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 …

Polkadot (DOT) chart technicals suggest it may rally to a new record high near $75 if DOT can manage to close above its $41–$43 range decisively. That’s according to a classic bullish reversal setup known as an inverse head and shoulders (H&S) that forms when the price undergoes three selloffs during a period of market consolidation. Specifically, the pattern contains an initial selloff, followed by a short-term price rally and another — deeper — selloff. That leads to one more small correction to the upside, followed by another selloff that bottoms out near/at the lowest level of the first selloff. …

Bitcoin (BTC) challenged brand-new support levels on Oct. 14 after overnight successes took the market past $58,000 Bitcoin “dips” to near $57,000 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it reversed toward $57,000 after hitting highs of $58,540 on Bitstamp. The moves mimicked the first time Bitcoin had attacked $58,000 in February — several attempts interspersed by consolidation, followed ultimately by a run to April’s all-time highs. Despite on-chain indicators showing that Bitcoin is a different beast in Q4, however, the mood was just as bullish this time around. “Bitcoin is most likely just continuing this grind …

Polkadot has laid out a schedule to debut parachain auctions on Nov. 11 following unanimous approval from the blockchain’s on-chain governance council members. The news marks a landmark achievement, as it fulfills the final core technical element of the white paper published five years ago. Parachains are uniquely distinctive layer-one blockchain platforms that operate laterally alongside the main Polkadot network, in addition to being tethered to the Polkadot Relay Chain. Their purposeful function can be witnessed across a multitude of areas from decentralized finance to smart contracts. Speaking at the Sub0 Conference as representatives of Parity Technologies, Polkadot founders Gavin …

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 …

Nonfungible tokens (NFTs) are gaining popularity as verifiably original digital assets stored on the blockchain. In some cases, these pieces of digital art have come with a pretty hefty price tag, rewarding investors who were willing to hold them for a long time. While most are held, some NFTs are burned with the intent to increase the scarcity of other assets in the collection. The result is that many NFTs are not being actively traded and instead are held idly in a wallet as an investor waits for the platform to increase in value. An action comparable to individuals holding …

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 (BTC) has continued to trade near the $55,000 level. The sharp rally in Bitcoin has pushed its market dominance from 40.70% on Sep. 12 to about 45% on Oct. 11. This shows that the strong recovery in cryptocurrencies has been led primarily by Bitcoin. This sharp run-up in Bitcoin has pushed the Fear and Greed indicator into the Greed zone. Although this indicator suggests that markets may have run up quickly in a short time, it does not necessarily signal a confirmed short-term top. History suggests that traders who sold their Bitcoin positions on this metric alone could have …

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. …

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 …

The wider cryptocurrency market fell under pressure on Oct. 4 as the momentum generated by Bitcoin’s (BTC) weekend spike above $49,000 was overshadowed by more global concerns related to the global financial system, rising inflation and supply chain challenges. Despite these struggles, many altcoins managed to rally and at the time of writing, the crypto gaming and decentralized finance sectors continue to grow in popularity. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Axie Infinity (AXS), PowerPool (CVP) and Polkastarter (POLS). Axie Infinity releases new character details Axie Infinity is …