When writing Bitcoin
On Friday, Bloomberg Senior ETF Analyst Eric Balknas said BlackRock's Spot Bitcoin ETF (IBIT) reached a significant milestone at the end of the previous day's trading, becoming the fastest ETF to acquire $80 billion assets (AUM) under management, reaching a significant milestone. The second fastest ETF to reach this level was Vanguard's S&P 500 ETF (VOO), which arrived there in 1, 814 days.
On Friday, Bitcoin set a new all-time high of $118,667.
In an interview with CNBC and Yahoo Finance, Bitise Asset Management CIO said his company expects BTC prices to reach more than $200,000 by the end of this year.
James Rabish, manager of hedge funds, says that when it comes to how expensive Bitcoin will be, Bitcoin is similar to the US debt cap in that there is no ultimate limit.
Technical Analysis
- Bitcoin displays integration patterns throughout the 23-hour period from 11:00 on July 11 to July 10th, operating within a 1% comprehensive range from $118,226.29 to $118,226.29 troughs, according to the Coindesk Research Analysis model.
- The most important price movement occurred, especially on July 11th, around 13:00 and 3:00. For example, there have been repeated marked statements above the 7,291 average, with a major support of nearly $116,726.00, with resistance of around $118,226.00.
- Following this early turbulence, BTC exhibited exceptional stability with reduced volume, primarily integrating between $117,400.00 and $117,900.00, then recovered to $118,025.00 at the final time, suggesting a potential bullishness that arises due to subsequent trade sessions.
- Through the final 60 minutes from July 12th, between 57:57 and 10:56, Bitcoin encountered high volatility with a low, low downward movement of $117,835.74 from $118,121.16 to 10:14, followed by a strong rebound that established the $118,000.00-$118,070.00 range as a new integrated zone.
- The period showed classic support and resistance dynamics with volume spikes of 392.48 and 382.49, while a 10:12-10:14 selloff confirmed institutional participation, but subsequent recovery of over $118,035.00 for volume reduction suggests the strength and potential underlying upward momentum.
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