The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000. DXY poised for another 1.75% drop Rising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the price to break below the wedge’s support line and later fall by as much as the maximum distance between the …

Commentators are predicting that a second futures-based Bitcoin exchange-traded fund (ETF) will have gone live by the end of the week following the launch of ProShares’ Bitcoin Strategy ETF later on Tuesday. On Tuesday, Bloomberg analyst Eric Balchunas predicted that Valkyrie’s Bitcoin (BTC) futures-based ETF is “likely” to launch in the coming days after being certified for listing on the Nasdaq exchange last week. If true, the milestone would make Valkyrie’s fund only the second Bitcoin ETF to launch in the United States, with ProShares’ futures-based ETF slated to begin trading on the New York Stock Exchange under the ticker …

Cryptocurrency asset management firm Mudrex has announced the launch of its new Coin Sets investment vehicle. The new offering allows investors to diversify their asset portfolio across a range of high-performing decentralized finance, or DeFi, assets, as well as nonfungible tokens, or NFTs. The niche financial model fosters the distribution of risk exposure in what is often considered a volatile marketplace, allowing investors to bet on the value proposition of an entire sector, rather than the individual potential of a single asset. The basket of assets is also rebalanced on a monthly basis to recalculate the risk and opportunity for …

The day crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based Bitcoin (BTC) exchange-traded fund (ETF) is scheduled to launch, and analysts are predicting that additional ETFs will roll out over the coming week. Data from Cointelegraph Markets Pro and TradingView shows that an early-morning attempt by bears to drop the price back below $60,000 was well-defended by traders, and at the time of writing, there is a tug of war at the $61,000–$62,000 zone. While many have predicted that the ETF launch is the fuel needed to push BTC to the …

Even with Bitcoin (BTC) price on the verge of a new all-time high, the cryptocurrency market projects an aura of anxious optimism on Oct. 18 as investors await the official launch of the first Bitcoin exchange-traded fund (ETF), which is set to begin trading on Oct. 19. While the market waits for the historic ETF launch, BTC bulls are battling to hold the $62,000 level as support. Meanwhile, a handful of altcoins posted double-digit rallies on Oct. 18 as traders look to capitalize on the gains they provide when Bitcoin price consolidates. Data from Cointelegraph Markets Pro and TradingView shows …

Institutional inflows into cryptocurrency products rose last week, as investment managers increased their exposure to Bitcoin (BTC) and leading altcoins, according to the latest CoinShares report. Total assets held by institutional managers reached $72.3 billion for the week ending Sunday, Oct. 17, the highest level on record. By comparison, institutional crypto holdings were worth $57 billion in March and reached $71.6 billion in May. For the latest week, digital asset investment products saw inflows totaling $80 million. Bitcoin products attracted the largest investments at $70 million, marking the fifth consecutive week of inflows. Institutional investors also increased their holdings of …

Between fever-pitch anticipation over the impending approval of a Bitcoin exchange-traded fund, the Commodity Futures Trading Commission’s $42-million-plus settlement with Tether and Bitfinex, and Vladimir Putin brooding over cryptocurrency’s capacity to transfer value, this past week has been saturated with major policy news. While all the above are instances of state figures’ and institutions’ top-down actions and statements on digital assets, an arguably even more interesting tide has emerged on the side of the crypto industry itself. Two major players of the digital space, Coinbase and a16z (Andreessen Horowitz), came forward with proposed visions for regulating internet-native economic activity Below …

The first Bitcoin (BTC) futures-linked exchange-traded fund in the United States, ProShares’ Bitcoin Strategy ETF, will begin trading on the New York Stock Exchange on Tuesday under the ticker BITO. ProShares CEO Michael Sapir said the launch marks an important milestone for cryptocurrency ETFs in the U.S. following several years of effort to list one on an exchange: “BITO will continue the legacy of ETFs that provide investors convenient, liquid access to an asset class. 1993 is remembered for the first equity ETF, 2002 for the first bond ETF, and 2004 for the first gold ETF. 2021 will be remembered …

Institutional investment giant Grayscale is reportedly considering converting its Bitcoin Trust into a physically settled exchange-traded fund (ETF). On Sunday, Barry Silbert, CEO of Grayscale’s parent company, Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin (BTC) fund. After having taken to Twitter to criticize the cash-settled Bitcoin futures ETF recently approved by the United States Securities and Exchange Commission, Bitcoin commentator Preston Pysh chimed in to ask Silbert when Grayscale’s Bitcoin Trust would be converted into a BTC-settled ETF. “Stay tuned,” Silbert responded. stay tuned — Barry Silbert (@BarrySilbert) October …

Bitcoin’s (BTC) market tendency to crash by over 80% after logging strong bull runs might come to an end. That is according to a new report published by California-based hedge fund Pantera Capital. In detail, the report notes that the recent periods of BTC price drops have been less severe than in the past. For instance, in 2013–2015 and 2017–2018, Bitcoin crashed by as much as 83% after topping out near $1,111 and $20,089, respectively. Similarly, the cryptocurrency’s bull run in 2019–2020 and 2020–2021 led to massive price corrections. Nevertheless, the scales of their retracements afterward were -61% and -54%, …

Bitcoin (BTC) faces a pivotal weekly close on Oct. 17, with bulls scrambling to squash final resistance before all-time highs. Bitcoin on the cusp of clearing final resistance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging throughout the weekend, crucially staying above $60,000. This week’s close was already tipped to be a deal-breaker, potentially being its highest ever — only once before has Bitcoin ended a weekly candle above the $60,000 mark. With hours left to go, analysts were bracing for a potentially pivotal moment, one that could open up the path to uncharted territory for bulls. “Another …

Trader and cryptocurrency analyst Alessio Rastani believes Bitcoin (BTC) is entering the final stage of the current bull market, which will propel the leading cryptocurrency to a $100,000 price target. To explain his prediction, Rastani cited the Elliott Wave Theory, which divides upward price trends into five waves. Rastani believes we have entered the final wave of a bull trend that started at the beginning of 2019 and that should see its top at some point next year. “When this five-wave move completes, then I’m expecting a bear market,” he said. Citing research by behavioral finance expert Jason Goepfert, Rastani …