With Bitcoin (BTC) breaking through the $37000 mark, which has never been seen in the past 18 months, the cryptocurrency market is experiencing a huge sensation. This surge occurred amidst the expected wave of decisions by the US Securities and Exchange Commission on several Bitcoin ETFs
With Bitcoin (BTC) breaking through the $37000 mark, which has never been seen in the past 18 months, the cryptocurrency market is experiencing a huge sensation. This surge occurred amidst the expected wave of decisions by the US Securities and Exchange Commission on several Bitcoin ETFs. With the SEC's deadline approaching, the market is full of hope, but it is also prepared to wait as experts suggest that actual ETFs may take some time to go public after approval.
Following BTC, LTC has also seen a ride, rising slightly to over $74, slightly faster than the overall market growth rate. At the same time, ScapesMania (MANIA) has attracted attention during the pre-sale stage and promises to provide stable returns in an often unpredictable market, thereby attracting investors. Although MANIA is receiving increasing attention, it stands out due to its pre-sale hype, attracting those seeking more stability in crazy cryptocurrency investments.
But despite all the hustle and bustle, there is always a warning sound behind it. The market is constantly changing and exciting, with every rebound accompanied by the risk of a reversal. Now, people are closely watching how the SEC's decisions will affect the entire market, and whether rising stars like LTC and MANIA can maintain an advantage in the unpredictable cryptocurrency narrative today.
Although some projects face uncertain futures, the trajectory of pre-sale projects is easier to predict. ScapesMania (MANIA) is a well balanced and carefully designed project that serves as a gaming ecosystem. Through DAO governance, supporters will be able to influence and benefit industries worth billions of dollars. The combination of extensive functionality with the best technology, professional team, and long-term, ambitious vision can make ScapesMania the next major event in the encryption field. Pre sale discounts and stage bonuses only increase the attractiveness of the project.
With the support of an award-winning development team, ScapesMania represents transparency: every member's social media information is publicly available. This project can not only achieve this goal by bringing significant innovation to the game, but also by placing the community at the forefront and center. Promoting customer engagement and ensuring that everyone benefits from excellent token economy and generous rewards makes ScapesMania a a project with a bright future.
Coin An supports Bitcoin (BTC) and Litecoin (LTC) with solid reserves
Cryptocurrency enthusiasts waiting for Bitcoin ETF approval can take a moment to enjoy the latest financial health report from Coin An. The 12th Reserve Proof Report of this largest cryptocurrency exchange strongly demonstrates confidence, claiming that its reserves hold 104.22% of Bitcoin (BTC) and 101.43% of Litecoin debt - these numbers provide a reassuring security layer for traders.
Bitcoin (BTC) reserves have only decreased by 0.7% to 584000 BTC, demonstrating its stability in a calm market. After the storm caused by last year's FTX crash, the exchange's commitment to maintaining strong reserves became a beacon of trust, indicating that they can navigate accurately and cautiously even in turbulent waters.
Bitcoin (BTC): High Risk Balancing Method
The current price trend of Bitcoin (BTC) puts it at a critical level, especially trading between $29063 and $40796.
Interestingly, the market value of the original cryptocurrency is an impressive number, highlighting the weight of BTC in the cryptocurrency market. The trading volume of Bitcoin (BTC) has just surged by 43%, indicating that investors are flocking, which may lead to price spikes or trigger dramatic changes.
Bitcoin (BTC) bullish indicator
Due to the focus on the resistance level of $49461 in Bitcoin (BTC) prices, the bullish scenario depends on whether the recent one month high of $37783.01 can be maintained. The stagnation of the MACD oscillation indicator on the 3-10 day indicates a pause in the recent upward trend. As prices are also hovering around the short-term trend indicator's 9-day moving average, caution is needed. If Bitcoin remains above this critical average level, we may see it begin to truly demonstrate its strength to cope with those more severe resistance levels.
Bitcoin (BTC) bearish indicator
On the other hand, if Bitcoin (BTC) falters at the current moment, the bearish outlook is imminent. The stagnation of the 3-10-16 day MACD moving average indicates that the upward trend is losing momentum. If the BTC price starts to fall below the recent 1-month low of $26550.11, it may indicate a reversal of fate. In this case, the asset will test a lower support level of $23466 and may test $14801, with a 52 week low of $15516.53 being a clear reminder of how deep a pullback may go.
When traders and investors focus on the level of $40796, the increase in activity indicates that a decisive trend is brewing. The question now is whether bulls have enough confidence to push towards $49000, or whether bears will force a retreat to test the resilience of Bitcoin (BTC) at established support levels.
LTC: Gradually moving towards key resistance levels in bullish speculation
The current trading price of LTC is around $75, hovering around a subtle turning point between the current support level of $61.48 and the next resistance level of $80.28. The asset has risen 8% in the past week, approaching a one month high of $76.23.
Recently, trading volume has increased by approximately 54%, injecting additional energy into the market, which means there is strong interest, which may drive LTC above $93.4 or trigger profit taking among investors who surged this week. With the prosperity of trading volume and a market value of $5.54 billion, this asset is emerging in the market, and bulls and bears are preparing for conflicts.
LTC bullish indicator
The bullish scenario was supported by a 3% increase in prices over the past 24 hours. The 3-10 day MACD volatility index hovered around $75.47, further boosting positive sentiment, indicating that buying momentum may pause before attempting to push up.
LTC bearish indicator
On the contrary, if the LTC fails to hold onto the pivot point of $61.48, a bearish scenario will arise and there is a possibility of a pullback to the second support level of $54.04. If it falls below this level, LTC may retest the 1-month low of $59.86 and potentially hit the third support level of $40.92.
The 3-10-16 day MACD moving average has stopped at $66.95, and prices are striving to maintain above the 9-day moving average of $71.05, indicating preliminary signs of a weakening trend.
Final idea
The price of Bitcoin (BTC) has recently risen to over $37000, while the price of Litecoin (LTC) has steadily exceeded $74, depicting a highly anticipated and active scene in the cryptocurrency market. As the cryptocurrency community anticipates the SEC's ETF decision, investors are closely monitoring market dynamics, indicating that we may be at a critical moment in the cryptocurrency narrative - whether this is a prelude to a sustained bull market or a precursor to a significant adjustment, it remains to be seen.
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