NFT News Daily Today TheBitTimes.com

Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests. After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support is. So analyzing what caused the recent price rally is essential to understanding how traders are positioned on BTC margin and futures markets. Why did BTC price break above $30,000?  Some analysts attribute Bitcoin’s recent 21.5% gains in 11 days to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing. But other events might have fueled the cryptocurrency gains. For instance, on June 26, HSBC Bank in Hong Kong reportedly introduced its first local cryptocurrency services using three listed crypto ETFs. Moreover, the ProShares Bitcoin Strat...

Bitcoin price is showing some strength, and charts suggest BNB, LTC, OKB and QNT could follow? The bears lost an opportunity when they failed to sustain Bitcoin (BTC) below the $25,000 level this week. That may have attracted buying from the bulls who are attempting to start a recovery in Bitcoin and select altcoins.  Additionally, BlackRock’s application to launch a Bitcoin spot price exchange-traded fund and the sustained strength in the United States equities markets may have helped improve crypto sentiment. Bitcoin is on track to finish the week with a minor gain of 2% and institutional buying in the Grayscale Bitcoin Trust reduced its discount to Bitcoin spot from 44% on June 13 to 36.6%, according to CoinGlass data. Crypto market data daily view. Source: Coin360 Although Bitcoin and select altcoins are trying to start a relief rally, the overall trend remains bearish. Therefore, short-term traders who buy for a pullback should consider booking profits or tightening their stops ...