Optimism is bordering euphoria in the cryptocurrency market after a trove of documents pointed toward the eventual approval of Valkyrie’s Bitcoin (BTC) exchange-traded fund, or ETF, application by the United States Securities Exchange Commission before the end of the month. Data from Cointelegraph Markets Pro and TradingView shows that price action for BTC spiked in the early trading hours on Friday, with bulls managing to rally to an intraday high at $61,880, marking the first time BTC has surpassed $60,000 since April. Here’s what traders and analysts are saying about what comes next for Bitcoin now that its price is …

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 …

Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag. In detail, bull flags are bullish continuation patterns that emerge when the price consolidates following a strong move higher. In doing so, the price tends to trend lower while leaving behind a sequence of higher lows and lower lows. A breakout occurs when the price closes above the flag’s upper trendline (or resistance). In other words, the price can rise by as much as the height of the previous uptrend, also known as a …

Open interest (OI) for Bitcoin (BTC) Futures trading on the Chicago Mercantile Exchange (CME) inched toward a new record high on Oct. 14 as BTC reclaimed its five-month high of $58,550 on BitStamp. The total number of outstanding derivatives contracts on the CME Group's Bitcoin Futures market reached $3.22 billion, just $40 million below its record high logged in Feb 2021, according to data provided by ByBt.com. Nonetheless, the OI came out to be higher than it was at the Bitcoin price's peak in mid-April. In detail, the Bitcoin Futures OI on CME was $3.02 billion on April 14, the …

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. …

The ongoing price boom in the Binance Coin (BNB) market is painting a classic bullish chart pattern with an upside target of $560. Dubbed as Cup and Handle, the pattern appears when the price forms an advance that appears like a U-shaped trend (Cup). That follows up with a formation of a descending channel range (Handle). A breakout above the Handle range typically leads to an upside continuation, with a bullish target at a length equal to the Cup's size. So it appears that BNB has undergone a price trajectory that looks like the Cup and Handle pattern. Furthermore, the …

Ethereum’s native token, Ether (ETH), rallied by more than 15% in the first 12 days of October. But, compared to Bitcoin’s (BTC) 30% gains in the same period, the second-largest cryptocurrency is currently in a downtrend when priced in BTC. So far into October (and the fourth quarter of 2021), the ETH/BTC exchange rate has plunged by over 12%, reaching 0.060215 BTC for the first time in more than two months on Oct. 12. The drop also pushed ETH/BTC below one of its longest-standing support zones, the 200-day exponential moving average (200-day EMA; the orange wave), as shown in the …

XRP has a good chance of hitting $1.50 in the fourth quarter of 2021 after painting a bullish crossover between its 20-day and 50-day exponential moving averages (EMA). The so-called golden cross has appeared multiple times on XRP charts in history. Its last occurrence was on Aug. 10, which followed up with an 80% price rally later, with XRP topping out seasonally at $1.43 before pulling back to the downside. Similarly, a close of XRP’s 20-day EMA above 50-day EMA on Feb. 4, coincided with an approximately 400% price rally afterward. In doing so, XRP reached a year-to-date high of …

The run-up in the price of Shiba Inu (SHIB) so far in October has pushed the SHIB token to become the 20th largest digital asset by market capitalization. Shiba Inu's circulating market valuation jumped to $11.08 billion earlier this week and is currently above $10 billion, putting it in the top-20 by market cap for the first time. As a result, the Dogecoin-inspired meme cryptocurrency became more valuable than popular blockchain projects like Stellar (XLM), Polygon (MATIC) and Tron (TRX). The growth in Shiba Inu's valuation came on the heels of a tweet published by Elon Musk. On Oct. 4, …

The early morning momentum that pushed Bitcoin (BTC) above $50,000 on Oct. 5 continued throughout the day after bulls took control of the market and bid the price of BTC up near $51,900. Data from Cointelegraph Markets Pro and TradingView shows that after a brief period of consolidation, bulls resumed their drive higher, and many analysts are watching to see if BTC’s price holds the $50,000 level as support. Since touching $40,885 on Sept. 29, BTC’s price has rallied 26.8% and reignited traders’ hope for a year-end close above the $100,000 mark, a level that has become the de facto …

Bitcoin is back above $50,000 and bulls are currently attempting to secure a daily close above the oft-disputed level. The strength of Bitcoin (BTC) has also helped to kickstart momentum in the altcoins and at the time of writing, several tokens are seeing gains in excess of 20%. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Linear (LINA), Secret (SCRT) and Presearch (PRE). LINA moves closer to launching full governance features Linear is a decentralized delta-one asset protocol that is cross-chain compatible between the Ethereum network and the Binance Smart …

Bulls flexed their muscles on Oct. 4 and proof of this came as Bitcoin’s (BTC) price rallied within $500 of the $50,000 mark. This move toward the key psychological resistance helped to pull the Crypto Fear & Greed Index out of the "fear" zone and into the "neutral' state on Oct. 4. The price action for the top crypto has seen increased volatility in recent weeks as countries like China have increased their crackdown on cryptocurrencies, a move which former United States Central Intelligence Agency agent Edward Snowden says has “just made Bitcoin stronger.” Data from Cointelegraph Markets Pro and …