Ethereum’s native token, Ether (ETH), rallied by more than 15% in the first 12 days of October. But, compared to Bitcoin’s (BTC) 30% gains in the same period, the second-largest cryptocurrency is currently in a downtrend when priced in BTC. So far into October (and the fourth quarter of 2021), the ETH/BTC exchange rate has plunged by over 12%, reaching 0.060215 BTC for the first time in more than two months on Oct. 12. The drop also pushed ETH/BTC below one of its longest-standing support zones, the 200-day exponential moving average (200-day EMA; the orange wave), as shown in the …

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 …

Shiba Inu (SHIB) has emerged as one of the best investments heading into the fourth and final quarter of 2021, with its price rising by over 390% in the first week of October. Nonetheless, the spin-off meme cryptocurrency now risks wiping most of those gains in the coming sessions. Yuriy Bishko, a Ukraine-based market analyst, discussed the potential bearish scenario based on Shiba Inu's recent price trends, which appear eerily similar to those recorded in the Dogecoin (DOGE) market earlier this year. For instance, SHIB's October price rally followed five months of consolidation inside a $0.00000398-wide price range. Similarly, DOGE's …

Ether (ETH) has been facing a bearish regression channel since Sept. 1, although it is currently battling to break its resistance. But despite some headwinds, ETH bulls will likely profit $115 million on Oct. 8's weekly Ether options expiry. The 21% pump over the past week was just enough to make the entire $250 million worth of neutral-to-bearish put options worthless. Regulatory fear limits the upside Understandably, negative headlines about increasing regulatory scrutiny toward crypto may have subdued prices last month, particularly as China banned all cryptocurrency activity outright. Major crypto exchanges, including Binance and Huobi, halted most of their …

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. …

Cryptocurrency markets rallied 12.5% over the past seven days to reach a $2.44 trillion market capitalization. However, that move doesn't seem to be inspiring confidence because the same level was tested 16 days ago when a 27% retrace followed Ether's (ETH) attempt to break $3,650 over the next six days. Regulation seems to be a key concerning factor for buyers as the United States House of Representatives is expected to vote on the $1 trillion infrastructure bill this month. In addition to defining who qualifies as a broker, the legislation would impose anti-money laundering (AML) and know-your-customer (KYC) type requirements …

Bitcoin (BTC) is facing rejection near $50,000, indicating that bears are not ready to give up without a fight. Many analysts expect Bitcoin to soar in the last quarter of the year and stock-to-flow model creator PlanB says the “worst-case scenario” for Bitcoin in October is $63,000 and $98,000 by November. PlanB is not alone in his bullish projection. Using Bitcoin’s relative strength index (RSI) indicator during the four-year cycle, Twitter commentator TechDev suggests that the second leg of the 2021 bull run may just be getting started. The trader expects Bitcoin’s cycle top to be around $200,000. While historical …

On Oct. 1, the cryptocurrency market experienced a 9.5% pump that drove Bitcoin (BTC) and Ether (ETH) to their highest levels in 12 days. A variety of reasons have been attributed to the price move, including the United States consumer price index, exchanges' diminishing supply and a "cup and handle" bullish continuation chart formation. Traders are not likely to find an explanation for the sudden move, apart from investors regaining confidence after the Sept. 19 drop was attributed to contagion fears from China-based property developer Evergrande. The Ethereum network has been facing some criticism due to the $20 or higher …

The month of September stayed true to its billing as a historically weak period for cryptocurrencies. Bitcoin (BTC) closed the month with a loss of about 7%. However, October may bring cheer to the bulls because Bitcoin has risen in six of the past eight years, falling only in 2014 and 2018. The bulls started the month on a positive note as bears scurried to close their short positions. Data shows that more than $270 million worth of short positions were liquidated within minutes. The enthusiasm for Bitcoin was shared by several altcoins that alsosurged higher on Oct. 1. Bitcoin …

Bitcoin (BTC) was keen to retain $44,000 on Oct. 1 as the monthly close sparked a late show of strength. BTC monthly close matches PlanB’s prediction Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it first returned to the $44,000 mark Thursday, then test lower levels before heading even higher. While still not tackling resistance at $45,000 and higher, Bitcoin did not disappoint with its end-of-month performance, this almost exactly matching predictions from stock-to-flow model creator PlanB for a second month running. Aug>47k✅ Sep>43k✅ Next targets: Oct>63k, Nov>98k, Dec>135k pic.twitter.com/C45nfQkQSC — PlanB (@100trillionUSD) October 1, 2021 With $63,000 …

Ether (ETH) price has seen quite a bit of volatility lately and to the surprise of many traders, the $4,000 level continues to present considerable resistance. Currently, the price is respecting the upward channel, which started in August. But every time the support is tested, the risk of an aggressive correction increases. With that in mind, the $340 million options expiry on Oct. 1 will likely be dominated by neutral-to-bearish put options. Bulls placed larger bets for the expiry but it appears that they were too optimistic for Oct. 1, so their $215 million call (buy) options are getting closer …