Friday, June 21, 2024

Bitcoin and stock prices are rising, indicating a greater appetite for risk

It looks like the volatility in global stock markets has stabilized for a bit. Indications included rising BTC and crypto prices rose on Wednesday, negating previous losses. Stock prices also rose, to some extent due to dropping yields offered by treasury bonds.

The trading volume for BTC is picking up but is not as high as January. Analysts want to see this volume rise steadily before they confirm that prices of cryptocurrencies are bouncing back to normal. Data on the futures markets looks like traders are either neutral or bearish. This is a good indicator that financial markets may swing either way if the next move with momentum comes along. This is the short-term outlook. Since there has been an improvement in technical indicators, BTC buying will occur in a zone of $40,000 to $46,000. Long term buying could dip until and unless the signals become positive.

Currently, BTC is trading at $44,739 and ETH at $3258. According to reports, BlackRock is getting ready to offer trading services in crypto to its investing clients. If this happens, this would be a big signal that institutional investors are ready to trade in digital assets. There are regulatory problems which have to be sorted out before institutional investments in crypto can go forward. It looks like investors are ready for risk especially since many countries have adopted crypto. This is indicative of the steps countries and central banks are willing to take to deal with the fall out of the global health crisis.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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