.m. EDT) |
| COMPUTER (COMPUTER) | +20.55% | $57.22 |
| Uniswap (UNITED) | +20.16% | $11.41 |
| Battery (STX) | +14.23% | $2.16 |
The global cryptocurrency market capitalization increased by 2.46% to $2.62 trillion in the last 24 hours.
Stocks rose slightly on Tuesday. THE Dow Jones Industrial Average rose 140.26 points, or 0.36%, to close at 38,711.29. THE S&P500 gained 0.15% to end at 5,291.34, and the technology sector Nasdaq Composite added 0.17% to 16,857.05.
Treasury yields fell, with the benchmark 10-year falling 4 basis points.
The rally comes after job opening data for April was weaker than expected, falling to a three-year low. This has increased investor optimism that the Federal Reserve will cut interest rates.
Investors will be watching the important May jobs report due Friday to determine whether the Fed will take a more dovish approach.
See more : Best Cryptocurrency Scanners
Analyst Ratings: Popular Cryptocurrency Analyst Rekt Capital has signaled a final hurdle for Bitcoin before it enters the “parabolic” phase of the cycle.
The highlighted area is the crucial $72,000-$73,000 zone, which also includes its all-time high set in March.
Cryptocurrency Analyst Michael van de Poppe was bullish on Ether and predicted the upsurge will continue, helped by positive developments around spot ETFs.
$ETH has been trending higher with this 25% surge and is looking for a higher low.
S-1 filings are expected to be approved later this month and a stronger upward trend is expected to continue.
He looks very strong. pic.twitter.com/AeNyceaIHK
Read next: Mike Novogratz predicts Bitcoin will hit $100,000 by the end of 2024
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