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Tahawul Tech11 hours ago

"We're entering this transition from a position of strength and bringing real-world experience to meet the demands of the AI factory".
Learn more about @Vertiv's alignment with @nvidia below.
https://www.tahawultech.com/channel/vertiv-confirms-strategic-alignment-with-nvidia/
#Vertiv #NVIDIA #tahawultech

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Investors keep close watch as bitcoin prices find support
Investors keep close watch as bitcoin prices find support

Khaleej Times

time2 hours ago

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Investors keep close watch as bitcoin prices find support

As the crypto markets navigated a wave of cautious optimism on Monday after last week's selloff, investors are watching closely as the market shows signs of both resilience and short-term volatility. Bitcoin, the flagship cryptocurrency, is currently trading near $105,800, a sharp decline from its all-time high of $112,000. Despite the dip, the broader trend remains bullish. Bitcoin has broken out of a long-term descending wedge and is now moving within an upward channel, suggesting that the long-term momentum is still intact, analysts say. However, several bearish signals emerged last week. Bitcoin holders took over $23 billion in profits between Monday, June 2 and Thursday, June 5, according to Santiment data. The large positive spike in the network realized profit/loss metric corresponds to the dip in BTC price. Large volume profit-taking is typically associated with further correction in the token's price. Derivatives data from Coinglass shows over $305 million in long positions were liquidated in the last 24 hours, against $41 million in short positions. The long/short ratio, a metric that compares bullish bets against bearish ones, reads 0.91. A value less than one signals higher bearish bets, supporting a thesis of further price decline. 'If Bitcoin manages to hold above the $103K–$105K range, a retest of $112K seems likely, with a possible push toward $118K. On the flip side, a drop below $100K could shift sentiment more bearish, potentially dragging the price down to the $97K zone,' Ekta Mourya, crypto analysts at FXStreet, wrote. With a total market capitalisation hovering around $3.3 trillion, Ethereum and Solana are drawing increased institutional attention, particularly due to their roles in real-world asset tokenization and staking innovations. Technically, Bitcoin is in a consolidation phase. Indicators like the Relative Strength Index (RSI) have cooled off from overbought levels, and the Moving Average Convergence Divergence (MACD) is showing signs of weakening momentum on the daily chart. 'Key support levels lie at $103,000, $100,000, and $97,663, while resistance is expected around $112,000, with potential upside targets at $115,000 to $118,000 if bullish momentum resumes,' Mourya said. Bitcoin narrowly stayed above the $100,000 level as the online spat between Elon Musk and President Trump spilled over from traditional markets last week. In what had been a fairly muted week for cryptoasset price movements beforehand, as the 'feud' between Trump and Musk escalated on social media on Thursday, bitcoin then fell as much as 4% before finding some support at $100,400, said eToro crypto analyst Simon Peters. The BTC/USDT daily price chart shows the likelihood of a nearly four per cent correction and a retest of milestone $100,000, a key support level for the cryptocurrency, 'A nearly three per cent increase could see BTC test resistance at $106,794, the upper boundary of a Fair Value Gap (FVG) on the BTC/USDT daily price chart. In the event of further decline in Bitcoin price, $97,732 could act as support,' an analyst said. Looking forward to this week, inflation data in the form of CPI consumer price index and PPI producer price index could provide some volatility. Assets held in crypto funds hit a record high in May as easing trade tensions lifted risk appetite and some investors used the digital currencies to hedge against market volatility and diversify from their US holdings, Reuters reported. Morningstar data on 294 crypto funds shows they attracted $7.05 billion in net inflows last month, the highest since December, bringing total assets under management to a record $167 billion.

Oil prices steady ahead of US-China trade talks
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Oil prices steady ahead of US-China trade talks

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Redington and Autodesk expand strategic relationship into new markets
Redington and Autodesk expand strategic relationship into new markets

Zawya

time5 hours ago

  • Zawya

Redington and Autodesk expand strategic relationship into new markets

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