Published on juni 11, 2024, 12:23 am
Image source: Fox News
```json ["TLDR: Bitcoin and Altcoins are sensitive to upcoming macroeconomic events. Bitcoin's bullish with increased investments, ETFs secure Bitcoins, aiming for upside breakout. S&P 500 at all-time high, Dollar Index rebounding. BTC targets $60,000 if falls below crucial levels. Ether struggles at $3,676, Solana vulnerable below $162. Toncoin positive at $10 prediction, DOGE stuck between $0.12-$0.18 levels, Cardano volatile. Caution advised in volatile crypto market."] ```
Bitcoin and other Altcoins are poised to be influenced by significant macroeconomic events scheduled for this week. The Federal Reserve’s press conference after the rate decision and the release of Consumer Price Index (CPI) data on June 12 might trigger increased volatility in Bitcoin.
Investors are eyeing a potential breakout to the upside, with last week seeing strong buying activity. Reports indicate over $2 billion flowing into digital asset investment products, totaling $4.3 billion over five weeks. Bitcoin ETFs secured 25,729 Bitcoins between June 3 and 7, slightly lower than May’s purchases but still showing demand outweighing supply.
In the stock market, the S&P 500 Index achieved a new all-time high last week, showcasing bullish control. Upward trends in the 20-day exponential moving average and positive relative strength index hint at further ascent towards 5,500 unless price levels drop below moving averages leading to potential liquidation.
The U.S. Dollar Index rebounded from a dip below 104 on June 3 and surged past the 50-day simple moving average on June 10. This rebound indicates short-term bearish pressure fading away due to purchasing activities potentially triggering optimism towards price levels of 105.75 and even up to 106.50.
For Bitcoin, maintaining levels above the 20-day EMA is crucial as it hints at continued bullish sentiment despite challenges in launching a robust rebound from current levels. A break below this level could push BTC/USDT down to the 50-day SMA before potentially sliding to $60,000.
Ether (ETH) struggles around the $3,676 mark with bears keeping pressure intact preventing pushing above $3,730 firmly. While Solana (SOL) seems vulnerable below $162 support line risking a plunge towards $140 unless buyers regain momentum above $176.
Toncoin (TON) demonstrated positive sentiments with traders buying upon price dips anticipating an escalation towards $10 while Dogecoin (DOGE) faces downward pressures possibly confined within its range until breaking out of established levels between $0.12 and $0.18.
Cardano (ADA) recently endured volatility falling below symmetrical triangle patterns extending risks of downtrend territory below certain support thresholds unless a rally beyond addresses these situations effectively Overall, cryptocurrencies face an eventful week dictated by various factors influencing their respective trajectories within the crypto space’s volatile nature; readers should conduct thorough research before any investment or trading decisions.
Original article posted by Fox News
