Bitcoin (BTC) is in line for continuation of its bull run, fresh analysis says as BTC/USD retains its 2.2% daily gains. $62,500 eyed for BTC price bounce As data from Cointelegraph Markets Pro and TradingView tracks Bitcoin's best day for a week, confidence in higher levels is building. Earlier Wednesday, the largest cryptocurrency abruptly exited a sideways trading channel to add almost $2,000 in just over an hour. Amid calls of a potential breakout, popular trader Pentoshi believes that $62,500 may be buyers' only chance to "buy the dip." "$BTC any pullback towards 62.5k is a great bid zone to …

"Uptober" is over but as Zhu Su tweeted earlier today, the crypto market rally could extend through "Upvember, Upcember" and beyond. The month of October was stellar for Bitcoin (BTC) and Ether (ETH) primarily because each hit new all-time highs and even though the prices are consolidating now, traders are still wildly bullish. Uptober, Upvember, Upcember — Zhu Su (@zhusu) November 1, 2021 The steady emergence of the Metaverse is also driving excitment within the crypto sector as it promises to be one of the driving forces behind development in the cryptocurrency space. The concept of a Metaverse is also …

Bitcoin (BTC) and Ether (ETH) had their highest monthly close ever in October, indicating strong momentum that favors buyers. The focus now shifts to November, which has largely been bullish for Bitcoin. Since 2013, Bitcoin has closed November in the red on only two occasions, in 2018 and 2019. Another positive impetus for Bitcoin could be the tailwinds from the U.S. stock markets, which also have an enviable record in November. The S&P 500 has recorded a median rise of 2% in November, the only month of the year to achieve such impressive median returns. Data from Glassnode also shows …

Bitcoin (BTC) is still in a corrective phase but Ether (ETH) has attracted strong buying, which pushed it to a new all-time high on Oct. 29. The successful Altair Beacon chain upgrade seems to have boosted sentiment and it also paves way for the merge with the Ethereum mainnet and the change to proof-of-stake. Meanwhile, MicroStrategy has continued to add to its already impressive Bitcoin stack. The company’s Q3 report shows that it added 8,957 Bitcoin, taking its haul to 114,042 Bitcoi as of Sept. 30, purchased at an average price of $27,713. The software firm’s appetite does not seem …

Bitcoin (BTC) has broken back below the psychological support at $60,000. While this seems to be negative in the short term, the price action has continued to mirror its movement in 2017. If the similarity continues for the remainder of the year, Bitcoin bulls may be in for a party. PlanB, creator of the popular Bitcoin Stock-to-Flow (S2F) model, recently proclaimed in a tweet that the second leg of Bitcoin’s bull market has begun. If Bitcoin’s price action continues to follow the S2F model, the analyst believes a rally to $100,000 to $135,000 may be possible by the end of …

A new decentralized autonomous organization is determined to become the DAO that serves all other DAOs. Looking at it narrowly, the goal of SubDAO Labs is to provide small to mid-size organizations with the tools they need to move beyond centralized governance models and form feature-rich, effective, and sustainable decentralized autonomous organizations. Arguing that the DAO governance model “has gone from obscurity to the preferred form of governance for most blockchain projects,” SubDAO believes one of the biggest stumbling block to its widespread adoption is that “it is not practical for smaller organizations or those without sufficient fund to develop …

Bitcoin (BTC) has recovered from the dip below $60,000, indicating strong buying at lower levels. CryptoQuant CEO Ki Young Ju said that investors used market orders to buy $840 million worth of Bitcoin futures on dips to $60,000. This suggests that analysts are positive for the rest of the year and anticipate the bull run to continue. Analyst TechDev believes that Bitcoin’s price action in 2021 is following the same trajectory as in 2017. If that were to happen, Bitcoin could be getting ready for a sharp move higher in the remainder of the year. In a step that could …

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 …

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 …

Manta Network, a privacy layer project for the Polkadot ecosystem, has completed a new funding round to continue scaling decentralized finance (DeFi) use cases by boosting blockchain privacy. Announced Tuesday, Manta Network’s latest $5.5-million funding round included participation from more than 30 venture funds, including crypto hedge fund CoinFund and alternative investment firm ParaFi Capital. Other investors included Web 3. investment fund LongHash Ventures, CMS Holdings, Divergence, Spartan Group, Global Coin Ventures, SkyVision Capital, Zee Prime and SNZ. The funding has also featured some of the industry’s prominent individual investors from major cryptocurrency companies such as Digital Currency Group, Consensys …

Polkadot founder Gavin Wood has unveiled a $777-million development fund ahead of the network’s parachain lease auctions. Wood tweeted on Sunday that Polkadot’s treasury has allocated more than 18.9 million Polkadot (DOT) (worth roughly $777 million at the time of writing) to a development fund that will be disbursed through community governance. Wood gave broad suggestions as to how the funds might be spent, stating the capital will be mobilized to realize the community’s vision for “building, improving, educating” Polkadot’s ecosystem, in addition to “anything else that the Polkadot governance believes valuable.” According to Polkadot’s Wiki, the treasury funds can …

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 …