Bitcoin
Bitcoin (BTC) News Today: Trump Crypto Endorsements and Fed Speculation
The Republican Party leader is targeting more than 50 million Americans who own crypto. A Republican Party victory in the US presidential election would end the SEC’s reign of regulation through enforcement and likely usher in a more cryptocurrency-friendly SEC chairman.
A crypto-friendly regulatory framework that protects retail investors could attract more investors to the crypto space.
Although BTC remains the barometer of the crypto market, ETHTalks related to spot ETF deserve investors’ attention.
On Saturday (June 15), ETF Store President Nate Geraci had the following to say about an ETH spot ETF market,
“And again, for the record, I think people are underestimating potential ETF demand…”
Technical analysis
Bitcoin Analysis
Bitcoin hovered below 50 days EMA while remaining above the 200-day EMA, affirming the bearish short-term but bullish long-term price signals.
A BTC breakout of the 50-day EMA could signal a move towards the $69,000 resistance level. A break above the $69,000 resistance level could give bulls a run to the all-time high $73,808.
SEC activity, FOMC members’ conversations, and sentiment regarding the Fed’s rate path all require consideration.
On the other hand, a BTC break below $65,000 could give bears a run to the $64,000 support level.
With a 14-day RSI reading of 43.76, BTC could fall from the $64,000 support level before entering oversold territory.