Bitcoin sees new all-time highs in 3 countries as BTC price pokes $31K

Cointelegraph2023-06-26 tarihinde yayınlandı2023-06-26 tarihinde güncellendi

Özet

Bitcoin (BTC) tapped $31,000 for a third time this year on June 25 as the weekly close promised volatility.

BTC/USD 1-hour chart. Source: TradingViewBTC price challenges $31,000
Data from Cointelegraph Markets Pro and TradingView showed BTC price movements focusing on yearly highs.
BTC price remained strong over the weekend, as attention focused on geopolitical events in Russia and surrounding states.
With tensions lessening on the day, curiosity over markets’ reactions at the June 26 open remained, with the weekly candle close — already a classic source of volatility — coming first.
In recent analysis, popular trader Rekt Capital put the “most bullish scenario” for the weekly as a close above the pivotal $30,000 mark.
#BTC has broken the multi-month downtrend (blue)

But if $BTC performs a Weekly Close like this - a new downtrend may form (black)

This could be the beginning of a new pattern

Lots can change before July

Most bullish scenario -> Weekly Close above ~$30,000#Crypto #Bitcoin pic.twitter.com/i9rdXCdymb
— Rekt Capital (@rektcapital) June 22, 2023
“BTC in mid-April rejected from $30,000 resistance. Let’s see if $BTC can turn $30,000 into support,” a further post added over the weekend.
Fellow trader Crypto Tony stayed hopeful for a trip to $32,000 next, should Bitcoin successfully consolidate near $31,000.
$BTC / $USD - Update

If Bitcoin can consolidate around these highs at $31,000, then a burst up to $32,000 will be no problem

I believe in the bulls pic.twitter.com/lOl7AQ6RIl
— Crypto Tony (@CryptoTony__) June 25, 2023
A slightly less confident Michaël van de Poppe, founder and CEO of trading firm Eight, called into question bulls’ ability to keep upside momentum going.
“Bitcoin made a nice high, through which it swept the yearly high,” he told Twitter followers.
“I'm unsure whether we'll continue running from here, but during uptrends you'll most likely see price continuing to run rather than have deep corrections. If we have a correction, $28,500 I buy.”
Van de Poppe repeated a popular downside target among market participants eager to “buy the dip” below $30,000.

BTC/USD annotated chart. Source: Michaël van de Poppe/TwitterBitcoin records keep tumbling
Despite the cool-off in volatility against the U.S. dollar, Bitcoin did manage to set new records in three countries this week.
In Argentina, Venezuela and Lebanon, BTC hit its highest-ever levels against the local currency.
For those countries, that trend has continued throughout 2023 as inflation and macroeconomic policy choices quickly erode purchasing power.
In Turkey, where the lira plunged to new lows against the dollar, BTC/TRY neared the area of its blow-off top from December 2021.

BTC/TRY 1-week chart. Source: TradingView
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

İlgili Okumalar

Solstice and Tensorx to Buy $1 Billion in AI Infrastructure to Support EU Sovereign AI Demand

Solstice and TensorX have announced a partnership to finance up to $1 billion in European sovereign AI infrastructure, including AI hardware and data-center build-out to meet EU demand for localized compute. TensorX operates a fleet of NVIDIA GPUs in EU data centers with strict data residency. Solstice, an onchain settlement protocol, will provide the financing and launch a new yield-bearing asset called aiUSX. This asset allows companies to deploy capital earmarked for future AI inference costs into infrastructure lending, generating yield while keeping funds liquid. Initially capped at $5 million, aiUSX aims to help companies offset rising AI expenses. Both companies are part of the Deus X Capital ecosystem.

TheNewsCrypto45 dk önce

Solstice and Tensorx to Buy $1 Billion in AI Infrastructure to Support EU Sovereign AI Demand

TheNewsCrypto45 dk önce

AAVE price jumps 15% – Can $40.69M in protocol fees sustain the breakout?

AAVE price jumped over 15%, breaking a key resistance level after weeks of consolidation. The rally coincides with strong protocol fundamentals, as Aave generated over $40.69M in fees in the past 30 days, capturing more than 50% of the decentralized lending sector's fees. Network activity is growing, with USDT deposits on its Ethereum Core market nearing $3 billion, indicating deeper liquidity. Whale accumulation at current prices and a bullish long-term price forecast from Standard Chartered have also boosted optimism. The key challenge is whether buyers can hold the broken resistance as support to sustain the breakout momentum.

ambcrypto54 dk önce

AAVE price jumps 15% – Can $40.69M in protocol fees sustain the breakout?

ambcrypto54 dk önce

Tokenized SpaceX Stock Liquidations Show Crypto Leverage Reaching Private Markets

Tokenized SpaceX stock positions recently experienced significant liquidations, illustrating the growing risk as crypto-style leverage enters private-market equity products. This episode highlights a key tension in the tokenized asset narrative: while these products aim to democratize access to high-demand, late-stage private companies like SpaceX, pairing them with leverage transforms them into high-volatility instruments more akin to crypto derivatives than traditional equity investments. The demand for tokenized SpaceX exposure stems from its brand power, scarcity, and investor interest. However, this access does not eliminate inherent risks, including jurisdictional limits, complex redemption terms, liquidity constraints, and differences in investor rights compared to direct ownership. The incident serves as a broader warning for the tokenized real-world asset (RWA) market. For sustainable growth, platforms must establish clear rules around custody, pricing, leverage, and disclosures. Regulators are likely to scrutinize whether such products are marketed as equity access while functioning as leveraged derivatives. This story underscores ongoing market themes: increasing regulatory specificity, the integration of crypto products with traditional finance rails, and heightened sensitivity to liquidity conditions. It reinforces the need to view developments through the lens of evolving market structure, leverage, and institutional participation rather than as isolated price catalysts.

bitcoinist55 dk önce

Tokenized SpaceX Stock Liquidations Show Crypto Leverage Reaching Private Markets

bitcoinist55 dk önce

Cardano wallet exploit: SecondFi traces attack to private key flaw, warns users not to restore seed phrases

SecondFi has identified the root cause of the recent Cardano wallet exploit, which drained approximately 16 million ADA ($2.4 million) from 374 wallets. The attack stemmed from a deterministic nonce derivation flaw in its software signer, allowing attackers to mathematically reconstruct private keys from public blockchain data after transactions were signed. The company warns affected users not to restore their compromised recovery phrases into another wallet, as the vulnerability exists at the private key level, meaning addresses remain exposed. Users are advised against moving funds or withdrawing staking rewards and should instead await SecondFi's official recovery process. Emergency containment has secured around 129 million ADA pending recovery. SecondFi has launched a restoration fund, engaged external security auditors, and identified two attacker groups responsible for the automated draining campaigns between June 21 and 23. The platform remains in maintenance mode during ongoing security reviews.

ambcrypto1 saat önce

Cardano wallet exploit: SecondFi traces attack to private key flaw, warns users not to restore seed phrases

ambcrypto1 saat önce

Is upcoming ‘Giga’ upgrade true driver behind SEI’s 30% rally?

SEI has rallied approximately 30% in June, decoupling from Bitcoin's recent weakness to trade around $0.058. The initial recovery was aided by a Bitcoin bounce, but SEI's continued gains are attributed to other factors. These include a short squeeze targeting liquidity pools near $0.06 and potentially the upcoming 'Giga' upgrade, which aims to improve the network's speed and privacy. The rally faces a key test at the $0.06 resistance level. Its ability to break through depends heavily on upcoming U.S. inflation data. Softer-than-expected data could renew risk-on appetite, potentially allowing SEI to flip $0.06 into support and target $0.07 (a further ~12% gain). Conversely, high inflation could trigger a risk-off mood and stall the rally. Overall, while seller exhaustion and ecosystem catalysts have fueled gains, SEI's near-term trajectory remains tied to broader market sentiment dictated by macroeconomic data.

ambcrypto1 saat önce

Is upcoming ‘Giga’ upgrade true driver behind SEI’s 30% rally?

ambcrypto1 saat önce

İşlemler

Spot

Futures