235 days ago
BNB price is struggling to stay above the $500 support zone. The price could gain bearish momentum if there is a close below the $500 support. BNB price started a fresh decline from the $540 resistance zone. The price is now trading below $520 and the 100-hourly simple moving average. There is a short-term rising channel forming with support at $500 on the hourly chart of the BNB/USD pair (data source from Binance). The pair could gain bearish momentum if it settles below the $500 support zone. BNB Price Dips Again After struggling to test the $540 resistance, BNB price started a fresh decline like Ethereum and Bitcoin. The price declined below the $532 and $520 support levels. There was also a move below $510. Finally, the price found support at $495. A low was formed at $496 and the price is now consolidating losses. There is also a short-term rising channel forming with support at $500 on the hourly chart of the BNB/USD pair. The pair is now trading below $525 and the 100-hourly simple moving average. If there is a recovery wave, the price could face resistance near the $518 level. It is close to the 50% Fib retracement level of the downward move from the $538 swing high to the $496 low. The next resistance sits near the $522 level or the 61.8% Fib retracement level of the downward move from the $538 swing high to the $496 low. A clear move above the $522 zone could send the price higher. In the stated case, BNB price could test $535. A close above the $535 resistance might set the pace for a larger increase toward the $540 resistance. Any more gains might call for a test of the $550 level in the near term. More Downsides? If BNB fails to clear the $522 resistance, it could start another decline. Initial support on the downside is near the $500 level. The next major support is near the $496 level. The main support sits at $488. If there is a downside break below the $488 support, the price could drop toward the $465 support. Any more losses could initiate a larger decline toward the $450 level. Technical Indicators Hourly MACD – The MACD for BNB/USD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $500 and $496. Major Resistance Levels – $518 and $522.
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Source: NewsBTC
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bitcoin ETFs See $3.06B Weekly Inflows, Second-Highest on Record
In what many see as a sign of Bitcoin’s deepening foothold among institutional investors, spot BTC exchange-traded funds (ETFs) recorded a staggering $3.06 billion in net inflows last week. This dramatic surge, unfolding between April 21 and April 25, marks the second-largest weekly performance by the ETFs ever since they were approved by the U.S. Securities and Exchange Commission (SEC) in January 2024. Notable Net Inflows The latest data from SoSoValue paints a vivid picture of accelerating institutional commitment. Last week’s net inflow of $3.06 billion stands second only to the record set in November 2024, when spot BTC ETFs attracted $3.38 billion over a single week. Trailing behind are the $2.73 billion raised between November 29 and December 6, 2024, and the $2.57 billion recorded between March 8 and March 15, 2024. Net weekly inflows also breached the $2 billion mark on several other occasions, including $2.27 billion in the second week of February 2024, $2.24 billion in the first week of March 2024, and $2.22 billion in the first week of November 2024. Looking at the daily breakdowns of the latest inflows, April 22 and 23 contributed hugely to the history-making surge, registering daily total net inflows of $936.43 million and $916.91 million, respectively. Things did drop off somewhat toward the end of the week, with Thursday 24 seeing $442 million in inflows and Friday 25 hitting just shy of $380 million. So far, BlackRock’s iShares Bitcoin Trust (IBIT) enjoys the highest cumulative net inflow of the BTC ETFs, with a total of $41.2 billion injected into it. The Fidelity Wise Origin Bitcoin Fund (FBTC) is a distant second, with about $11.86 billion in net inflows, while Grayscale’s GBTC is in the red for $22.69 billion. ETFs, Corporations Stabilizing BTC Prices The period in which the spot Bitcoin ETFs exploded also marked a surge past $94,000 for the cryptocurrency’s price, a rally experts say is being fueled by wealth managers, corporate treasuries, and sovereign entities rather than retail speculation. As Bitwise CEO Hunter Horsley pointed out on X, search interest for Bitcoin on Google remains near historic lows even as prices soar. “This hasn’t been retail-driven,” the executive explained. Previously, Bloomberg ETF expert Eric Balchunas expressed the same opinion, suggesting that corporations and exchange-traded funds were now the primary buyers of Bitcoin, a shift that is bringing greater stability to the asset’s price. After trading sluggishly for much of early April, BTC broke decisively higher starting April 19. It vaulted past key resistance levels, accelerating through $90,000 to hit a weekly high of $95,768 before settling near $94,700. Looking at Bitcoin’s fundamentals, technical analysts are predicting a bullish run past the $100,000 level, with others anticipating an even bigger surge to $155,000 amid network growth and strong accumulation. The post Bitcoin ETFs See $3.06B Weekly Inflows, Second-Highest on Record appeared first on CryptoPotato . NewsBTC
Swiss National Bank Rejects Proposal for Bitcoin (BTC) Reserve
Other central banks across Europe have also said “no” to crypto. NewsBTC
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