Women engineers at ABB contribute to a culture of safety and…Revolutionizing the Digital Landscape: Our CEO’s Vision for Unlimited Web Hosting…The crypto market added 1% in 24 hours to $2.4 trillion, supported by positive momentum in Bitcoin and interest in Ethereum . Top altcoins are mostly adding to the levels of the day before except for falling Solana , but it too has been rising over the last hours. Toncoin is adding 4.9% over a day and 14% in 30 days, second only to Ethereum in the top 20.
Technically, Ethereum has already received its second support this month on the brief dip to the 50-day moving average. This looks like the market’s commitment to the bullish trend that started last month. The news trigger for the rise was speculation about the likely start of trading in spot ETFs on the coin from July 2nd.
Solana is probing support at the 200-day moving average. It managed to push back from this level to nearly $130. The focus now is on whether this rise will continue. This is the fourth time since March that the bulls have defended this area. But the very fact of constant returns to it speaks about the bears’ persistence.According to ETC Group, cryptocurrency hedge funds are reducing the share of bitcoin in their investment portfolios.
CryptoQuant noted that traders are in no hurry to replenish their BTC holdings, whale demand remains weak, and the volume of stablecoins is growing at the slowest pace since November 2023. Bitcoin has fallen below the aggregate breakeven level of speculators , which could trigger a continued decline to $60,000.The US SEC has dropped its investigation into ConsenSys for recognising Ethereum sales as securities transactions.
Arkham pointed out that a German government-affiliated wallet transferred 6,500 BTC to a new address, some of which ended up on exchanges. The move has raised fears in the community of negative consequences for the exchange rate of the first cryptocurrency.The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today. By viewing, visiting, using, or interacting with SouthAfricaToday.