Bitcoin trades above $30K, boosting traders’ interest in ETH, ARB, VET and STX
Bitcoin and Ether’s recovery has improved traders' sentiment, which could trigger buying in ARB, VET, and STX. Bitcoin (BTC) made a new 52-week high on June 23, indicating that bulls are on fire. Buyers have managed to hold onto a large part of the gains made during the week, signaling that they are in no hurry to book profits. Bitcoin climbed 16% this week, outperforming the S&P 500 Index, which fell 1.39%. Not only Bitcoin but even Ether (ETH) is showing signs of starting a bullish move. Glassnode data shows that Ether balances on exchanges dropped sharply in the past 30 days and hit a new low of 12.6%. A similar dip in Ether exchange balances happened in November 2022, which was followed by a sharp rally of 33%. Although a rally is possible, traders need to be cautious because the fall in exchange balances this time may have been triggered by the U.S. Securities and Exchange Commission’s actions against Binance and Coinbase. Crypto market data daily view. Source: Coin360 ...