Bitcoin (BTC) Price Today Tests Resistance at $68,000, Memecoins Market Cap Takes a 4.5% Downturn to $55.7 Billion

The last ten days recorded a daily average $200 million inflow into Bitcoin Spot ETF, Friday aline registered $385 million, and on Tuesday exceeded $530 million.

Bitcoin price today is showing mixed signals with a slight downturn, while massive inflows continue into spot BTC ETFs.

According to the latest data, over $200 million flowed into the Bitcoin Spot ETF over the last ten days. On Friday alone, the ETF recorded inflows of $385 million, and on Tuesday, it exceeded $530 million.

However, despite the increased inflows into spot BTC ETFs and the news of Ethereum Spot ETF approval, the total crypto market cap has seen a decline.

Today, the total market cap experienced a drop of 1.32%, bringing it down to $2.4 trillion. This decrease comes after three days of徘徊 in the range of $2.4 trillion.

According to market analysis, the impact of Ethereum ETF approval was anticipated to be minimal, and traders are now waiting to react to the upcoming ETF inflow report.

If a full-scale ETH spot ETF were to launch, it could trigger the market to climb strongly above $2.4T. However, if bullish sentiments fail, the market cap could be pushed into the $2.3T zone.

Bitcoin Price Awaits $70K Entry Point

Bitcoin price today is making waves, testing resistance again at $68,000 and pulling back to $66,755 price at the press time.

The BTC price now has support to breach critical resistance strongly above $68,500. Currently, Bitcoin needs to control the bears and concentrate on price rallies to gather bounceback power.

In The BTC/USDT Chart, the Awesome Oscillator reveals positive moments around the asset in the short term.

Also applied the Alligator Indicator, which indicates the trend direction shows the open mouth structure, which means the traders are still entering position.

The widening wedge channel pattern keeps resistance at $70K again.

Bitcoin is anticipated to break the $68,500 and enter the $70K zone in trading cycles.

Memecoins Halt For A While

Memecoins performance is often proportional to Bitcoin;s direction, in today’s sessions Top memecons DOGE, SHIB, PEPE, FLOKI, BRETT, and WIF are neutralized and fallen.

MOG registered the largest loser with nearly a 10% fall after reaching its all-time high at $0.00000243 yesterday.

The overall crypto market today is in Holding mode with some assets facing turbulence. It’s better to Hold and watch the market movements toward Ethereum ETF approval and other dynamics.