Bitcoin price today: steadies at $71k with rate cuts in focus By Investing.com
- Bitcoin Price Movement: Bitcoin price increased slightly, stabilizing after breaking out of a two-month trading range due to weak U.S. economic data and expectations of Fed interest rate cuts.
- Bitcoin ETF Inflows: Bitcoin was close to its record high, with significant inflows into U.S.-listed spot exchange traded funds, totaling about $15 billion year-to-date.
- Altcoin Performance: Ethereum rose to near two-month highs, benefiting from hype over a potential spot Ether ETF, while other altcoins like SOL, ADA, XRP, SHIB, and DOGE had mixed performance.
- Institutional Interest in Meme Coins: Institutional allocations to meme coins surged by over 300% in 2024, reaching nearly $300 million in April, with DOGE and SHIB being popular choices.
- New Meme Coins and Investments: New meme coin Solana's BONK/USD attracted over $75 million in institutional investments, but overall meme coin holdings dropped by almost half to $125 million by May.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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