Crypto Market Analysis | 25 October 2024

Crypto Market Analysis

Bitcoin roared back to the crucial trend line support around the $68k mark after dipping as low as $65.2k the day before. The upcoming weekly close of BTC on Sunday can prove to be a pivotal one as a closing above $68k level could mean a clear breakout of the bull flag Bitcoin has been consolidating in for since March 2024. With US ETFs recording $2.1 billion inflows in the last 5 days, the highest ever so far, the total holding of all of the exchange traded funds could soon cross 1 million Bitcoins.

On the altcoin front, Solana based AI-agent memecoin narrative have got big global exchanges like Binance and Bybit to list GOAT, which was created just two weeks back by a popular no-code token creation platform http://pump.fun/. GOAT could soon become the first token created on http://pump.fun/ to breach the prestigious $1 billion market cap.

Another Altcoin performer of yesterday was SAFE, which saw a massive 75% spike in the last 24 hours, with Korean exchange UPBIT listing the token on their platform.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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