There was a significant inflow of 371 million dollars into spot Bitcoin ETFs in the US on October 15. With a single investment of $289 million, BlackRock’s IBIT ETF made the largest contribution. The success of Bitcoin, the most popular cryptocurrency, suggests that investor confidence is rising.
A further concern among investors is that BNB’s recent gain may not be sustained, given that its underlying BNB Chain’s on-chain activity fell by 37% in the previous week. Important indications that aid in determining if Binance Coin (BNB) price fluctuations are caused by BNB Chain activity include on-chain network fees and deposits.
Between October 10, 2024, and October 11, 2024, BNB gained about 4.1% after momentarily testing the $555.15 support zone. Notably, since July, the whole cryptocurrency market has declined, while BNB’s price has remained stable along with a few other coins such as DTX Exchange.
Crypto Market Shift: Bitcoin’s Rise to Rule the Market
During a quiet altcoin market, BTC price continued to rise, resulting in the cryptocurrency reaching its greatest market share since April 2021.
As per TradingView, the dominance of BTC price reached a three-and-a-half-year high of 58.77% during late trading on October 15, which coincided with its 10-week high of $67,800. After a severe retreat to $64,880, BTC price surged back to trade at slightly over $67,000, with a $1.32 trillion market capitalization.
ICT Crypto creator Benjamin Cowen projected in an October 16th X post that Bitcoin’s dominance would peak at 60%, while cryptocurrency investor Coach K Crypto asserted that Bitcoin’s dominance had peaked for this cycle, telling his 129,000 X followers that Bitcoin “needs to rip” before anything further could occur.
BTC Price Prediction
BTC price remains far above the 50-day and 200-day EMAs, confirming positive price indications. A move toward the resistance level at $69,000 might be indicated by a break over Monday’s high of $66,400. Furthermore, a break of the $69,000 resistance level might put the $70,000 level into play.
The US Presidential Election, US BTC-spot ETF market flow patterns, and US government-related transfer news should all be taken into account by investors. In contrast, a decline below the $64,000 support level may trigger the 50-day EMA. With a 14-day RSI reading of 62.19, the BTC price might reach the $69,000 barrier level before entering overbought territory.
Will Binance Coin (BNB) Go Up to $1000 in Future
A cryptocurrency expert released an X article with insights about the possibilities for Binance Coin (BNB) pricing. According to him, the Binance Coin (BNB) is showing symptoms of a breakthrough, with the price approaching a key resistance level.
If this breakthrough is successful, the analyst expects Binance Coin (BNB) to rise toward $1000. The recent increase has spurred excitement among traders as market circumstances become more favorable for a positive advance. Analysts believe that Binance Coin (BNB) momentum is gathering strength, indicating a potential increase in the near future.
Today’s surge in the cryptocurrency market caused a great deal of enthusiasm among investors. The price of Bitcoin (BTC) surged beyond $67K, thrilling investors. Moreover, well-known cryptocurrencies like Binance Coin (BNB) profited from this increasing trend. As prices climb, this rally suggests more people have faith in Bitcoin, which uplifts investors’ spirits.
DTX Presale is Near $5 Million; Analysts Predict Earn Up to 50x with DTX
DTX Exchange just completed stage 3 of its presale with a significant $4.92 million. Market analysts are amazed by the platform’s rapid expansion. Despite the fact that it is extremely profitable, many crypto professionals believe that if BNB reaches a new all-time high this year, you may earn 50 times more by investing $500 in DTX.
Using AI-powered investing strategies, investors may increase their revenue with DTX Exchange (DTX), a state-of-the-art DeFi platform. Whether you want to profit from changes in the currency market or the NASDAQ, DTX Exchange provides a secure trading environment where you may trade your favorite assets and boost liquidity.
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