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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

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    Best Crypto Exchange Affiliate Programs in 2023

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    What does Crypto Index fund Means and How to Invest?

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    Who Will Reach $1 First In 2023?

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    5 Best New BSC Cryptocurrencies To Invest In 2023

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    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

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    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

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    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

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The BTC Rally Isn’t Over As Valkyrie Will Launch the Second U.S Bitcoin ETF on Friday

2021-10-21
in Bitcoin
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Bitcoin Price Knocks On $60,000 Amidst Growing Rumors Of BTC Futures ETF Approval By The US SEC
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On Wednesday, October 20, the Bitcoin (BTC) value rallied all the best way previous $67,000 hitting a brand new all-time excessive whereas coming into the worth discovery zone. Bitcoin has retraced partially from these highs and is presently buying and selling at $65,090 with a market cap of $1.226 trillion.

Nevertheless, evidently the Bitcoin rally isn’t over anytime quickly. After a powerful response to the ProShares Bitcoin Technique  ETF launched earlier on Tuesday, Valkyrie is all set to carry the second U.S. Bitcoin Futures ETF forward this week on Friday. Talking to Bloomberg, a spokesperson from Valkyrie said:

The Valkyrie Bitcoin Technique fund will start buying and selling on the Nasdaq alternate on Friday, a spokesperson for the corporate mentioned. The agency deliberate to commerce beneath the ticker BTFD, however modified again to the initially deliberate BTF.

The ProShares Bitcoin ETF (BITO) witnessed string buying and selling volumes on the primary day recording a turnover of $1 billion. This additionally made it the second-highest ETF fund launch within the historical past of the markets.

If Valkyrie manages to copy the efficiency from ProShares, we might presumably see Bitcoin crossing $70,000 and extra.

Bitcoin On-Chain Metrics Fueling the Rally

The on-chain metrics for the Bitcoin blockchain have performed an important position on this new all-time excessive. On-chain knowledge supplier Santiment notes that the current BTC value rally comes on the backdrop of rising BTC circulation and deal with exercise.

🥳 #Bitcoin has hit a brand new #AllTimeHigh of $66,952, making historical past for the primary time for the reason that final #ATH on April 14th. Sentiment is predictably rising, and essential metrics like rising circulation and deal with exercise performed an enormous position on this milestone. https://t.co/UVoC1JMCEv pic.twitter.com/Yjr0nDY6Pv

— Santiment (@santimentfeed) October 20, 2021

Alternatively, the long-term holders (LTH) of Bitcoin have been rewarded nicely as soon as once more. As Glassnode notes, LTHs have been realizing earnings to the tune of 300%. The info supplier notes:

Because the Bitcoin market consolidates under all-time-highs, Lengthy-Time period Holders are capable of realise bigger revenue multiples. The present spending sample within the LTH-SOPR metric signifies they’re realising 300% earnings on mixture. This compares to 800% final time $BTC was at $64k.

Courtesy: Glassnode



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