Although Cathie Wood’s company, Ark Invest, and 21Shares’ application for an ETF stirred Bitcoin (BTC), this excitement was short-lived.
Cathie Wood’s company Ark Invest and 21Shares applied for an Ethereum (ETH) ETF yesterday evening. Companies aiming to offer the Spot ETH ETF product to their customers instantly greened the market. BTC, which was in the $ 25,300 range at that time, instantly reached $ 26,050 with its purchasing power. However, the fact that this momentum was very short-lived brought BTC back to its previous level.
Points to consider in Bitcoin (BTC)
Looking at the short time frame, the $26,000 resistance continues to challenge BTC. It can be clearly seen that the sellers’ pressure continues on BTC, which could not clearly overcome this resistance even with the ETF application news last night. The main area to pay attention to in order for bullish signals to appear is the range of $ 26,582 – $ 26,792. With the breakdown of this area, 27,150 and 27,467 dollars can be targeted.
Any period below $25,814 will strengthen the downward movement. Any FUD news could directly bring BTC to $25,200. If $25,300 – $25,150 cannot be maintained, the next support level can be followed as $24,830.
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