Check out the top three stories Guru-Investingbrings you.
Check out the top three stories Guru-Investingbrings you.
If Bitcoin (BTC) Falls Below $57,000, These 3 Things Will Happen
Since instead of conquering new highs, Bitcoin has recently been falling to new lows, it is advisable to be prepared for various scenarios to adapt to the harsh reality. If BTC falls below the crucial $57,000 level, three possible outcomes Firstly, the 200 EMA would no longer be valid as a support level; If the flagship cryptocurrency loses this support, it would enter bearish territory and could exacerbate the sell-off. Secondly, many buyers may rush to buy BTC at what they believe to be a low price around $56,000. However, if Bitcoin cannot maintain this price mark, there may be more liquidations. With increasing selling pressure, it may be more difficult for the BTC price to stabilize, which would accelerate the decline. Third, some institutional selling operations may cease due to insufficient liquidity. As buyers and sellers wait for more favorable conditions, this scenario could result in a sideways market, with Bitcoin trading between $55,000 and $60,000. However, if institutions continue selling, Bitcoin could fall as low as $50,000.
Tomiwabold OlajideEthereum ETF approval may be imminent as VanEck moves forward
As it became known yesterday, VanEck has presented Form 8-A for your Ethereum Spot ETF with the SEC, a big step toward approval. This move may foreshadow the imminent approval of an ETF for Ethereum, as VanEck’s similar action coincided with the approval of Bitcoin ETFs exactly seven days later. Additionally, this development could indicate that VanEck has received approval from the regulatory agency to file an application. According to Bloomberg Senior ETF Expert Eric BalchunasThe move is a “good sign,” and approval of Ethereum spot ETFs could occur within seven days before July 2. Previously, Nate Geraci also suggested that the SEC could give approval to Ethereum ETFs before Independence Day (July 4) in the US.
Ripple VP Breaks Silence on Korean XRP Ledger Growth
In a recent X publicationEmi Yoshikawa, Ripple’s vice president of corporate strategy and operations, shared her excitement about the growing momentum of XRP Ledger (XRPL) in South Korea. This increase in interest is especially notable as more companies get involved in digital assets and seek reliable, enterprise-grade platforms to support their initiatives. The Ripple executive emphasized the recent development of Infinite Block, Korea’s only licensed digital asset custody provider. Last month, he announced that he would be joining the XRP Ledger blockchain as a validator. According to an X post shared by Yoshikawa, earlier in the week, Infinite Block announced that it would further expand custody services based on the of national regulations. Additionally, Infinite Block plans to provide regulatory compliance consulting to leading XRPL initiatives and ecosystem creators.
