Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on the Stock Market, trading, and all things Wall Street. Today, we’re diving into the US BTC-spot ETF market and the recent developments in the ETH-spot ETF market that you need to know about.
In May, the resilience of the US BTC-spot ETF market was truly noteworthy. However, it’s crucial to also keep an eye on the news coming out of the ETH-spot ETF market for potential opportunities.
Let’s start with some technical analysis. BTC has been holding strong above both the 50-day and 200-day EMAs, which is a bullish sign for price movements. If BTC can break above the key $69,000 resistance level, we could see a push towards the all-time high of $73,808.
It’s important to consider factors such as SEC activity, market sentiment surrounding the Fed rate path, and any discussions happening in the BTC-spot ETF market as they could all impact price movements.
On the flip side, a drop below the 50-day EMA could open the door for bears to test the $64,000 support level. Keep an eye on the 14-Daily RSI reading, currently at 53.55, as BTC could potentially reach new highs before becoming overbought.
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