Ether (ETH) flirted with its $4,380 all-time high on Oct. 21 but failed to breach it by a few dollars. Some analysts, including independent market analyst Scott Melker, believe that an exchange-traded fund (ETF) approval is the next logical step for the U.S. Securities and Exchange Commission (SEC). My bet is we will see an Ethereum Futures ETF before we see a physical Bitcoin ETF. — The Wolf Of All Streets (@scottmelker) October 20, 2021 However disappointed Ether bulls might be, they are likely to score a $78 million profit on Oct. 22's options expiry. Bears were apparently caught off-guard …

Two or three weeks ago, when Bitcoin (BTC) was trading below $52,000, a trader betting on $65,000 by Oct. 22 would have been considered extremely optimistic. The fact that 98% of the put (sell) options for Bitcoin's weekly options expiry on Oct. 22 has been placed below that price proves that this is true. Fast forward to this week, and the successful launch of the first BTC exchange-traded fund (ETF) in the United States and news that Digital Currency Group (DCG), the parent company of the Grayscale Bitcoin Trust, increased its limit to acquire up to $1 billion worth of …

Solana’s SOL coin rallied higher on Oct. 21 as traders shifted focus from Bitcoin (BTC) to the most promising altcoins. Notably, the price of SOL increased by more than 11% to over $196 a token, the highest level since Sept. 11. Combined with the gains recorded in the previous 36 hours, SOL was up by as much as 26%. Capital rotation in play? A new Bitcoin all-time high price on Oct. 20 triggered price rallies across the altcoin market as well. For instance, Ethereum’s native Ether (ETH) token posted better intraday profits on Oct. 20, closing 7.32% higher around $4,170. …

Bullish sentiment is running high across the cryptocurrency market on Oct. 20 as Bitcoin’s (BTC) surge to a new all-time high at $67,000 thrust the digital asset into uncharted territory, with investors closely watching to see how altcoins and decentralized finance (DeFi) tokens react to the move. The DeFi sector has also benefited from BTC’s bullish breakout, and today, the total value locked (TVL) across all DeFi protocols climbed to a new record high. According to data from Defi Llama, which collects data from DeFi protocols across all major blockchain networks, including Binance Smart Chain, Avalanche and wrapped Bitcoin (wBTC), …

Ethereum's native token Ether (ETH) is likely to hit its own record high in the short term as ETH has broken above $4,000, a crucial resistance level. Ethereum breaks $4,000, nearing new all-time high ETH price rallied on Oct. 20 by over 5% to approach $4,100 on the Coinbase exchange for the first time since May 2021. The cryptocurrency's run-up above $4,000 appeared primarily in the wake of Bitcoin (BTC) breaking above $65,000 to enter price discovery. According to data provided by Crypto Watch, the 30-day correlation between Bitcoin and Ether came out to be 0.81. That shows an 81% …

Bitcoin’s (BTC) ongoing price rally above $64,000 has coincided with a substantial drop in its reserves across all exchanges. According to data provided by CryptoQuant — a South Korea-based blockchain analytics service — the amount of Bitcoin held in exchanges’ wallets dropped to as low as 2.379 million BTC earlier this week, the lowest in more than three years. Currently, the reserves are around 2.38 million BTC. CryptoQuant noted that the declining Bitcoin reserves showed the availability of fewer BTC tokens “for selling, altcoins purchasing, and margin trading.” Additionally, that also reflected traders’ intention to “hodl” the cryptocurrency. Demand for …

Cardano (ADA) has formed a deadly "death cross" on its daily chart against Bitcoin (BTC) — a market signal that's generally seen as a warning of more downside in the near term. The ominously-titled indicator kicks in when an asset's short-term moving average closes below its long-term moving average. In doing so, it calls for technically-minded traders to increase their bearish positions in the market. ADA/BTC in trouble On Tuesday, ADA's 50-day exponential moving average (50-day EMA; the velvet wave) dropped below its 100-day exponential moving average (100-day EMA; the blue wave). That marked the sixth 50–100 EMA bearish crossover …

The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000. DXY poised for another 1.75% drop Rising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the price to break below the wedge’s support line and later fall by as much as the maximum distance between the …

Ethereum's native token Ether (ETH) has rallied by more than 415% this year to over $3,800, and two major bullish patterns developing on its charts highlight the scope for another upside move, ultimately toward the $6,200–$6,500 price range. ETH price eyes $4K resistance breakout The first decisive break above the psychological $4,000-mark, which serves as a resistance trendline to a five-month-old ascending triangle and a cup and handle pattern, could trigger a textbook price rally in the coming sessions. In detail, the $6,250-level appears as the profit target for the Ascending Triangle pattern, calculated by measuring the widest distance between …

The Shiba Inu (SHIB) market is in a very strong bull market in 2021, and one major continuation pattern on its longer timeframe charts highlights the scope for an additional 90% upside move ahead. In detail, SHIB rose over 1,250% year-to-date (YTD) to establish the yearly high at $0.00003528 (data from Binance) on Oct. 8. Later, the cryptocurrency cracked under the profit-taking sentiment, leading to a 41.50% price correction to $0.00002060. But bulls started accumulating SHIB near the said low level. A rebound ensued and the price rallied over 55% to $0.00003200, where it met another round of selloffs. Overall, …

Bitcoin’s (BTC) market tendency to crash by over 80% after logging strong bull runs might come to an end. That is according to a new report published by California-based hedge fund Pantera Capital. In detail, the report notes that the recent periods of BTC price drops have been less severe than in the past. For instance, in 2013–2015 and 2017–2018, Bitcoin crashed by as much as 83% after topping out near $1,111 and $20,089, respectively. Similarly, the cryptocurrency’s bull run in 2019–2020 and 2020–2021 led to massive price corrections. Nevertheless, the scales of their retracements afterward were -61% and -54%, …

Solana (SOL) price technicals suggest SOL can hit $275 in the coming sessions. The upside outlook for the world's sixth-largest cryptocurrency by market capitalization comes as it consolidates inside a range that appears like a bull pennant. In detail, Bull Pennants are bullish continuation indicators that form as the price consolidates inside a symmetrical triangle-like structure following a strong move upside. The consolidation trend accompanies declining volumes, reflecting on the trend's underlying weakness. And, as the price approached the apex — the point where the pennant's trendlines converge, it tends to undergo a breakout to the upside, with the bull …