Bitcoin Bounces; Ethereum, Dogecoin Disappoint: '$69K Must Break,' Technical Analyst Points Out
Portfolio Pulse from Ivan Crnogatić
Cryptocurrency markets traded mostly sideways on Thursday, with Bitcoin showing slight gains while Ethereum and Dogecoin disappointed. Notable developments include Elon Musk advising Donald Trump on crypto policy and IBIT overtaking GBTC as the biggest Bitcoin ETF. Technical analysts highlight key resistance and support levels for Bitcoin.
May 30, 2024 | 10:01 pm
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POSITIVE IMPACT
Robinhood has unveiled a new crypto trading API for advanced US users, which could attract more traders to its platform.
The introduction of a new crypto trading API by Robinhood is likely to attract advanced traders, potentially boosting trading volume and revenue for the platform.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
IBIT has overtaken GBTC as the biggest Bitcoin ETF, which could impact GBTC's market position and investor sentiment.
The news that IBIT has overtaken GBTC as the largest Bitcoin ETF could lead to a shift in investor preference, potentially causing a short-term decline in GBTC's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80