Bitcoin’s Sideways Movement and Imminent Reversal
Despite a recent drop, George emphasizes, “when in doubt, zoom out.” Bitcoin has been sideways since last week, hovering around the $66,000 mark after a dip from $70,000. The anticipation for a breakout is high as technical indicators suggest that a reversal is imminent. “Something is about to happen,” he notes, underlining the importance of whale activities and consistent accumulation since April.
Global Adoption: T-Mobile and El Salvador Lead the Way
T-Mobile’s parent company, Deutsche Telekom, has announced they will mine Bitcoin and also become a validator for Fetch AI. This signifies a trend where companies are strategizing around Bitcoin directly or through related activities. El Salvador remains a renowned proponent, with plans to offer investment options in both dollars and Bitcoin through the BPI Bank of Private Investment. George comments, “the more people get educated about Bitcoin, the more they advised about Bitcoin, the more people will be buying Bitcoin.”
Spot Bitcoin ETFs: Australia and Beyond
Australia has approved its first spot Bitcoin ETF, set to start trading on June 20th. The cumulative spot ETF volume is nearing $300 billion in just 155 days. “Black Rock continues to load up; they don’t want to sell any,” George highlights, explaining the ongoing investments by major players. Global ETFs are paving the way for Bitcoin’s stronger market presence.
Upcoming Ethereum ETF: Sooner Than Expected
A potential Ethereum ETF could roll out by July 2nd, way ahead of the anticipated September date. “This could be a huge catalyst for the market,” George states, as Wall Street gears up to load up on Ethereum. Whales have been accumulating Ethereum, indicating significant bullish sentiment.
Speculations on Solana and Other Cryptos
Speculators are betting heavily on a Solana ETF approval by the end of the year. With a $200,000 bet placed, confidence is high. Even though Solana’s price action has been “kind of weak,” its underlying developments are robust. George believes, “Solana is not going anywhere,” and forecasts a bright future.
Mysterious Rise of Ton Coin
Ton Coin has been making waves recently, being one of the few green performers in a sea of red. “It just seems like Ton Coin came out of nowhere and continues to keep on going up and up,” George notes, indicating its strong performance despite its relatively low profile. This cryptocurrency merits more attention given its unwavering upward trajectory.