Bitcoin
Bitcoin (BTC) News Today: Investor Anxiety Grows, BTC Drops Below $64,000
Bloomberg Intelligence ETF analysts James Seyffart and Eric Balchunas anticipate an SEC approval before the July 4th holiday in the US. However, Balchunas does not expect the US ETH spot ETF market to enjoy the same level of success.
Balchunas recently he said,
“I still think eth will be lucky to get 20% of the btc etfs increase. We’ll see…”
Technical analysis
Bitcoin Analysis
Bitcoin remained comfortably below the 50-day threshold EMA but remained above the 200-day EMA, affirming bearish signals in the short term but bullish signals in the long term.
A BTC breakout of the $64,000 resistance level could give bulls a run at the 50-day EMA. A break above the 50-day EMA could signal a move towards the $69,000 resistance level.
On Monday, US economic indicators, Fed talks, and US BTC spot ETF market flow data require investors’ consideration.
Conversely, a drop below the $62,000 support level could signal a drop to the $60,365 support level.
With a 14-day RSI reading of 30.92, BTC fell below the $62,000 level before entering oversold territory.