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BTC price is seeking retests of lower levels after Bitcoin bulls fail to push beyond recent 17-month highs. Bitcoin (BTC) fell below $34,000 after the Oct. 26 Wall Street open as consolidation at 17-month highs continued. BTC/USD 1-hour chart. Source: TradingView $33,000 becomes do-or-die BTC price level Data from Cointelegraph Markets Pro and TradingView showed BTC price behavior challenging intraday lows. The largest cryptocurrency had attempted to push higher still the day prior, but sell-side pressure ensured that $35,200 remained untouched as a ceiling. “We are going to have to wait for some candles to develop to see what the next move is, but we can gain some insight by continuing to monitor liquidity placement in the order book,” monitoring resource Material Indicators wrote in part of its latest X update. “Historically, the side with the heaviest concentration of liquidity closest to the active trading zone wins the battle and right now those concentrations on both sides are ...

Unfortunately for those watching closely for new spot Bitcoin ETF filings, ARK Invest and 21 Shares’ joint spot Bitcoin ETF has not been listed. Despite swirling rumors on social media, ARK Invest’s spot Bitcoin (BTC) exchange-traded fund (ETF) does not appear to be listed on the Depository Trust and Clearing Corporation’s (DTCC) website. On Oct. 25, numerous high-profile crypto accounts on X (Twitter) including Mike Alfred, Bitcoin News , Simply Bitcoin, Crypto News Alerts and others posted tweets and screenshots claiming ARK Invest and 21 Shares’ joint spot Bitcoin ETF had been listed on the DTCC’s site. BREAKING: CATHIE WOODS’ ARK SPOT BITCOIN ETF IS NOW LISTED ON THE DTCC WEBSITE WITH TICKER AND CUSIP — Mike Alfred (@mikealfred) October 25, 2023 However, none of the screenshots showed the correct ticker for the spot Bitcoin ETF, instead showing tickers related to futures products. The most recent amended filing for Ark’s spot Bitcoin ETF from Oct. 11 shows that the fund wi...

Bitcoin wakes up to near $28,000 ahead of a jump to a new BTC mining difficulty record as billionaire investor Ray Dalio conjures the chilling thought of "World War III." Bitcoin (BTC) starts a new week firmly back in the “Uptober” spirit as the weekly close gives way to a classic short squeeze. In a return to classic BTC price volatility of the kind seen earlier in the month, the largest cryptocurrency is tackling $28,000 ahead of the first Wall Street open. While still in an established trading range, Bitcoin is keeping traders on their toes — both longs and shorts are getting caught out by short-term spot price moves, and liquidations are mounting. Sentiment is fluctuating in step with these moves. Heading toward the top of the range, Bitcoin sees a flurry of bullish projections, with these replaced by fear and foreboding when downside reenters. Well-known market commentators thus remain overall cautious, even as October — traditionally Bitcoin’s best-performing month — p...

GBTC shares trading at a lower implied value to BTC price may soon be a thing of the past, a new prediction says. Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC) could erase its BTC price “ discount ” in 2024. In an X post on Aug. 30, monitoring resource CoinGlass predicted that the so-called “GBTC premium” would soon return. GBTC price: From "elevator to hell" to "stairway to heaven?" Grayscale netting a court victory over United States regulators on Aug. 29 provided an instant remedy to what was flagging GBTC performance. The fund, which contains over 600,000 BTC, has traded at a discount to the Bitcoin spot price, also called net asset value (NAV), since February 2021. What was once the “GBTC premium” has thus been negative for over two-and-a-half years, but that could soon change. News that the U.S. Securities and Exchange Commission (SEC) must consider GBTC’s conversion to a Bitcoin spot price exchange-traded fund (ETF) on the same terms...

If BTC price consolidates in the $25,000 range, ETH, XRP, LDO and RNDR could be the first altcoins to break out with recovery rallies. Altcoin price s crumbled after the United States Securities and Exchange Commission (SEC) announced lawsuits against Binance and Coinbase at the start of the week. Apart from the action against the two biggest crypto exchanges, investors seem to be nervous because the SEC labeled 23 cryptocurrencies as securities in the two lawsuits. That brings the total number of cryptocurrencies termed as securities by the SEC to 67. Among the mayhem, a minor positive is that Bitcoin (BTC) and Ether (ETH) have held out relatively well. This suggests that institutional investors are not panicking and dumping their positions. Due to their outperformance, Bitcoin’s dominance has risen to a year-to-date high of 47.6% and Ether’s to 20%. Crypto market data daily view. Source: Coin360 The uncertainty in the near term is likely to keep several investors on the sidelines. ...

Bitcoin bulls fail to stem fresh losses, with BTC price abandoning prior strength and opportunistic whales manipulating the arena with liquidity. Bitcoin (BTC) traded back below $27,000 on May 19 as Analysis flagged large-volume trades pressuring price . BTC/USD 1-day candle chart on Bitstamp. Source: TradingView Inflation specter haunts crypto markets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,380 on Bitstamp. A modest recovery then took the pair to a range familiar from several days prior, this still in focus prior to the week’s final Wall Street open. Downside overnight came courtesy of increasing market expectations of an interest rate hike by the United States Federal Reserve in June. These came thanks to low jobless claims data for the week, with Fed officials adding a hawkish tone. "On the one hand, inflation is too high, and we have not yet made sufficient progress on reducing it," a speech by board member Philip Jefferson...

Bitcoin and select altcoins are showing a continuation pattern, indicating indecision among the bulls and the bears. Investors seem to have priced in a 25 basis points rate hike by the United States Federal Reserve on May 3. Next, they will look for clues on the Fed’s actions for the rest of the year. Will the Fed maintain its hawkish stance as inflation still remains well above its target range or will the bank troubles and the looming recession make the central bank signal a pause in its rate hikes? The World Economic Forum Chief Economists Outlook report released on May 1 shows that 80% of the chief economists believe that central banks have to maintain a delicate balance between “managing inflation and maintaining financial sector stability.” The economists anticipate that the central banks will find it difficult to bring down inflation to their target levels. Daily cryptocurrency market performance. Source: Coin360 Arthur Hayes, the co-founder and former CEO of crypto derivative...

Meanwhile, Ethereum price also soared by 10% in the last 24 hours, with the price currently trading at $1,694. The ETH price hit a high of $1,700. Other top altcoins such as BNB, Polygon (MATIC), Solana, and XRP also rallied higher, bringing a rebound in the broader crypto market. advertisement CoinGape first predicted the massive upside move to $25K, when the BTC price was trading at $21.7K. Tremendous whale activity, cooling inflation, and falling U.S. Treasury yields and oil prices are the main reasons behind the sudden upside momentum in the Bitcoin price. Furthermore, optimism among investors in derivates markets regarding Bitcoin and Ethereum indicates the building of long positions. Although, there’s some evidence of profit-taking by traders as Bitcoin and Ethereum price s move up. Regardless, the sentiment remains bullish. Meanwhile, the demand for Bitcoin is increasing in the U.S. as the 30-day SMA Bitcoin Coinbase premium index jumps the highes...