Recently, S-1 Forms for the ETH ETF were uploaded to the system, and now the launch is less than a week away. Everyone is eagerly awaiting July 23. On the other hand, the BTC price quickly returned to the $64,000 base after the US markets closed and is hovering around $64,300 as this article is being prepared. So, what are the expectations for the coming hours?
Cryptocurrency Commentary
BlackRock’s BTC ETF regained the $20 billion threshold after recent negative weeks. The company now has $20 billion worth of BTC under management again. ETF Store President Nate Geraci mentioned that the buyer interest is remarkable, judging by the heavy inflows.
Altcoin investors, expecting a new move to $70,000, are very excited. On the other hand, CryptoQuant’s CEO, who mentioned that 100,000 BTC were bought by institutions in a week, is certain about the continuation of the rise (for the medium term). Although he can’t state this very clearly for the short term, he believes the decline is now over.
Bitcoin and Ethereum Price Predictions
On July 15, the BTC price rose above $63,926 and climbed to $66,128 in the last 24 hours. This comeback, reflecting the bulls’ appetite for a return, was very exciting for investors. Significant increases were seen in some meme coins. If the BTC price can close above $64,000, there might be a new attempt at the $70,000 level.
In the opposite scenario, sales might continue to the SMA20 level of $59,952 with closures below the SMA50. There is no significant data flow on the macroeconomic front that could trigger a decline for a few days. MTGOX has made significant returns and continues to do so. Although Germany’s sales are over, it should be remembered that crypto can make unexpected good and bad surprises.
Things are going well for Ether, but the SMA50 level of $3,450 could not be maintained. Although the ETH price is expected to rise with the excitement of July 23, if there are massive oversells with ETHE and BlackRock and others can’t counter it, things might get complicated. Many investors who bought with a negative premium will have a good selling opportunity in the ETHE-coded ETF, which is converted from the Grayscale ETH Trust, at current levels.
The bulls might have a chance here to make an attempt at the $3,730 region by leveraging the enthusiasm. Then, the challenging resistance between $4,000 and $4,094 will be targeted. In the opposite scenario, closures below $3,228 could open the door to $2,850.
