Even after a slight cooling of prices in the market since the last 24 hours, crypto market investors have kept their morale high, leading to BTC holding its support levels over $60,000.
Bitcoin and other tokens in the crypto market staged a spirited show, even as prices cooled by small margins. The inflows have continued into the spot Bitcoin ETFs, indicating strong momentum from crypto market investors. The overall crypto metrics were still on an upper footing as of July 19. However, all eyes could now shift their focus to BTC’s movements during the upcoming weekend.
If Bitcoin fights off bearish pressures in the next few days, then the market could see a price jump next week. The trend of low trading volumes may continue over the weekend as well. At the same time, the hype around the spot ether ETFs has grown louder. If the ongoing speculations are true, the crypto sector will likely witness the launch of the new ETFs next week.
This event, coupled with an overall stable climate in the crypto sector, could become a catalyst for a rally. At this juncture, predictions might still be uncertain, but the current positive crypto metrics come as a good sign. After almost a month, BTC looks set to end the week with seven-day returns in double digits. The same is true for several other tokens.
BTC/USD 1D price chart
Bitcoin is currently trading at around $64,000 on July 19, 2024, with BTC/USD trading lower by a margin of around 1.5% in the last 24 hours. Bitcoin’s market cap was trading at around $1.2 trillion in the last 24 hours.
BTC/USD is trading higher than its 20-day EMA (around 60,500), as BTC’s 24-hour volume was at approximately $26 billion. The global crypto market cap decreased by around 0.3%, trading above $2.3 trillion. BTC’s year-to-date returns are above 52%.
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