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Bitcoin's (BTC) loss of appetite
Bitcoin (BTC) touched $70,687 on May 27th with the focus on spot Ethereum ETF. The leading cryptocurrency experienced a decline of nearly 4% from this point. BTC, trading at the level of $67,800, approached a potential support level.
BTC is approaching the $67,700 support level. If this support level is lost, the decline may continue. BTC may experience a pullback to $67,175. The decrease in positive news flow and stagnant market conditions triggered short-term profit-taking in BTC. Therefore, BTC's decline to $67,175 can be considered normal. If BTC also loses the $67,175 support, a decline to $66,500 may be observed.
On the other hand, BTC needs to break the $70,000 resistance in a potential uptrend. Breaking this point could target $71,000.
#ContentStar #HotTopicDiscussion #ETH
#Will ETH follow Bitcoin price trajectory upon its ETF trading available?