Mudrex co-founder and CEO Edul Patel shared with ABP Live that Bitcoin has climbed past $62,000 in the last 24 hours. This surge is due to investors returning to spot Bitcoin ETFs and an increase in the USA’s real GDP. The next target for BTC is $62,700, with support around $61,400, and bulls are actively buying at these levels. Meanwhile, Ethereum saw a 3% rise as it anticipates the spot Ether ETF approval by July 4th. Additionally, Solana jumped 9% following VanEck’s filing for a Solana ETF.
Bitcoin Soars Above $60,000
Bitcoin has been climbing higher and recently passed $62,000. This increase is because more people are buying spot Bitcoin ETFs and the USA’s economy is doing better. The next challenge for Bitcoin is to reach $62,700, with support around $61,400. Buyers are actively supporting these levels.
Ethereum’s Rise and Upcoming ETF
Ethereum’s price has gone up by 3% as investors look forward to the approval of the spot Ether ETF by July 4th. This new ETF is expected to bring a lot of money into Ethereum, even though it might not offer staking rewards.
Solana’s Big Jump
Solana saw a 9% increase after VanEck filed for a Solana ETF in the U.S. This news pushed Solana’s price to $148. This follows a similar Solana ETF launch in Canada just six days earlier.
Bitcoin and the U.S. Debate
Bitcoin gained some attention as investors expected the cryptocurrency to be a hot topic in the Biden vs. Trump debate. Even though it wasn’t mentioned, Bitcoin managed to stay above $60,000. Analysts think this stable period might continue for a few more weeks.
Ethereum ETF Launch on July 4th
The upcoming launch of the Ethereum ETF on July 4th could be a game-changer. Experts believe Ethereum prices could go above $5,000 soon after the ETF starts.
More People Owning Whole Bitcoins
A significant milestone was reached with over one million addresses now holding at least one whole Bitcoin. This shows growing confidence in Bitcoin as a long-term investment. Bitcoin’s limited supply of 21 million makes it more valuable. Currently, Bitcoin is trading at $61,585 with a market cap of $1.21 trillion. It faces resistance at $62,700 but shows potential for further gains.
Reference: adp
