Bitcoin Stays Strong Above $30,000: What Can Crypto Market Expect?

  • It seems that Bitcoin is experiencing a pause at the $30,000 level, but is this stagnation a sign of an upcoming bear market or another bull run?
  • The largest cryptocurrency, Bitcoin, with a market dominance of over 50%, covers almost half of the total $1.1 trillion crypto market.
  • Crypto experts worldwide are closely monitoring the resurgence in interest in Bitcoin ETF applications from giants like Fidelity and BlackRock.

Despite slight corrections in the Bitcoin price, it manages to stay above $30,000: developments awaiting the crypto market!

Bitcoin Holds Above $30,000

Looking at the crypto market, it appears that Bitcoin is experiencing a pause at the $30,000 level, but is this stagnation a sign of an upcoming bear market or another bull run? Let’s delve deeper…

The largest cryptocurrency, Bitcoin, with a market dominance of over 50%, covers almost half of the total $1.1 trillion crypto market. This dominance surge indicates a significant change from the 40% level at the beginning of the year.

As of June 28, BTC is trading at $30,170, having gained 4% in the past seven days.

Impact of ETF Applications and Market Sensitivity

Crypto experts worldwide are closely monitoring the resurgence in interest in Bitcoin ETF applications from giants like Fidelity and BlackRock.

The interest of such international major players signifies an important point of institutional adoption. However, the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against major crypto exchanges Coinbase and Binance for alleged violations of securities laws has cast a long shadow over the crypto market.

Fidelity’s previously rejected fund application by the U.S. Securities and Exchange Commission (SEC) could trigger similar moves by other asset management companies.

Despite regulatory uncertainties, this move contributes to the narrative that the Bitcoin market is constantly maturing.

The Future of Crypto Investments: Futures or Spot ETFs?

American investors who want exposure to crypto on exchanges are limited to ETFs based on futures contracts. However, additional costs related to the restructuring of contracts on expiration days pose a significant challenge.

Spot Bitcoin ETFs could gain popularity as a cost-effective alternative and lead to increased interest in BTC. Additionally, such a method could democratize crypto investments by providing access to institutional and retail investors.

In conclusion, the approval of a spot Bitcoin ETF could change the landscape of crypto investments for institutions and retail investors.

BTC Technical Analysis

The Relative Strength Index (RSI) indicates that Bitcoin is in the overbought zone. However, the bull moving averages (EMA) and awesome oscillators (AO), which indicate bull dominance, are above the midline.

If there is an increase in buyer momentum, the price of Bitcoin could jump to the critical range between $31,800 and $35,300. However, failure of BTC bulls to re-enter the market could lead to bear control and push the price below $30,000.

The current state of BTC at the $30,000 threshold can be seen as either a temporary pause in a bull breakthrough or a precursor to a bearish decline.

One thing is certain, Bitcoin is on a journey filled with ups and downs, making it an exciting process financially.

As the future unfolds, it is certain that it is impossible to predict the exact turns and twists Bitcoin will take.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Reacts to Fed’s Likely 25bps Cut: Markets Brace for Powell’s Dot Plot and Global Rate Decisions

Recent macro releases — a moderate CPI and PPI...

Vitalik Buterin Announces Ethereum’s 10x Capacity Push via Layer-2 at EthTokyo 2025, Urges Asian Developers

At EthTokyo 2025, Ethereum co‑founder Vitalik Buterin outlined a...

Bitcoin Dominance Drops to 57.35%, Nearing 2025 Low as Matrixport Signals Altseason

COINOTAG reported on September 13 that market data shows...

HIFI Liquidations Exceed $30.48M Ahead of Binance Delist Sept 17 as Token Surges 945%

COINOTAG reported on September 13, citing Coinglass data that...

Alex Thorn Says U.S. Likely to Create Strategic Bitcoin Reserve This Year

According to Cointelegraph, Galaxy Digital Global Head of Research...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img