TechFlow news, 10x Research stated that this week carries high event risk: PYTH (down 38% over the past 30 days) will unlock on May 20 with a value of $800 million; AVAX will unlock on May 21 worth $340 million. NVIDIA is set to release its Q1 2024 earnings on May 22, and the final deadline for VanEck's spot ETF application is May 23. According to betting markets, the probability of ETF approval is only 7%. Bitcoin price is expected to move no more than +/-4% by the end of this week.
Bitcoin’s price performance has recently improved noticeably, rebounding above the late-April resistance zone at $67,500 and surpassing early-May highs of $64,000. A breakout above $67,500 could lead to new all-time highs. The level of $68,300 is seen as a "floor," and a break above it may trigger a strong upward move. Long positions are building in Bitcoin trading, with $67,500 as the next key breakout target.
