Bitcoin Moves Toward $70,000 Mark

King cryptocurrency turned its direction upwards to break free from a narrow range and is moving towards the $70,000 mark. We see that losses for altcoins are slowly starting to reverse. After the 3-year median interest rate forecasts are priced in for crypto, the roadmap will become clearer.

Bitcoin (BTC)

On June 7, a sharp drop from $72,000 began, which was not surprising. Despite the high unemployment rate, an extra 0.1% increase in wage growth and Non-Farm Payrolls coming in nearly 100,000 above expectations triggered sales. Is this a terrible thing? Not really, and the Fed will not want to magnify such small setbacks on this tough journey.

It is known that the Fed will not make a cut in June. The first cut is likely to be seen in September, but with the inflation data coming on Wednesday, investors will want to remain cautious for a few more days.

Bulls, finding strength from the 20-day EMA, are holding the $68,603 level, limiting the pullback. Today, with a return close to $70,000, we see that lower levels are being evaluated by buyers. If the scenario desired by the bulls occurs, a move to the $73,777 ATH and the main target of $80,000 may begin from here.

Beyond that, the $88,000 and the six-figure price targets that have been dreamed of since the beginning will come into play. However, if the support level is lost, a drop to $65,807 may deepen.

Fed expected volatility increase in the evening will form the short-term route with the struggles at this target.

BNB Coin Price Prediction

It finally succeeded and broke the all-time record. While the move towards $800 is expected to continue, BNB Coin faced sales on the last trading day of the week. Earlier in the day, when US data came in, we wrote that a new dip could be around $635 while the price was hovering around $700. After 3-4 hours, BNB Coin dropped to $658.

It also managed to attract significant buyers at lower levels and remains strong. As long as we do not see closures below $635, the target for BNB Coin is $775. Resistance can be seen at $695 and $722.