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Summary
Bitcoin (BTC) is currently trading at $69,630, experiencing a slight downward correction from the $70K mark. Price stability is expected to continue as the market awaits the SEC decision on VanEck’s spot ether ETF application. Despite recent fluctuations, positive sentiment prevails in the crypto industry.
Introduction
Bitcoin’s price stood at around $69,500 early Thursday with minimal movement. Resistance above $71,500 caused a dip below $70K, even after reaching a weekly high above $71K. The current price dip coincides with Bitcoin Pizza Day and reflects a 0.65% decrease in the past 24 hours.
Main Points
If BTC remains above $79,500, it could face resistance at $70,850 and $71,160 before potentially reaching $72,540 and $73,100. Long-term price predictions suggest BTC could surge to the $80K-$100K range. Conversely, failing to surpass $70,850 may lead to support levels at $68,900, $68,310, and $67,220, possibly dropping to $66,000.
Conclusion
Analysts foresee a bullish trend for Bitcoin throughout 2024, with prices likely surpassing $72K. Bitcoin spot ETFs are witnessing positive net inflows, with the market showing resilience and potential for further growth despite temporary setbacks.
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