Gold is outdated, long live Bitcoin – We know that Cathie Wood is a fervent supporter of the king of cryptocurrencies. Recently, she renewed her confidence in bitcoin by explaining thatshe plans to favor BTC as a security investment over the next ten years.
If the BTC continues to cycle, it could be an interesting strategy, but when it comes to investing, nothing is ever certain! Whatever happens, the price of the queen of cryptocurrencies moves slightly beyond $35,000. Is the resistance giving way?
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Bitcoin price rises 1% in 24 hours
Buyers continue to push, and the Bitcoin price evolves above $35,000. In fact, the course displays a increase of 1% in 24 hours and of 2.6% in one week :
In one month, the course is in increase of more than 25%. Faced with Ethereum, the Bitcoin regains strength. In fact, the BTC/ETH pair is climbing1.8% in 24 hours. Ultimately, BTC has been attracting capital for more than six months.
Capital continues to flow into Bitcoin and cryptocurrencies
The price of Bitcoin is solidhe is currently trying to break the resistance at $35,000. According to the CoinShares weekly report, this is the sixth consecutive week that investment products linked to cryptocurrencies record entriess. This week, the market records 260 million dollars in entries :
If we look at the details, we notice that it is the king of cryptocurrencies which attracts the attention of institutional players. Indeed, on its own, the Bitcoin records inflows of nearly $230 million. Ethereum (ETH) and Solana (SOL) are also attracting capital. Investment products relate to capital inflows equivalent to $17.5 million for ETHand almost $11 million for SOL.
Bitcoin price attempts to break out of resistance at $35,000
The level at $35,000 has rejected the price several times, but BTC continues to show a trend with rising lows and highs. The bulls attempt a new attack on the resistance at $35,000 :
If the resistance gives way, the price could head towards the next resistance which is at $37,000. THE institutional bias (EMA 9/EMA 18) bullish could act as dynamic support. On the other hand, if sellers once again repel this assault, the price could return to the level of support at $33,800. The RSI is trying to break the bearish trendlinea development above 61 would allow us to find a bullish momentum on momentum.
The king of cryptocurrencies continues to attract capital. CoinShares’ weekly report indicates that this is the sixth consecutive week that cryptocurrency-related investment products have seen inflows.
In the short term, Bitcoin price is trying to break through the resistance at $35,000. If buyers prevail, the price could find resistance at $37,000. Ethereum is in decline currently, but is a return to $2,000 possible ?
Closer to Bitcoin news
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