It is high time for a deeper retracement on the “relief” rally in Bitcoin, say commentators, but upside targets of $28,000 stay on the table.
“Greater clarity” around the Merge has driven institutional inflows into Ethereum products, according to a CoinShares report.
A push toward the top of the intraday trading range places Bitcoin in line for a bull flag on daily timeframes.
Ethereum’s transition to proof-of-stake could be a boon for the price of Ethereum Classic.
Bitcoin and Ethereum both gain but ETH price action takes the prize as Bitcoin cools momentum.
The ETH price stalls following a week of gains, leading analysts to call for a pullback in the short term followed by a rally into September when the mainnet Merge is predicted to occur.
A key ETH price indicator suggests the altcoin’s downtrend could extend to $400, but analysts are unsure whether the upcoming Ethereum Merge will be a bullish or bearish event.
Bitcoin. The bottom. Are we there yet? Several higher timeframe metrics suggest BTC’s real bottom will be somewhere around $10,000.
Bitcoin threatens its lowest weekly close since late 2020 as low weekend liquidity exacerbates existing weakness.
Liquid staking firms could default on their Ether obligations if The Merge does not happen.
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