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Bitcoin has risen 25% over the week and is trading near $78,500. The increase was supported by ETF inflows and short-position liquidations.
Top altcoins, such as Ripple (XRP), Solana (SOL), and Cardano (ADA), are holding steady on Thursday after a bullish rebound as the broader crypto market rebounds on US Treasury bond buybacks. The technical outlook for XRP and SOL suggests further upside, while ADA risks losing the recent gains.
Mike McGlone believes Bitcoin’s weakness below $69,000 strengthens his forecast of a return toward $10,000.
From a technical perspective, it’s easy to see why longs could be at deeper risk. Despite some relief from the geopolitical tensions, the market is barely responding. According to SoSoValue, the U.S. investors seem to have turned their back on digital assets as ETFs are down big in the week. However, in the background, there…
Solana (SOL) price trades above $75 at the time of writing on Monday after declining 2.18% last week and finding support at an ascending trendline. Continued inflows into spot SOL Exchange Traded Funds (ETFs) suggest sustained investor demand. Meanwhile, the technical outlook remains constructive, with a decisive break above the key $78 mark indicating further…