Bitcoin (BTC) and Ether (ETH) have both witnessed aggressive profit-booking after hitting their respective new all-time high. This suggests that traders who had bought on rumors of a Bitcoin exchange-traded fund booked profits following the successful launch of the ProShares’ Bitcoin Strategy exchange-traded fund (ETF) (BITO). The bulls tried to stage a recovery in Bitcoin after the launch of the second BTC futures-linked ETF by digital asset manager Valkyrie on Oct. 22 but met with strong selling pressure at higher levels. The selling has pulled the greed level on the Crypto Fear and Greed Index from 84 on Oct. 21 …

Amid the ongoing rally of Binance’s native token, Binance Coin (BNB), the developers of Binance Smart Chain (BSC) have proposed more measures to maintain the token’s deflationary model and improve its intrinsic value. According to a new Binance Evolution Protocol, BEP-95, BSC developers are considering introducing a real-time burning mechanism for a portion of gas fees to reduce BNB supply and drive BNB value higher by increasing the demand. According to the BEP, BNB holders will decide how to dispatch the BSC gas reward. Releasing the proposal on Friday, BSC developers noted that the new BEP might decrease the total …

Bitcoin (BTC) surged to a new all-time high on Oct. 20, hitting close to $67,000. Ether (ETH) also broke above its immediate resistance and has started its march toward the all-time high. This pushed the total market capitalization of the crypto sector to a new all-time high above $2.64 trillion. The successful debut of the ProShares’ Bitcoin Strategy exchange-traded fund (BITO) acted as the trigger to boost sentiment in the crypto space. The ProShares’ ETF trading volume on the first day of the launch exceeded $1 billion, making it the second-most successful ETF debut based on the trading volume on …

ProShares Bitcoin Strategy exchange-traded fund (ETF) will enter the history books on Oct. 19 when it starts trading on the New York Stock Exchange under the ticker BITO. Market participants are likely to watch the volumes on the ETF closely to gauge the amount of participation from institutional investors. If the response is tepid for a few days, short-term traders may be tempted to book profits, but the bullish momentum may pick up further if demand remains strong. The latest CoinShares report for the week ending Oct. 17 shows that institutional inflows into crypto products have pushed the total assets …

Bitcoin (BTC) rose within a few steps of $63,000 today for the first time since April 18. The recent surge in the price may have been caused by various documents pointing to the eventual approval of a futures-based BTC ETF by the United States Securities and Exchange Commission. According to these documents, the regulator may be close to green lighting the application to list Valkyrie’s Bitcoin Strategy exchange-traded fund ETF on Nasdaq. Analysts pointed out that the price of gold had risen sharply leading up to the launch of the first U.S.-based gold ETF in 2004. Thereafter, the rally continued …

Ether (ETH) entered a slightly bullish channel earlier this month and currently, the price is marching toward the $3,800 level. Despite the recent turbulence, Ether bulls are set to bag a $53 million profit on Oct. 15's weekly options expiry. Investors also appear to be disinterested in Ether's recent underperformance versus Bitcoin (BTC) and to date, the altcoin's gains stand at 265%. If Ether manages to stay above $3,600 on Friday, 99% of the $180 million put (sell) options will become worthless. Ethereum smart contract competitors continue to pressure the leading network and at the time of writing, Ethereum's average …

Bitcoin (BTC) has been sustaining above $54,000 for the past few days but that has not resulted in euphoria among investors. Google Trends data shows that Bitcoin search interest has not picked up in recent days and is nearing one-year lows. Some analysts believe that this is a sign that only stronger hands are accumulating. A recent report from CoinShares also showed that institutional investors pumped more than $226 million into Bitcoin products in the week ending Oct. 8. The analysis firm estimates that the total assets under the management of institutional crypto products have ballooned to $66.7 billion, just …

The ongoing price boom in the Binance Coin (BNB) market is painting a classic bullish chart pattern with an upside target of $560. Dubbed as Cup and Handle, the pattern appears when the price forms an advance that appears like a U-shaped trend (Cup). That follows up with a formation of a descending channel range (Handle). A breakout above the Handle range typically leads to an upside continuation, with a bullish target at a length equal to the Cup's size. So it appears that BNB has undergone a price trajectory that looks like the Cup and Handle pattern. Furthermore, the …

The Binance cryptocurrency exchange has announced a $1 billion accelerator fund to expand the capabilities of the Binance Smart Chain ecosystem and advance mainstream adoption across the financial technology sector. The exchange showcased the eight-figure fund in a tiered development model across four specialist areas: Talent Development, Liquidity Incentive Program, Builder Program and Investment & Incubation Program. The announcement suggested that they will allocate $100M, $100M, $300M and $500M to each segment, respectively. The largest benefactor of the pot, the investment & incubation program, will focus on multi-chain expansion of the already burgeoning areas of the technological sphere. This includes …

Bitcoin (BTC) resumed its rally on Oct. 11 and climbed close to $58,000. This marks an almost 100% recovery from the May plunge and shows that any regulatory action by China is having only a temporary effect. The strong rally in Bitcoin in the past few days has boosted sentiment and analysts are back with their six-figure projections. Geoffrey Kendrick, head of emerging market currency research at Standard Chartered, anticipates Bitcoin to rally to $100,000 by early next year. David Gokhshtein, the founder of Gokhshtein Media and PAC Global, was even more bullish as he expects Bitcoin to reach $100,000 …

Bitcoin’s (BTC) rally above $50,000 seems to have received a boost from institutional buyers who are looking to hedge their portfolio against increasing inflation, said JPMorgan in a note to its clients on Oct. 7. The bank’s analysts speculated that institutional investors may be preferring Bitcoin over gold as a better hedge against inflation. A recent study titled “Cryptocurrencies and the Sharpe Ratio of Traditional Investment Models” by crypto asset management firms Iconic Funds and Cryptology Asset Group showed that the addition of cryptocurrencies to any portfolio improved returns and risk-reward performance of the portfolio. Bloomberg senior commodity strategist Mike …

Bitcoin (BTC) skyrocketed above the $1 trillion market capitalization on Oct. 6, pulling the total crypto market capitalization close to $2.3 trillion. This marks a complete 100% recovery from the June 22 lows when the total crypto market capitalization had plunged to about $1.15 trillion. According to Chainalysis, the Central and Southern Asia and Oceania region saw a massive increase of 706% in crypto transactions between July 2020 and June 2021. The total transaction value was $572.5 billion, accounting for 14% of the global transaction value. The Bank of America Corporation (BoA) subsidiary, BofA Securities, published a report on Oct. …