Analyst outlines the future of bitcoin in light of the current correction

Cryptocurrency analyst Justin Bennett spoke about his vision of the recovery of bitcoin and the entire cryptocurrency market after a sudden correction, reduced its capitalization by almost $400 billions According to CoinGlass, positions worth more than one day were liquidated per day $882 million. Bitcoin has corrected by about 10%, and the rest of the market went down with it.. According to the analyst, if bitcoin does not hold the level $60 000, then it can expect a further decline to $55 000: "Apparently, candlestick & quot; bearish blockage" for BTC was a signal. Bitcoin has a lot of support around $60 000. If BTC can't come back higher $63 300, expect a decline to the level $55 000» Bennett emphasized, that cryptocurrency rates regularly fall by 20-30%, and BTC only on 12% below its maximum. To assess the state of the cryptocurrency market, Bennett monitors the US dollar index (DXY). Weak US dollar indicates higher prices for many assets, and a strong dollar signals a correction in the markets. According to him, DXY is moving in a large upward channel and is now at the resistance level, which can reverse motion: «DXY протестировал уровень сопротивления 95,8» Ранее Беннетт называл ослабление доллара в качестве потенциального катализатора, which can cause a sharp increase in bitcoin. He considers, that BTC will end the bullish cycle well above the level $200 000, …

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On the first day of operation, the Bitcoin ETF from VanEck attracted only $9,6 million

Фьючерсный VanEck Bitcoin Strategy ETF (XBTF) started working in the conditions of market correction and this did not have a very favorable effect on its results On the first day of trading, XBTF was sold 38 398 shares and the final price was $59,73 per share. According to VanEck, at the close of trading, the ETF had assets under management in the amount of $9,6 million. VanEck's application for a spot Bitcoin ETF was rejected on Friday, and Kyle DaCruz, the company's director of digital asset products, was disappointed with the decision.: “We were disappointed with the Bitcoin spot ETF decision and still consider it the best product.. but, despite this decision, it is important for us to bring a regulated bitcoin exchange-traded fund to the market. ", VanEck intends to continue work on bringing the spot product to the market, but doesn't know yet, when can it happen. VanEck's Bitcoin ETF currently has two competitors. Proshares Bitcoin Strategy ETF First Futures Product (BITO) attracted record-breaking $1,1 billion and since then has been stable at the level $1,05 billion. Launched three days later Valkyrie Bitcoin Strategy ETF (BTF) has under management about $50 million. VanEck ETFs have two advantages over their competitors: lower commissions (0,65 basis points versus 0,95 in …

On the first day of operation, the Bitcoin ETF from VanEck attracted only $9,6 million Read more

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