Crypto Market Analysis | 23 July 2024

Crypto Market Analysis

Bitcoin continues its uptrend as it finds support at the crucial $66.6k. However, $69k is a major resistance that needs to be broken down with volumes to allow BTC to break all-time highs yet again.

On the other hand, US regulators have now given final approval for Ethereum-based ETF products, meaning institutions will now have access to more than 71% of the $2.45 trillion crypto asset industry directly through regulated products.

Lastly, with the Union Budget announcement set for today, the Indian crypto industry is expecting some tax reductions.

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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