BTC Price Forecast: Bullish Momentum Builds as ETF Inflows and Fed Cut Drive Gains
“OPTIONS APPROVED: SEC has just granted accelerated approval for the listing and trading of options on IBIT.”
The approval of options could be significant for BTC, as options could draw more institutional investors into BTC, a positive outcome for the supply-demand trend.
Investors should remain alert, with upcoming US economic indicators likely to affect buyer demand for BTC and the broader market. Stay updated with our latest news and analysis to manage your BTC and crypto exposures.
Technical Analysis
Bitcoin Analysis
BTC hovers well above the 50-day and 200-day EMAs, affirming bullish price signals.
A break above the $64,000 resistance level could support a move toward $67,500. A return to $67,500 could give the bulls a run at the $69,000 resistance level.
Investors should consider US economic indicators for the week ahead, which include consumer confidence, services sector PMIs, and inflation data.
Conversely, a break below the $60,365 support level could indicate a fall toward the 50-day and 200-day EMAs. A drop below the EMAs would signal a bullish trend reversal, possibly bringing $55,000 into play.
With a 61.27 14-day RSI reading, BTC may return to $65,000 before entering overbought territory.