Following the announcement, Bitcoin’s price surged rapidly. At the time of the news, BTC climbed to $119,800. Earlier in the day, it had surpassed $122,000, gaining momentum toward a $123,000 record. However, this rise was short-lived, and BTC fell back to $119,000. 

Critical Levels and CME Gap in Bitcoin Price 

According to analysts, there is a significant CME gap below the $119,000 level. Coinmühendisi analysts mentioned this gap in their analysis yesterday morning. Titan of Crypto also noted that this gap needs to be filled before the upward trend can continue. This could limit BTC’s short-term movement. Historically, price has often moved to close this gap. 

Meanwhile, upcoming CPI and PPI data releases in the U.S. will also influence price direction. The figures, due on August 12 and 13, will clarify inflation trends. A decrease in inflation would strengthen expectations for a rate cut in September. Currently, the probability of a Fed rate cut at the September FOMC meeting stands at 86.4%. 

Two Possible BTC Scenarios from Analysts 

Crypto analyst Altcoin Shrpa pointed out two potential scenarios for BTC. In the first, the price pulls back to form a higher timeframe bottom, which could take weeks, followed by a more sustainable rise. In the second scenario, the price could retest the $120,000 peak, coinciding with increased treasury activities and macroeconomic developments. 

Ultimately, both shifts in trade policies and economic data will determine Bitcoin’s direction. Investors are closely monitoring these developments to shape their strategies. 

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The post Trump Extends China Tariff Deadline, BTC CME Gap in Focus appeared first on Coin Engineer.

Record Inflows into Spot Ethereum ETFs 

In recent weeks, spot Ethereum ETFs have seen significant capital inflows. Major investment firms like Grayscale, Fidelity, and Bitwise have recorded net inflows exceeding $110 million into their ETF products. Grayscale’s Ether ETF attracted $43.7 million, Fidelity’s FETH product saw $42.2 million, and Grayscale’s mini Ether ETF secured $18.7 million in investments. This reflects growing institutional confidence in Ethereum. 

As a result of these developments, the coin’s market capitalization has surged by approximately $100 billion over the past 15 days, reaching $327 billion. With this rise, ETH has surpassed corporate giants like Nestle, Alibaba, and Coca-Cola, even overtaking Bank of America. This leap demonstrates the strengthening perception of Ethereum among investors. 

First-Day Performance of ETFs 

On the first trading day of spot Ethereum ETFs, total net inflows reached $107 million. BlackRock’s iShares ETH Trust led with $267 million, followed by Bitwise Ethereum ETF with $204 million and Fidelity ETH Fund with $71 million. However, Grayscale’s ETH Trust experienced outflows of $484 million due to high management fees. Investors’ preference for lower-fee and more liquid products highlights increasing competition in the ETF sector. 

Analyst Titan of Crypto draws attention to price gaps formed on the Chicago Mercantile Exchange (CME). These gaps occur when there is a difference between the weekly closing price and the opening price of the following week. According to Titan, these gaps are typically “filled” over time. This suggests that Ethereum’s upward trend could continue. Specifically, the CME gap at the $3,200 level indicates that the price may reach this point. 

Renowned analyst Michael van de Poppe shared his insights on ETH on May 22. He noted that ETH broke through the $2,400 resistance zone. He also suggested that, following Bitcoin’s lead, ETH could climb above $3,000. Van de Poppe emphasized that ETH and Bitcoin price movements generally align. 

Additionally, ETH rose by 5.6% in the last 24 hours, reaching $2,666. 

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The post Ethereum on Track for $3,200: CME Gap Remains Open  appeared first on Coin Engineer.