The digital currency world has been surprisingly tranquil over the last 24 hours, despite the wild ride of Bitcoin’s value as it hovers near the bottom of a bullish flag formation. Zooming in, the battle between Bitcoin and the US dollar has been fierce, with the former struggling to break through the formidable $67,200 barrier.
Bitcoin Bleed to Altcoins
Bitcoin’s recent halving event has caused a frenzy among short-term investors, who are now looking to diversify their gains by venturing into the altcoin market. Bitcoin’s dominance has taken a dip of over 2 percent, opening doors for altcoins to shine.
The ETH/BTC pair is showing a promising reversal pattern on both weekly and hourly time frames, hinting at an upcoming altseason. Keep an eye out for rising stars like Binance Coin, NEAR Protocol, and even the infamous meme coins – they might just surprise you.
High-Impact Events Ahead
Hong Kong has given the green light for the trading of spot BTC ETFs, adding to the recent bullish excitement sparked by the U.S. approval.
And as if that wasn’t enough, the highly anticipated third Federal Funds Rate will be announced on the first day of next month. Experts predict that the Fed will maintain its benchmark interest rate for now, but with potential cuts on the horizon later this year.
Key BTC Levels to Watch Ahead
Meet Captain Faibik, the renowned crypto guru who has been diligently tracking the ever-changing landscape of Bitcoin prices. With a wealth of technical knowledge and experience under his belt, he has uncovered a tantalizing prediction: the formation of a bullish flag, signaling an imminent uptrend for the digital currency.
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The flagship coin is currently in a thrilling phase of price discovery, having skyrocketed to an all-time high of $74k just last month.
The Analyst’s prediction for Bitcoin is causing a buzz in the market as it anticipates a thrilling rollercoaster ride. Brace yourself as the price is projected to dip to $61k, only to bounce back and soar to an all-time high of $86k.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.