Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Binance Labs, Sequoia China and others invest $2.5 million in zkPass

    August 3, 2023

    Shiba Inu enters doghouse as whales bail, burn rate slows

    May 25, 2025

    SEC Gensler reported to step down after Thanksgiving

    November 16, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Bitcoin Makes History With Highest Monthly Close, But Volume Is Still Bearish

      July 3, 2025

      Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks

      July 1, 2025

      Saylor Strikes Again: Strategy Bags Another 4,980 Bitcoin in Latest Buying Spree

      June 30, 2025

      Bitcoin Bears Are Taking Fresh Market Positions, But Are They Safe?

      June 29, 2025

      $430M in Transactions as Virtual Asset Payments Surge 630% in a Year

      June 28, 2025
    • Technology

      Comment on XRP ETF Race Heats Up As SEC Reviews Filings by BONK Memecoin Pumps Over 16% amid ETF-Driven Interest

      July 3, 2025

      Arizona Governor Hobbs Vetoes Digital Asset Reserve Bill, Stalling State Crypto Agenda

      July 2, 2025

      XRP ETF buzz boosts XYZVerse presale momentum as investors eye a potential breakout

      July 1, 2025

      Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Hiko Arnold

      June 30, 2025

      Crypto Theft Surge: $2.1 Billion Stolen in First Half of 2025

      June 29, 2025
    • Learn/Guide

      Will the Bullish Trend Continue?

      July 3, 2025

      Coinbase acquires web3 startup Liquifi after $2.9B Deribit deal

      July 2, 2025

      Platform Utility meets Scarcity: How $Fun’s in-game demand boosts its price

      July 1, 2025

      Ripple-backed XRP Ledger launches EVM-compatible sidechain on mainnet

      June 30, 2025

      REX-Osprey Ethereum, Solana staked ETFs may launch soon as SEC raises no objections

      June 29, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Bitcoin must hold $60,600 as support for further upside, says trader
    Learn/Guide

    Bitcoin must hold $60,600 as support for further upside, says trader

    August 10, 20242 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Bitcoin must hold $60,600 as support for further upside, says trader
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Key Takeaways

    • Bitcoin broke $62,000 on Aug. 8, needing to hold $60,600 as support for potential $65,000 test.
    • Spot Bitcoin ETFs saw $195 million inflow on Aug. 8, with BlackRock’s IBIT leading at $157.6 million.

    Share this article







    Bitcoin (BTC) broke $62,000 on Aug. 8 and now needs to hold the $60,600 level as support on the daily chart to try a revisit to $65,000, according to the trader identified as Rekt Capital on X (formerly Twitter).

    The upward movement was likely triggered by BTC chasing a CME gap between $59,400 and $62,550. A CME gap is the difference between the closing and opening prices of futures contracts traded on the Chicago Mercantile Exchange.

    “Bitcoin has successfully broken above $60600. Dips into $60600, if any at all, would constitute a retest attempt of that level. Generally, continued stability above $60600 and BTC will be able to revisit the $65000 (blue) over time,” stated the trader.

    Moreover, Bitcoin has reclaimed its weekly channel between $57,000 and $67,000, while testing the previous all-time high on the monthly timeframe.

    Notably, the “post-halving re-accumulation phase” might be in its final stretch, added Rekt Capital in another post. In an annotated chart, he highlighted that the period is reaching its end.

    Bitcoin daily chart annotated. Image: Rekt Capital/TradingView

    Nevertheless, the short term still offers a significant challenge for Bitcoin, as it must close above its August downtrend to confirm the end of retesting and the resume of an upward trend.


    Sapphire

    ETF inflows have resumed

    After starting the trading week with two consecutive days of outflows, spot Bitcoin exchange-traded funds (ETFs) registered two consecutive days of inflows.

    On Aug. 8, these products had nearly $195 million in cash flowing to them, with BlackRock’s IBIT taking the lead with a $157.6 million leap in assets under management. WisdomTree’s BTCW also saw significant inflows of $118.5 million.

    Other ETFs helping bolster assets under management growth were Fidelity’s FBTC, ARK 21Shares’ ARKB, and VanEck’s HODL, which saw inflows of $65.2 million, $32.8 million, and $3.4 million, respectively.

    Meanwhile, Grayscale’s GBTC continues to bleed, with $182.9 million leaving the fund yesterday.

    Share this article









    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Will the Bullish Trend Continue?

    July 3, 2025

    Coinbase acquires web3 startup Liquifi after $2.9B Deribit deal

    July 2, 2025

    Platform Utility meets Scarcity: How $Fun’s in-game demand boosts its price

    July 1, 2025

    Ripple-backed XRP Ledger launches EVM-compatible sidechain on mainnet

    June 30, 2025
    Top Posts

    Hedera and Copper partner to further institutional access to HBAR

    August 14, 2024

    SEC boss scrutinized over crypto rulemaking and FTX ties

    September 27, 2023

    Troy Ounce vs Ounce: What’s The Difference?

    August 21, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Bitcoin Makes History With Highest Monthly Close, But Volume Is Still Bearish

    July 3, 2025

    Dow, S&P 500, Nasdaq mixed as investors weigh tariff talks

    July 1, 2025

    Saylor Strikes Again: Strategy Bags Another 4,980 Bitcoin in Latest Buying Spree

    June 30, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.