Bitcoin, Ethereum, Dogecoin Mixed As BTC Dominance Soars Above 50%: Analyst Says Solana Poised To Touch All-Time Highs Past This Key Level
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies traded mixed on Tuesday with Bitcoin dominance level reaching its highest point since April 2021, surpassing 50%. The price of Bitcoin surged to $31,371, its highest level since June 2022, driven by optimism surrounding the spot Bitcoin exchange-traded fund (ETF) applications filed by influential Wall Street players, including Blackrock. Crypto analyst Michael Van de Poppe suggests that Bitcoin dominance may be close to its peak. Another analyst, Inmortal, suggests that Solana could soon skyrocket back to all-time highs after breaching the resistance of $60.
July 05, 2023 | 2:46 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Dogecoin traded mixed on Tuesday with a slight gain of 1%.
The news of Dogecoin trading mixed on Tuesday with a slight gain of 1% does not provide a clear direction for Dogecoin's price in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Ethereum's price movement is being compared to that of Solana before it experienced a significant surge.
The comparison of Ethereum's price movement to that of Solana's before its significant surge does not provide a clear direction for Ethereum's price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Bitcoin's price surged to its highest level since June 2022, driven by optimism surrounding the spot Bitcoin ETF applications filed by Wall Street players, including Blackrock.
The news of Bitcoin's price surge and the optimism surrounding the spot Bitcoin ETF applications filed by Wall Street players, including Blackrock, is likely to have a positive impact on Bitcoin's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100