Too early to call Bitcoin’s price rise a ‘true resurgence’, says eToro

Despite the price of Bitcoin rising, eToro market analyst Matthew Newton stated that it is way too early to call this a “true resurgence”.

Newton added that “we have seen the price yo-yo for several months”, so it would be difficult to label this as a “new dawn” for the cryptocurrency.

Furthermore, Newton warned traders to be cautious of Bitcoin at around the $7,800 level, which is approximately where it is at the moment, adding that the price has “failed to breakthrough” on the previous two attempts. However, the eToro analyst highlighted that, so far this year, $6,000 has proved to be strong support for the currency, so it would prove difficult to break this limit if the price were to drop.

“Looking ahead, there is plenty to be positive about though. There’s lots of great fundamental news about the development of cryptocurrencies right now, but that’s going to take time to filter through and impact on price,” he added.

Newton concluded that the outcome of the price of the cryptocurrency will likely be determined later this month, as many traders await the decision in the US on VanEck’s proposed Bitcoin equity traded fund.

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?

The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.

Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?



In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.

The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.

In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.