Published on september 30, 2024, 12:26 am
Image source: Fox News
```json [ { "TLDR": "Bitcoin's impressive monthly performance is setting the stage for potential bullish movements in altcoins like XRP, TAO, RUNE, and SEI. Positive sentiment in the cryptocurrency market with significant inflows into U.S.-based Bitcoin ETFs. Crypto Fear & Greed Index at 63 on September 29th reflects greed territory. Retail traders are increasingly entering the market. Bitcoin remains strong above $65,000 levels with potential rally towards $70,000 expected but may face resistance at $70,000 - $73,777 zone. Altcoins like XRP, TAO, RUNE, and SEI show patterns and trends indicating possible upward movements. Investors advised to be cautious and conduct thorough research due to inherent risks in cryptocurrency investments." } ] ```
Bitcoin is showing signs of a remarkable monthly performance, setting the stage for potential bullish movements in altcoins like XRP, TAO, RUNE, and SEI. The cryptocurrency market is witnessing significant shifts as the sentiment turns positive with inflows of $1.1 billion into U.S.-based spot Bitcoin exchange-traded funds – the highest weekly flows since mid-July.
The Crypto Fear & Greed Index reflects this positive sentiment, entering the greed territory at 63 on September 29th. Retail traders are also increasingly entering the crypto space, as seen through heightened downloads of Coinbase’s official app on the Apple AppStore.
Bitcoin remains strong above $65,000 levels, indicating sustained bullish momentum. Should prices continue to rise, a potential rally towards $70,000 becomes more likely. However, a strong defense can be expected around the $70,000 – $73,777 zone.
Meanwhile, XRP has formed an ascending triangle pattern that could lead to a rally if it closes above $0.64. TAO rallied but faced resistance beyond $600 and continues to hold support at $530. On the other hand, THORChain (RUNE) has broken overhead resistance at $5 and aims for further gains.
Lastly, Sei (SEI) surged past its overhead resistance of $0.43 with indications of further upward movement towards $0.60 and beyond as bulls maintain control.
Investors should be cautious and conduct individual research before making any investment decisions as cryptocurrencies involve inherent risks in their volatility and market behavior.
Original article posted by Fox News
