Published on juni 3, 2024, 12:33 am
Image source: Fox News
```json { "TLDR": "Bitcoin may trade sideways with resistance at $70,000; altcoins like BNB, AR, XMR, and TIA could see short-term gains. Investments in Bitcoin ETFs are increasing. Trader predicts potential high where 100 ounces of gold may equal one Bitcoin. Technical analyses suggest BTC aiming for $73,777-$80,000; BNB bullish towards $775; AR targeting $72; XMR eyeing $170; TIA possibly reaching $15.50-$18.50. The article does not provide investment advice." } ```
Bitcoin’s price action is expected to linger sideways for a while longer, while altcoins such as BNB, AR, XMR, and TIA could see short-term gains in the crypto market. The digital asset faces resistance at $70,000; however, the bulls remain resilient with only a slight decrease of under one percent this week.
Amid Bitcoin’s consolidating movement, investments into spot Bitcoin exchange-traded funds continue to rise steadily. Recent data reveals over $2.1 billion in net inflows into Bitcoin ETFs since May 14, indicating growing investor interest in accumulating Bitcoin ahead of a potential uptrend.
Renowned trader Peter Brandt expresses optimism towards Bitcoin compared to gold in the long run. He forecasts a potentially volatile ratio between gold and Bitcoin for the next 12-18 months before possibly witnessing a new high where 100 ounces of gold could be exchanged for one Bitcoin. Currently, it takes about 29 ounces of gold to acquire a single Bitcoin.
The article also delves into technical analyses of various cryptocurrencies:
– **Bitcoin (BTC):** Traders are closely monitoring if Bitcoin can break above the symmetrical triangle pattern to reach $73,777 or potentially surge to $80,000.
– **BNB:** Bullish momentum persists as BNB aims for an uptrend towards $775 if it breaks above key resistance levels.
– **Arweave (AR):** Buyers show significant strength as AR’s bullish trend targets $72 upon breaching resistance near $47.51.
– **Monero (XMR):** XMR showcases upward momentum eyeing a rally towards $170 after overcoming near-term hurdles.
– **Celestia (TIA):** TIA exhibits signs of an impending up move with potential rallies to $15.50 and later towards $18.50 upon surpassing overhead barriers.
While this information provides insights into possible cryptocurrency trends, readers are advised that no investment advice is provided in the article. Investing and trading always involve risks, necessitating thorough research before making any financial decisions within the dynamic cryptocurrency space.
Original article posted by Fox News
