Bitcoin, ETH, XRP and SHIB Price Will Rise After Israel-Hamas Ceasefire Declaration
Palestinian militant group Hamas reached an agreement with Israel on Monday on a ceasefire over geopolitical tensions in Gaza. The proposal has been put forward by Qatar and Egypt and still requires an official comment from Israel. Hamas and Israel are negotiating indirectly through Qatar, Egypt and the United States.
Considering geopolitical tensions, experts predict a gloomy outlook for economic growth and Bitcoin. Tensions in the Middle East are linked to extreme volatility resulting from the focus on oil. Macro factors currently affecting the stock and crypto markets will decrease and a recovery in the markets will occur.
Bitcoin Price is Hot at $80,000
Bitcoin options traders have bet that the BTC price will reach $80,000 by the end of May. The strike price of BTC call options with a nominal value of $195 million is $80,000. This week investors expect the Bitcoin price to reach at least $70,000.
Popular analyst Ali Martinez predicts that despite Bitcoin’s recent rise from $57,000 to $64,000, the MVRV 90-Day Ratio suggests BTC remains in the “primary buy zone.” He shared an extremely bullish outlook on BTC price reaching $70,000.
BTC price is down 1% in the last 24 hours and the price is currently trading at $63,283. The 24-hour low and high are $62,967 and $65,494 respectively. Additionally, the 40% increase in trading volume in the last 24 hours shows that investors’ interest has increased.
Total BTC futures open positions have been quite volatile over the last 24 hours. In particular, the SEC’s announcement of Wells against Robinhood caused a decline in sentiment as wallets moved digital assets away from Robinhood.
Will altcoins recover?
The rise in altcoins will be delayed as QCP Capital says “ETH is not seeing the same kind of positivity due to concerns that the SEC will not approve ETH spot ETF deadlines for VanEck and Ark21 on 23rd and 2019, with the SEC still likely to see a risk reversal at -4%.” . May 24.”
The XRP price rose above $0.55 in response to the SEC’s deadline to file its response in the resolution brief. Pro-XRP lawyersRipple vs. SEC News: Settlement, Appeal, & Judge Torres; Final Decision Timeline believes that the SEC’s claim to seek $2 billion is improper and denies the damages and penalties claimed by the SEC.
Teat coins like Shiba Inu are making a resurgence, and it’s possible that the potential meme coin craze could return. Whales bought the dip and are currently looking for another dip buying opportunity. According to analysts, the formation of an inverted head-and-shoulders pattern in Total Altcoin Market Cap indicates a potential breakout that could increase the market cap to $4 trillion.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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