CandleFocus Bitcoin Price Signals Market Hesitation, But Here's Why Standard Chartered Is Still Optimistic
2024-09-25
Author: Content Editor
Bitcoin (BTC) is struggling to break above the $64,000 level but analysts are optimistic about its potential for further growth. U.S. spot Bitcoin ETFs are performing well, with four consecutive days of net inflows, led by BlackRock's iShares Bitcoin Trust. The steepening of the U.S. Treasury yield curve is also supporting Bitcoin, as a steeper curve indicates optimism about economic growth. Sentiment around Bitcoin has surged, with AltIndex measuring it at 83 out of 100, and Google search trends for Bitcoin are increasing. However, traders and investors are cautious about a bearish dip and potential resistance levels. Ethereum (ETH) is down 1% but is also showing bullish trajectories.
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