Published on juli 29, 2024, 12:34 am
Image source: Fox News
```json [ "Bitcoin is close to reaching $70,000, possibly boosting interest in altcoins like XRP, KAS, STX, and JASMY.", "Positive sentiment surrounds Bitcoin as it rebounds with more positive comments compared to negative ones since March 2023.", "Short-term traders aim for a new Bitcoin all-time high while long-term investors have ambitious targets for the cryptocurrency.", "Ether (ETH) saw a 7% decline due to net outflows from exchange-traded funds despite Bitcoin's positive trend.", "Resistance was met in pushing Bitcoin to $70,000, which is supported by moving averages. If breached successfully, price could target $72,000 to $73,777 resistance zone.", "Altcoins such as XRP consolidating, KAS facing resistance but supported by buyers, STX breaking downtrend line indicating potential uptrend, and JASMY showing buyer interest after a fall." ] ```
Bitcoin is making significant strides towards hitting the $70,000 mark, which could trigger increased interest in altcoins such as XRP, KAS, STX, and JASMY. The overall sentiment surrounding Bitcoin appears positive as it rebounds from recent lows. Market analysts have noted a surge in positive comments compared to negative ones, signaling a heightened optimism towards Bitcoin since March 2023.
While short-term traders are eyeing a new all-time high for Bitcoin, long-term investors are setting ambitious targets for the cryptocurrency. Anthony Scaramucci, founder of SkyBridge Capital, even suggested that Bitcoin’s market capitalization might surpass that of gold—a testament to the bullish outlook on Bitcoin’s potential.
On the flip side, Ether (ETH) has seen a decline of over 7% this week due to net outflows from Ether exchange-traded funds. Despite Bitcoin’s bullish trend, Ether seems to be facing some negative sentiment within the market.
The push for Bitcoin to reach $70,000 saw resistance on July 27 but remains supported by an upward 20-day exponential moving average and a positive relative strength index. If the price continues its upward trajectory and breaches $70,000 successfully, we could see it heading towards the $72,000 to $73,777 resistance zone.
Looking at altcoins, XRP has been consolidating within a range while KAS faced resistance at $0.19 but remains optimistic with strong buyer support. STX broke above a downtrend line recently, hinting at an end to the downtrend. Similarly, JASMY experienced buying interest after falling below $0.027.
As with any investment decision in cryptocurrencies or trading moves discussed here involving risk factors not explicitly mentioned in this article, readers must exercise caution and conduct their own thorough research before proceeding.
Original article posted by Fox News
