Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.
ETF news
Spot Bitcoin ETF demand soars to a six-month high, but BTC futures contract volumes “remain somewhat subdued” and could be a reason why the price is constrained.
In the United States, issuers are seeking to register ETFs for Solana and XRP ahead of the November presidential elections.
Retail investors, not institutions, have been responsible for most of the demand for spot bitcoin ETFs since their launch, says a new report from Binance.
Bitcoin’s correction ignited selling in altcoins, which are slipping below critical support levels.
Bernstein’s report is the latest in a series of bullish forecasts from institutional market researchers ahead of the November US presential election.
While global markets embrace crypto ETFs, Japan’s strict tax policies and regulatory caution impede further adoption.
BlackRock’s Bitcoin fund carried over to the rest of the United States spot Bitcoin ETFs, which recorded a net inflow of $294 million on Oct. 21.
Spot Bitcoin ETF inflows can have a delayed effect on the BTC price, which takes a couple of days to materialize, according to market analysts.
Bitcoin’s bullish weekend price action could be a sneak peek of what’s to come this week. Will ETH, SOL, DOGE, and SHIB follow?