Market
Arbitrum (ARB) Price Falls to New All-Time Low, What’s Next?
![](https://coin2049.io/wp-content/uploads/2024/07/bic_Arbitrum_ARB_coins_1-2.png)
Arbitrum’s (ARB) price drop has led to ARB failing its investors by becoming the first major token during this season to chart an all-time low.
While meme coins and very small-cap tokens have witnessed ATLs before, Arbitrum’s market cap of $2.47 billion is rather surprising.
Arbitrum Investors Still Have Not Given Up
Arbitrum’s price may have formed an all-time low, but this has discouraged investors. Despite the price decline, participation on the network has been consistently high. As a result, the price DAA (Daily Active Addresses) divergence is currently flashing a buy signal.
This indicator suggests that there is minimal room left for further drawdown, making it an opportune moment for potential investors to consider entering the market. Plus, since the altcoin is at its all-time low, ARB has nowhere to go but up.
![Arbitrum price DAA Divergence.](https://beincrypto.com/wp-content/uploads/2024/07/Arbitrum-ARB-11.46.53-04-Jul-2024-850x288.png)
Secondly, the adoption rate of Arbitrum has remained impressively high, consistently exceeding 20%. This steadiness highlights the robust demand and growing interest in the Arbitrum network.
A strong adoption rate is crucial for any blockchain project’s long-term success and sustainability. Arbitrum’s performance in this regard is a positive sign for its future prospects despite the price witnessing declines.
Read More: How To Buy Cardano (ADA) and Everything You Need To Know
![Arbitrum Adoption Rate.](https://beincrypto.com/wp-content/uploads/2024/07/ITB_arb_new_adoption_rate_arbitrum_2024-07-04T09_57_15.713Z-850x567.png)
Moreover, the sustained high adoption rate indicates that Arbitrum has not lost traction in the market. Regardless of the fluctuations in the broader cryptocurrency landscape, Arbitrum has managed to maintain its appeal among users. This could help the price go back up.
ARB Price Prediction: Up, up, and Away
Arbitrum’s price has formed a new all-time low over the past 24 hours, trading at $0.72. The altcoin attempted this involuntary achievement twice in June, failing both times. This time, It was not so lucky.
However, since the altcoin has already likely hit bottom, there is no way to go but up. The altcoin supported by investor accumulation could be looking at reclaiming $1 as a support floor, which would warrant considerable support from either the market or the investors.
Read More: Cardano (ADA) Price Prediction 2024/2025/2030
![Arbitrum Price Analysis.](https://beincrypto.com/wp-content/uploads/2024/07/6nMUSG8x-850x381.png)
If neither of the two appears, there is a good chance Arbitrum’s price could consolidate between $0.73 and $0.92. Since this happened back in October 2023, it could happen again and invalidate the bullish thesis.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
1 in 4 US Voters Likely to Invest in Ethereum ETFs
![](https://coin2049.io/wp-content/uploads/2024/07/BIC_ethereum_the-merge_what-is.jpg.optimal.jpg)
A survey by Grayscale and The Harris Poll indicates that US Securities and Exchange Commission (SEC) approval of a spot Ethereum (ETH) exchange-traded funds (ETFs) would likely boost American investment in the digital asset.
Though the long-term performance of these ETFs is uncertain, the poll suggests their introduction will significantly advance the crypto market’s maturity and mainstream adoption.
Ethereum ETF Will Drive Adoption
The poll reveals that nearly one in four likely voters would consider investing in Ethereum if an ETF-based product were approved. This approval would increase their interest in Ethereum and other crypto assets beyond Bitcoin.
Read more: Ethereum ETF Explained: What It Is and How It Works
![US Investors interest in Ethereum](https://beincrypto.com/wp-content/uploads/2024/07/image-44-850x478.png)
Grayscale’s findings support analysts’ predictions about Ethereum ETFs’ potential success. Quinn Thompson, founder of Leker Capital, referencing Neil Osborne, stated that the ETH ETF is a proxy for traditional investors who lack exposure to blockchain and crypto beyond digital gold.
“By investing in Ethereum you’re getting exposure to stablecoins/payments, tokenization, DeFi, digital art/NFTs, infrastructure/staking/layer 2 scaling. All of this new technology is built on Ethereum and pays fees for its usage and activity which accrues as revenue to the ETH network and token,” Quinn explained.
This perspective leads many market experts to anticipate significant investment inflows once trading begins. Charles Yu, Vice President of Research at Galaxy Digital, estimated that ETH ETFs might attract up to $1 billion in monthly inflows during the first five months. Similarly, Bitwise CIO Matthew Hougan predicted $15 billion in inflows within the first 18 months.
Despite the potential for high success, 25% of Grayscale respondents said that ETF approval would not influence their investment interest. The survey also highlighted that a considerable portion of the population remains unfamiliar with spot Ethereum ETF. It shows that around 43% of US voters were unaware of it.
Read more: Crypto ETN vs. Crypto ETF: What Is the Difference?
![Ethereum ETF Survey](https://beincrypto.com/wp-content/uploads/2024/07/image-45-850x276.png)
Meanwhile, the survey shows crypto has become an increasingly important subject for American voters. According to the survey, a third of American likely voters have become more open to crypto since the beginning of this year, and 47% of them believe that crypto will eventually wind up in their investment portfolios.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Where Will Bitcoin (BTC) Price Head Amidst Liquidations?
![](https://coin2049.io/wp-content/uploads/2024/06/bic_Bitcoin-___S_P-500_bearish.png)
Bitcoin’s (BTC) price has barely recovered from the debacle of momentum witnessed over the last few days.
Nevertheless, the cryptocurrency appears to be under the threat of further drawdown due to not bearishness but bullishness of the investors.
Bitcoin Faces a Challenge
Bitcoin’s price fell from $62,000 to $53,300, shocking the crypto market and killing many bullish dreams. The futures market registered long liquidations amounting to $263 million in three days.
This is the second-highest liquidation in the last two weeks, with the previous high noted three months ago in April. Generally, such high liquidations tend to calm investors down and make them step back to let the market cool down.
Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know
![Bitcoin Long Liquidations.](https://beincrypto.com/wp-content/uploads/2024/07/Screenshot-2024-07-06-174628-850x235.png)
However, BTC holders do not seem to agree with this opinion. The drawdown is considered to be facing the impact of Federal Reserve Chair Jerome Powell’s bearish speech earlier this week. Thus, the investors expect a quick recovery and are prepared to profit from it.
Analyst Willy Woo highlighted this in his explanation of the difference between buying futures and buying spot. He denoted that the former results in a bearish environment and stated that this could cause further losses.
According to the Bitcoin Open Value Oscillator, about half a million long contracts are still open in the futures market. Should Bitcoin’s price fall further, these longs could be liquidated. This will result in an extended period of bearishness for BTC.
![Bitcoin Open Value Oscillator](https://beincrypto.com/wp-content/uploads/2024/07/GRyNsoiXQAAQeuG-850x632.jpeg.optimal.jpeg)
BTC Price Prediction: Validating the Pattern
Bitcoin’s price, trading at $56,961 at the time of writing, is stabilizing after nearly falling to $53,300 yesterday. The cryptocurrency has yet to fulfill the expected 17% drawdown arising from the double top formation from four months ago.
This prediction targets a drop to $50,900, which will lead to massive long liquidations, as mentioned above. Should BTC lose its support of $55,000, this would become more probable.
Read More: Bitcoin (BTC) Price Prediction 2024/2025/2030
![Bitcoin Price Analysis.](https://beincrypto.com/wp-content/uploads/2024/07/Nxh6HFvT-850x363.png)
On the other hand, if Bitcoin’s price manages to bounce back from $55,000 and flip $58,800 into support again, recovery could begin. This would enable a rise to $60,000 to invalidate the bearish thesis.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
LayerZero On The Rise: ZRO Bullish Momentum Points To New Highs
![](https://coin2049.io/wp-content/uploads/2024/07/LayerZero-from-Adobe-Stock.jpg)
LayerZero (ZRO) is currently experiencing strong bullish momentum, positioning itself for potential new highs in the future. This sustained upward trend indicates growing investor confidence and increased market interest in the platform’s capabilities.
As ZRO continues to gain traction, technical indicators suggest that this momentum could drive the price to unprecedented levels. Traders and investors are closely monitoring this movement, anticipating further gains and strategic opportunities as LayerZero pushes toward new market peaks.
This article delves into providing an in-depth analysis of ZRO’s current bullish momentum and its potential to reach new highs. By examining current price performance and technical indicators, this article seeks to provide strategic advice for investors looking to capitalize on ZRO’s potential growth.
ZRO was trading at around $4.15 and was up by 36.66% with a market capitalization of over $456 million and a trading volume of over $816 million as of the time of writing. There has been a 24-hour increase of 36.62% and 152.75% in ZRO’s market capitalization and trading volume respectively.
Analyzing The Current Bullish Trend Of ZRO
A technical analysis of ZRO’s price action on the 1-hour chart reveals that the crypto asset is actively bullish and trading above the 100-day Simple Moving Average (SMA). Since facing rejection at the $2.69 support level, ZRO has been consistently bullish and is currently attempting to break above the $4.28 resistance level.
The formation of the 1-hour William alligator signals that the price of ZRO may continue to extend its bullish trend as both the alligator lip and teeth are currently trending above the jaw after a successful cross above it.
On the 4-hour chart, it can be observed that ZRO is actively bullish. Although the price is attempting a short-term pullback by dropping a bearish candlestick, the crypto asset may extend its bullishness in the long run.
Additionally, the 4-hour William alligator indicates more bearishness for ZRO as both the alligator lip and teeth are actively trending above the jaw after moving above it.
ZRO Price Forecast
Analyzing potential future possibilities of ZRO’s price movement reveals that if the digital asset breaks above the $4.28 resistance level, it may move higher to challenge its all-time high of $5.62. If this level is breached, ZRO might move on to create a new all-time high.
However, if the price of ZRO experiences rejection at the $4.28 resistance level, it will begin to descend toward the $3.27 support level. Should the asset breach this level, it may continue to decline to test the $2.69 support level and possibly move on to test other higher levels if it breaches the $2.69 level.
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