Crypto Market Shows Positive Performance

Crypto Market Exhibits Positive Performance

The crypto market continues to display positive financial indicators, leading to an upward trend in the total market value. Bitcoin has also benefited from this surge, approaching the $65,000 level but unable to maintain it. Notably, PEPE has garnered significant attention with a 37% gain over 24 hours.

Crypto Market Dynamics

Spot Ethereum ETF funds are set to launch on July 23, as per recent reports. Bloomberg ETF analyst Eric Balchunas has indicated that the SEC is actively engaged in discussions with issuers, aiming for a launch on Tuesday.

Donald Trump's appointment of Senator J.D. Vance as Vice President for the upcoming elections has also contributed to market recovery. Vance's support for crypto, as evidenced by his previous criticisms of SEC policies, has provided a boost to the crypto landscape.

Within the last 24 hours, inflows into the crypto market surpassed $136 billion, breaking resistance at $2.29 trillion. While this may facilitate further recovery, a potential market correction or profit-taking could result in a dip to $2.20 trillion.

Bitcoin Chart Analysis

Bitcoin has surpassed multiple resistance levels, reaching an intraday high of $65,000 from an initial value of $60,800. However, the asset's inability to establish $63,740 as a support base has raised the possibility of a sell-off.

Bitcoin is currently trading within an expanding wedge pattern, suggesting a potential breakout that could push its price above its all-time high of $73,800. For this to occur, $67,000 must be established as support. Otherwise, the asset may remain within the current pattern, with $70,000 acting as a significant barrier.

PEPE Chart Analysis

While Bitcoin and other altcoins have demonstrated positive growth over the past 24 hours, PEPE has emerged as a standout performer among memecoin projects. Its price surged by approximately 37%, reaching $0.00001207.

Maintaining this momentum could lead PEPE to breach its resistance level of $0.00001369 and continue its upward trend since mid-April. Failure to do so may result in consolidation within the current support and resistance levels.

This article was originally published on COINTURK NEWS.