Bitcoin price once again nears the $64,000 mark, and volume in the spot Bitcoin ETF channel is reviving. Recent statements have slightly eased geopolitical risks, while concerns about new fronts opening in the Middle East are diminishing. Today, we mentioned that demand in the spot Bitcoin ETF channel could increase.
Bitcoin (BTC) On the Rise
BlackRock’s spot Bitcoin ETF reached over $430 million in volume in about an hour. This detail supporting BTC‘s rise led to a 5% increase in ETF prices, promising for the coming hours. If IBIT reaches significant volume today and sees strong net inflows before Asian markets open, a turnaround scenario for BTC could activate.
In the last 24 hours, BTC price fluctuated between $59,678 and $63,970, and at the time of writing, it stands at $63,500. What are the current predictions for SOL, DOGE, and XRP in a potential rise scenario?
Solana (SOL)
Approaching the resistance of the $112 parallel channel, the price bottomed at $116. SOL Coin remains above $128 for now, ready for further rise. If BTC continues its strong stance, we could see new attempts towards $152 with closures above $141. We are in an uptrend, and despite fluctuations in Bitcoin price, SOL Coin remains strong.
Dogecoin (DOGE)
After the drop on March 20, DOGE price made a higher bottom. This is relatively positive despite the overselling on the BTC front. $0.142 is maintained as support, and reclaiming $0.16 could target $0.20 for DOGE price. Above this, resistance lies at $0.23 and $0.27, followed by $0.30. A strong rise should start once the key $0.30 zone is reclaimed.
XRP Coin Commentary
Ripple (XRP) bulls remained weaker, and we saw a deeper bottom than the drop on March 20. XRP Coin price, which dipped below $0.48, has now reclaimed $0.50. As it was oversold, its price is cheaper compared to other pairs from March levels. If closures above $0.51 start, XRP Coin could target $0.548 and $0.61.
As of the time of writing, BTC was attempting to surpass $64,000.
