Week Ahead: Crypto market likely to rally after the recent flush

Bitcoin spot ETF market inflows suggest a shift in market sentiment. BTC price needs to clear the $71,000 support level to kickstart the bull run. A breakdown of the $61,000 support level will invalidate the bull run and potentially kickstart a correction. The recent Bitcoin price declinewiped out billions in open interest and triggered a few hundred million in liquidations. With the upcoming events in the crypto and the broader stock market, the chances of a reversal are high.

Here are a few key levels to note: The 4-hour imbalance, extending from $62,994 to $64,733, is a key zone to accumulate BTC. A weekly flip of the $71,000 hurdle will likely kick-start a bullish bias and propel BTC to new all-time highs . Conversely, a breakdown of $61,000 on the weekly support level will likely kick-start a bearish move for the crypto market. BTC/USDT 1-day chart Crypto events this week Monday, June 10: Apple WWDC 2024 Tuesday, June 11: Fetch.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Week Ahead: Crypto market eyes a bullish turnaroundA new week has begun, but crypto markets seem to be doing the same thing they have for the past few weeks – consolidate.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Stocks Week Ahead: Volatility to Spike Amid High-Stakes Data Releases This WeekStocks Analysis by Michael Kramer covering: USD/CAD, S&P 500, CBOE Volatility Index. Read Michael Kramer's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Stocks Week Ahead: Wednesday to Tell Market's Next Direction Amid Slow Data WeekMarket Overview Analysis by Michael Kramer covering: S&P 500, NVIDIA Corporation, Copper Futures. Read Michael Kramer's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

TD Cowen warns crypto companies themselves may push legislation that 'derail' crypto industry as a wholeA report from the investment bank TD Cowen explains how clearer cryptocurrency legislation can 'derail' the industry, as seen previously with the cannabis industry.
Source: TheBlock__ - 🏆 464. / 53 Read more »