Cryptos continue to attract interest from big players in finance. This could herald a next bullish wave for bitcoin (BTC) after a period of consolidation. It is also possible that ether (ETH) follows this trend.
Institutionals are more interested in bitcoin (BTC)
The recent request for a Bitcoin ETF by Blackrock had a positive impact on the crypto market, causing the value of BTC and ETH to rise significantly by 25% and 17% respectively.
Today, Fidelity Asset Management joined this trend by officially filing for a Bitcoin (BTC) ETF in cash, adding further pressure on the SEC. This demand is in addition to those of other big players such as BlackRock, WisdomTree and Ark Invest.
With over $11 trillion in assets under management, Fidelity will wield considerable upward influence in the crypto market. Incidentally, the price of bitcoin (BTC) has already increased by 2.6% earlier today, which could indicate an imminent next bullish wave.
In this context favorable to a rise in the market, it may be interesting to buy BTC now.
Admission: $30,000;
Stop: $29,400;
Goal: $35,000.
Will Ether (ETH) Keep Up?
Currently, this crypto is trading below the psychological threshold of $2,000. It underperformed bitcoin (BTC) during the first bullish wave sparked by demand for a Blackrock ETF. However, its value has already shown a bullish reaction at the $1,830 level. Investors who took this buying opportunity are currently in the green. Nevertheless, other opportunities could present themselves as a new bull market looms on the horizon.
In this context, here is an interesting buy position for ether (ETH):
Admission: $1,839;
Stop: $1,800;
Goal: $2,400.
It is important to note that if BTC drops below $29,500, all bullish assumptions regarding the two coins will be invalidated. In this case, bitcoin (BTC) could drop to $20,000 and ether (ETH) to $1,600.
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