Crypto prices creep higher as analysts grow increasingly bullish at the prospect of a spot BTC ETF being approved. Stocks sink after hawkish comments from Powell.
- Cryptocurrency prices crept higher on Thursday as Monday’s false spot Bitcoin ETF story managed to reignite interest in the top cryptocurrency, with multiple analysts saying BTC could quickly climb into a range between $42,000 and $56,000 after the approval of a spot ETF does take place.
The hawkish tone pushed many traders to exit the market, resulting in a negative close for the S&P, Dow, and Nasdaq, which finished down 0.85%, 0.75%, and 0.96%, respectively. According to market analyst Pentoshi, Bitcoin is “looking good so far,” and $29,300 is a “Key spot on low-mid time frame.”“If we do end up rejecting there, I wouldn't be surprised to see some sort of fake head and shoulders setup where the timeline calls for much lower just to get again.”
#Bitcoin is holding above the short-term holder realized price, a critical sign of an uptrend or a bull market.$BTC=$28,770Smells bullish. pic.twitter.com/PfdqFBm3jv
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