{"id":28167,"date":"2023-06-27T11:28:16","date_gmt":"2023-06-27T15:28:16","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/bitcoin-prices-are-on-a-roll-how-the-biggest-crypto-could-top-35000-this-week\/"},"modified":"2023-06-27T11:28:18","modified_gmt":"2023-06-27T15:28:18","slug":"bitcoin-prices-are-on-a-roll-how-the-biggest-crypto-could-top-35000-this-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28167","title":{"rendered":"Bitcoin Prices Are on a Roll. How the Biggest Crypto Could Top $35,000 This Week."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000679381\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Bitcoin<br \/>\n       was rising slightly Tuesday after a spate of gains in recent days. With a major catalyst looming this week, the largest crypto has an opportunity to continue its winning streak if it can overcome key technical levels.<\/p>\n<p>The price of Bitcoin has risen less than 1% over the past 24 hours to above $30,375. Bitcoin remains clear of the psychologically important $30,000 level which it breached last week for the first time since April, nearing $32,000 in the peak of recent trading. The technical outlook for Bitcoin looks positive in the near term after such strong gains that so far are holding, unlike the spike in April which was quickly undone.<\/p>\n<div class=\"paywall\">\n<p>\u201cBitcoin saw a decisive breakout,\u201d said Katie Stockton, managing partner at technical research firm Fairlead Strategies. \u201cThe upturns support an eventual breakout above long-term resistance near $31,900 \u2026 Secondary resistance is near $35,900 \u2026 initial support is now at the 50-day moving average around $27,200.\u201d<\/p>\n<p>Indeed, Bitcoin is on a roll. With $32,000 in sight, clearing that level would pave the way to gains above $35,000 and near $36,000\u2014levels not seen since May 2022.\u00a0<\/p>\n<p>This week holds at least one catalyst that could get Bitcoin there: the release of the personal-consumption expenditures index, which similarly will be in focus for the stock market and likely move the<br \/>\n        Dow Jones Industrial Average<br \/>\n       and<br \/>\n        S&amp;P 500<span>.<\/span><br \/>\n      \u00a0<\/p>\n<p>While Bitcoin\u2019s correlation to stocks has recently weakened\u2014amid negative regulatory pressures and positive industry investments endogenous to crypto\u2014the release of PCE data is a major macroeconomic catalyst that could move all risk-sensitive assets.\u00a0<\/p>\n<p>PCE is the Federal Reserve\u2019s preferred measure of inflation. Investors will scrutinize the release Friday after the central bank held interest rates steady this month while cautioning that more inflation-fighting rate hikes could come after the first pause in more than a year of tightening financial conditions. A hot inflation print could signal more rate hikes, while signs of continued cooling in prices may spur optimism that the Fed will not have to be so aggressive.<\/p>\n<p>Beyond Bitcoin,<br \/>\n        Ether<br \/>\n      \u2014the second-largest crypto\u2014was down less than 1% to $1,875. Smaller cryptos or altcoins were mixed, with<br \/>\n        Cardano<br \/>\n       losing 3% but<br \/>\n        Polygon<br \/>\n       just above flat. Memecoins were in the red, with<br \/>\n        Dogecoin<br \/>\n       down 1% and<br \/>\n        Shiba Inu<br \/>\n       shedding 2%.<\/p>\n<p>Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/bitcoin-ethereum-price-crypto-markets-today-9e91c03a?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin was rising slightly Tuesday after a spate of gains in recent days. With a major catalyst looming this week, the largest crypto has an opportunity to continue its winning streak if it can overcome key technical levels. The price of Bitcoin has risen less than 1% over the past 24 hours to above $30,375. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-28167","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Prices Are on a Roll. How the Biggest Crypto Could Top $35,000 This Week. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Bitcoin was rising slightly Tuesday after a spate of gains in recent days. 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