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For a while, Bitcoin price has achieved significant gains with recent developments and is targeting the ATH region again. Closing above $70,000 has turned most altcoins green today. BNB Coin, one of the largest altcoins by market value, has reached a new all-time high. So, what are the predictions for BTC and ETH?
Bitcoin (BTC)
On June 4, Bitcoin (BTC) broke the symmetrical triangle formation, ending the uncertain environment. The 20-day exponential moving average ($68,135) is gradually rising, and the increase in RSI is positive. The current outlook, which indicates an advantage for the bulls, could trigger new tests towards $73,777.
Depending on whether the price sharply drops at $73,777, attempts at new peaks may begin. Closing above the current ATH level has the potential to start a new move towards $80,000 and $88,000.
Strong inflows into spot Bitcoin (BTC) ETFs continue to be noteworthy. According to data shared by Farside Investors, the largest net inflow of $887 million was seen on June 4, reflecting traditional market investor appetite. These data, which also support investors in crypto exchanges, may help break the ATH level this time.
Ethereum (ETH)
ETH climbed to the $3,800 threshold following signals of the latest ETF approval. Since then, it continues to trade in this narrow range. The solidification of the $3,730 support and the current outlook on the BTC front are positive. On the other hand, we may see the upper resistances tested with the clarification of the ETF launch date.
If the price falls and drops below the 20-day EMA ($3,652), we will see the bulls give up. In the event of a sell-the-news scenario with the clarification of the ETF launch date, the price could drop to this level. In larger sales, a decline to the 50-day average ($3,310) and $2,850 is expected.
After a sell-the-news scenario or if the rise continues directly, there could be a new attempt towards $4,100 and $4,868. Volumes are strong, and cash flow into altcoins continues.
