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The head of research for digital asset manager 3iQ wrote that the largest cryptocurrency by market capitalization is still riding tailwinds from multiple spot bitcoin ETF filings and other June events.
Buying for the trust has picked up on hopes the SEC might soon approve a spot bitcoin ETF.
The bank previously said it expected the cryptocurrency to reach $100,000 by then.
The latest price moves in crypto markets in context for July 10, 2023.
China is exporting deflation across the Western world. Ultimately this will be good for risk assets as it relates to the end of the global interest-rate increase cycle, one observer said.
PLUS: The dYdX Foundation's Charles d'Haussy says that dYdX's move away from Ethereum might be the beginning of a broader trend.
The Bureau of Labor Statistics will release the nonfarm payrolls report for June at 12:30 UTC.
Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said.
PLUS: Bitcoin tumbled below $30,000 for the first time in almost two weeks after a disappointing ADP private sector jobs report and ISM services index, but regained some ground later on Thursday.
- 07:56FTT briefly broke through $3.5, with a 24-hour increase exceeding 26.18%The market shows that FTT has briefly broken through $3.5, currently quoted at $3.53, with a 24-hour increase of 26.18%. The market fluctuation is quite large, please manage your risk well.
- 07:45Matrixport: The current market lacks positive news to support Ethereum's rebound, and Ethereum's dominance rate has once again declinedMatrixport released a chart today stating that the rebound of Ethereum and other altcoins seems to be fleeting, making it difficult to sustain an upward trend. Judging from the trend of Bitcoin's dominance rate, Bitcoin still firmly controls market discourse. The current market lacks obvious positive news to support Ethereum's continuous recovery. Investor sentiment tends towards conservatism, and Ethereum's dominance rate has fallen again. Since the launch of the Ethereum ETF in early summer 2024, this downward trend has gradually emerged. Even though these funds have attracted billions of dollars in capital inflows, they have not been able to change the downturn. For Ethereum investors, patience may still be needed. It is expected that by 2025, if the market environment is more favorable, Ethereum may welcome a new opportunity for growth, injecting confidence into the market and reversing its current slump.
- 07:37Santiment: Over the past two weeks, most investors' sentiment has shifted from bullish to bearish, with a sharp decrease in interest in Meme coinsSantiment posted on X stating: "Over the past two weeks, the sentiment of most cryptocurrency investors has astonishingly shifted from bullish to bearish. As market values have corrected (especially for altcoins), interest in Meme coins has significantly decreased, while interest in Bitcoin has noticeably rebounded. This kind of mass FUD is a healthy part of the cycle, and patient traders can take advantage of this high level of 'blood in the streets' to profit."
