However, ethereum (ETH) bucked the broader market trend, gaining 0.11% to end the session at $3,682. Lingering investor hope of the SEC approving the S-1 forms to enable the launch of ETH-spot ETFs supported buyer appetite for ETH.
Technical Analysis
Bitcoin Analysis
BTC hovered above the 50-day and 200-day EMAs, affirming the bullish price signals.
A BTC break above $70,000 could give the bulls a run at the Friday (June 7) high of $71,992. A return to $71,992 would support a move toward the $73,808 all-time high.
US BTC-spot ETF market-related chatter, SEC activity, and investor bets on a September Fed rate cut need consideration.
Conversely, a BTC drop below the $69,000 support level could signal a fall to the 50-day EMA.
With a 55.61 14-Daily RSI reading, BTC may climb to the all-time high of $73,808 before entering overbought territory.
