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Bitcoin Surpasses $71,000, Ethereum ETF Imminent, Furrever Token’s 1,500% Return Captivates Investors

FinCrypt Staff

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The 3 best cryptocurrencies to invest in now according to Reddit: Bitcoin, Ethereum, Furrever Token

Furrever Token

Furrever Token

New York, NY, May 21, 2024 (GLOBE NEWSWIRE) –

The cryptocurrency market is exciting as Bitcoin breaks the $69,000 barrier, reaching new all-time highs and signaling strong investor confidence. At the same time, speculation surrounding the imminent approval of an Ethereum ETF has fueled even more optimism, potentially opening the door to a wider range of investors. Amid these developments, Furrever Token caught the attention of the crypto community with its extraordinary 1,500% post-launch returns, attracting significant interest from large-scale investors, commonly known as whales. This trifecta of news highlights the dynamic and rapidly evolving landscape of the crypto world, offering promising opportunities for investors.

Bitcoin has finally surpassed $71,000: what will happen?

Bitcoin (BTC) rose to approximately $71,000, a 4% increase from the previous day. Despite this, BTC has struggled to surpass its all-time high, requiring a 7% move. The cryptocurrency market faces several factors that influence its trajectory. BTC’s 51% year-to-date gains reflect investors’ anticipation of US monetary expansion, indicated by the Federal Reserve’s liquidity injections. However, concerns persist about potential repercussions, such as inflationary pressures. External factors, including the weak global real estate sector and uncertainty surrounding Grayscale’s holdings, contribute to investor skepticism. China’s efforts to resolve its housing market problems raise concerns that a broader economic recession will impact global markets. The limited adoption of BTC as a conventional hedge further influences investor sentiment. Michael Sonnenshein’s resignation from Grayscale also intensifies apprehensions about BTC’s price stability as potential liquidations loom over the Grayscale Bitcoin Trust. This dynamic underscores the complexity of Bitcoin’s current landscape, where market sentiment intertwines with external events to shape its trajectory.

Ethereum ETF Approval Soon: What Now?

The current price of Ethereum (ETH) is approximately $3,537.89, reflecting a notable 15% increase since yesterday. Following the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC), attention has turned to applications for spot Ethereum ETFs. This week marks a crucial period for decisions on spot Ethereum ETFs. The SEC, which has consistently delayed evaluations of spot ETH ETF applications, is expected to announce decisions on two applications this week. VanEck’s request will be handled on May 23, while ARK Invest’s request will be decided on May 24. While these two companies await decisions, several other companies, including BlackRock and Grayscale, have submitted spot ETH ETF applications. Although the SEC’s decisions this week are limited to two applications, they are expected to provide insight into future decisions. However, experts in the cryptocurrency and ETF fields are less optimistic about spot Ethereum ETFs than spot Bitcoin ETFs. SEC Chairman Gary Gensler’s cautious stance towards cryptocurrencies and Ethereum being seen more as a security than a commodity strengthens the possibility of rejection of these applications. Furthermore, Ethereum lacks the same level of political support as Bitcoin, further reinforcing this notion.

The story continues

Furrever Token (FURR) Attracts BTC and ETH Whales: A Sign for Massive Gains

Furrever Token (FURR) recently caught the attention of prominent Bitcoin (BTC) and Ethereum (ETH) whales, indicating a solid vote of confidence from key players in the crypto market. This new interest from large-scale investors could propel FURR to new heights, potentially making it one of the most popular tokens soon. Currently priced at US$0.000648, Furrever Token has already delivered extraordinary returns of up to 1,500% post-launch, demonstrating its explosive growth potential.

The allure of these whales lies in the Furrever Token’s unique proposition. It offers a whimsical and immersive experience centered around images of adorable cats, which have proven to be a huge hit in the community. Additionally, Furrever Token operates on the BNB-20 blockchain, providing robust security and scalability. Tokenomics, with 65% allocated to pre-sale and 25% to decentralized exchanges, guarantees broad distribution and liquidity.

The whales’ involvement suggests that Furrever Token is poised for significant upward momentum. Its investments often set the stage for broader market trends, which implies FURR could experience substantial appreciation. This trend, combined with Furrever Token’s unique, community-centric approach, positions it well for rapid and widespread adoption.

Now is the perfect time to join the Furrever Token community. With the potential for incredible returns and the support of influential crypto investors, FURR offers a promising investment opportunity. Don’t miss out – hurry up and buy FURR today on the official website at furrevertoken.com and be part of the next big movement in the world of cryptocurrencies!

Join the Furrever Token presale now:
Furrever Token official website
Enter the $20,000 Furrever Token Giveaway
Join the official Telegram group
Follow the official account

Media Contact:
Robert Smith
https://furrevertoken.com/
support (at) furrevertoken.com

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice or trading advice. It is highly recommended that you practice due diligence, including consulting with a professional financial advisor, before investing or trading cryptocurrencies and securities.

CONTACT: Robert Smith support (at) furrevertoken.com



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We are the editorial team of FinCrypt, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypt, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Markets

Crypto Markets Rebound as Spot Bitcoin ETFs Attract Massive Inflows

FinCrypt Staff

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Crypto Markets Rebound Ahead of Early Ethereum ETF Approval

This week saw $722 million worth of Bitcoin spot ETF inflows, including the largest daily inflow in a month.

Cryptocurrency markets rallied on Wednesday, driven by inflows into spot Bitcoin exchange-traded funds (ETFs).

The price of Bitcoin (BTC) is up 3% over the past 24 hours to last change hands at $65,200, according to CoinGecko. Ethereum (ETH) is up 2% and is trading at $3,471. Solana (SUN) and Polkadot (POINT) increased by 4%.

Bitcoin spot ETFs saw $422 million in daily inflows on Tuesday, the highest in the past 30 days, according to Far side data, . The all-time record for a single day was $1.05 billion on March 12.

Among Tuesday’s top contributors, BlackRock’s IBIT led with $260 million in inflows, followed by Fidelity’s FBTC with $61 million. This week has already seen more than $722 million in inflows.

Among the top 100 cryptocurrencies by market cap, Worldcoin (WLD) led with a 28% increase, followed by Helium (HNT) with 20% and Lido DAO (LDO) with 15%.

Worldcoin, a decentralized identity project led by OpenAI CEO Sam Altman, announced is extending the lockups for early investors and team members. This means that tokens will be gradually released through 2029, instead of the original 2027 plan. Token unlocks are generally seen as a negative because they increase supply and early investors can sell their tokens for profit.

Meanwhile, XRP, the token of the XRP Ledger network, jumped 8% after the CME and CF benchmarks introduced new indices and reference rates for XRP.

U.S. stocks faced a downturn on Wednesday. The S&P 500 fell 1%, while the Nasdaq Composite and Dow Jones Industrial Average both fell 2%.

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Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

FinCrypt Staff

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Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

Crypto markets appear to have been taken over by the bulls as major tokens have surged above their crucial resistance zone. Bitcoin surged above $65,000 while Ethereum was above $3,500, and XRP, which had remained passive for quite some time, surged over 40% in the past few days to hit $0.6. The uptrend has been captured in most altcoins, with Worldcoin (WLD), Arweave (AR), and Injective (INJ) leading the rally. Here’s what to expect for these tokens in the coming days.

Worldcoin (WLD) Price Analysis

O Worldcoin Price has been trading inside a descending wedge since it marked a new ATH near $12 in the final days of Q1 2024. The recent price action helped the price break out of the upper resistance of the wedge, breaking above the crucial resistance zone between $2.21 and $2.39. Market sentiments have changed, but technicals suggest that the bulls may remain passive for a while, which could offer some room for a bearish pullback.

The price broke out of the wedge with a significant increase in volume, but the current volume suggests that the bulls have taken a step back. Meanwhile, the RSI is about to reach the upper boundary, which could attract bearish forces. Additionally, the DMI has undergone a bullish crossover, but the decline in the ADX suggests that the rally may remain consolidated above the gains. Therefore, the WLD price is expected to maintain a horizontal consolidation between $3 and $3.3 and trigger a fresh rally to $4.4 during the next bullish rally.

Arweave (AR) Price Analysis

Arweave formed a strong base around $25, which helped the rally trigger a recovery during the bearish attack. Mt. Gox and German terror forced the price to fall below $20. However, the recent price action has brought the altcoin within the bullish range and raised expectations of maintaining a decent uptrend for a few more days.

AR price has hit one of the major resistances around $30 to $31.5, which could act as a strong base once overcome. The buying volume is slowly increasing, which could keep the bullish hopes for the rally high. Moreover, the supertrend has just flashed a buy signal, indicating a clean reversal of the trend. Therefore, AR price seems primed to maintain a healthy uptrend and rally above $40. However, if the bulls maintain a similar trend, making new highs above $50 may not be a tedious task for the bulls.

Price Analysis of Injective (INJ)

Injective price has been showing sharp strength since the beginning of the year and hence, the recent turnaround is expected to revive a good uptrend going forward. The bears engulfed the rally to a large extent, but the recent price action suggests that the bulls have regained their dominance. Therefore, INJ price is expected to maintain a strong uptrend with a bearish interference on the way down.

INJ price has surged above the lower support zone and has registered consecutive bullish candles. Although the volume is below the required levels, the OBV is maintaining a sharp uptrend. Furthermore, the Ichimoku cloud lead span B is heading towards the lead span A and a healthy crossover indicates the start of a new uptrend. However, INJ price may be out of the bears’ reach once it secures the resistance zone between $30.77 and $32.12, which seems to be on the horizon.

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Ethereum at $3.5K, Exchange Supply Hits 34-Month High

FinCrypt Staff

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Ethereum at $3.5K, Exchange Supply Hits 34-Month High

Ethereum (ETH) supply on exchanges has hit a 34-month high as the asset’s price surpassed the $3,500 mark.

ETH has risen 2.3% over the past 24 hours and is trading at $3,490 at the time of writing. The second-largest cryptocurrency — with a market cap of $419 billion — briefly touched an intraday high of $3,517 earlier today.

ETH Price, Whale Activity, RSI, and Exchange Supply – July 17 | Source: Santiment

Ethereum’s daily trading volume also increased by 7.6% to reach $19.8 billion.

According to data provided by Santiment, the supply of Ethereum on exchanges has reached $19.52 million ETH. This level was last seen in September 2021, when the asset was trading around the same price.

On the other hand, data from the market intelligence platform shows that the number of whale transactions has fallen by 12% in the last day — falling from 8,730 to 7,629 unique transactions per day.

The move shows that the supply of Ethereum on exchanges has been increasing with small deposits rather than large transactions from whales.

Additionally, the ETH Relative Strength Index (RSI) is currently hovering at the 60-mark, per Santiment. The indicator shows that Ethereum is slightly overbought at this price point, but it may not be in a critical position due to its large market cap.

One of the main drivers of Ethereum price increase is ETH spot expectations ETFs in the US Investment products are scheduled to start trading on July 23rd.

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Markets

Bits + Beeps: How to Play the ‘Trump Trade’ in Cryptocurrencies After the Assassination Attempt

FinCrypt Staff

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Bits + Bips: How to Play the ‘Trump Trade’ in Crypto After the Assassination Attempt

Also, how much will the Fed cut rates (and when)? What will be the inflows into ETH ETFs? And what is the near future for Bitcoin?

Posted on July 17, 2024 at 12:00 PM EST.

Listen to the episode at Apple Podcasts, Spotify, Capsules, Source, Podcast Addict, Pocket molds, Amazon Musicor on your favorite podcast platform.

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger and Joe McCann, joined by guest Jack Platts, dive into the market reaction to the recent assassination attempt on former President Donald Trump, analyzing how this event will influence the 2024 US presidential election and the cryptocurrency markets.

They also cover potential rate cuts: Could there be a cut in July? How big could the September rate cut be? Could the decision be influenced by the upcoming election?

They also give their predictions on what percentage of BTC ETF inflows the ETH ETFs will reach, and James talks about what he expects for Grayscale’s ETHE (hint: his outlook would be positive for ETH).

Finally, they delve into what’s next for Bitcoin as the German government runs out of BTC and Mt. Gox distributions begin. Just now?

Program Highlights:

  • Whether Trump’s shooting decided the election and whether the event caused a “flight to safety”
  • How election markets are becoming a place to watch election probabilities and whether cryptocurrencies “lean right”
  • Whether rate cuts will occur in July or September and by how much they will cut: 25 bps or 50 bps
  • How Joe sees the relationship between global liquidity cycles, rate cuts, and the potential rise of Bitcoin
  • What are the new updates about Ethereum ETFs and their expected launch?
  • Why Solana Hasn’t Performed Significantly Better Since Trump News
  • What Market Breadth Indicates About the Current Market Rally and the Impact of Rates on Small Caps
  • Everyone’s predictions on ETH ETF inflows and how much outflow we’ll see on Grayscale’s ETHE
  • What’s Next for BTC After German Government Exits Bitcoin and Mt. Gox Giveaways Starting This Week

Hosts:

Guest:

  • Jack PlattsCo-Founder and Managing Partner of Hypersphere Ventures

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