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Bitcoin ETF excitement is everywhere, but short-timeframe BTC price morale is wearing thin. Bitcoin (BTC) may not see a $40,000 BTC price reclaim despite increasing excitement over a spot exchange-traded fund (ETF). In recent Analysis , crypto market participants have started to reconsider just how bullish the ETF narrative really is for BTC price action. Trader: "Not sure" BTC price will reach $42,000 The dust continues to settle on the U.S. versus Binance regulatory bombshell, which is thought to involve a $4.3 billion fine and the removal of Changpeng Zhao, also known as CZ, as CEO. Bitcoin sank to one-week lows on the news, but a swift rebound took it back to near 18-month highs with the following 24 hours. At the same time, commentators began to suggest that the enforcement action was a timely move to pave the way for the first U.S. Bitcoin spot ETF. Long expected to form a watershed moment for crypto, the approval — while far from guaranteed — is slated to come in ear...

dYdX Chain Beta Mainnet launch enables active trading across 33 markets. Users can trade on dydx.trade with 20x leverage. There will however be no rewards during the beta stage. In a significant development for the decentralized derivatives trading space, the dYdX Chain has officially entered its beta mainnet stage. This move follows a decisive governance vote, with over 99% community support, allowing active trading across more than 33 markets. Beta Mainnet launch and trading features The transition from the alpha stage to the beta mainnet stage occurred at 8:45 a.m. EST on a Monday, as confirmed by the dYdX Operations subDAO, responsible for the decentralized infrastructure of the dYdX Chain. Users can now actively participate in trading via the dydx.trade platform, with access to over 33 perpetual markets offering up to 20x leverage. During this beta stage , no trading rewards will be distributed to users. However, validators and stakers will accrue ...

Bitcoin remains on track to deliver "possible" further gains of up to 30% versus current BTC price levels, says CryptoCon. Bitcoin (BTC) is on track to hit $45,000 in November as part of a classic BTC price cycle, popular analyst CryptoCon says. In an X thread on Oct. 25, the Bitcoin price model creator turned his attention to one based on Fibonacci retracement levels. Analyst: $45,000 next month "possible" for Bitcoin Bitcoin reaching 17-month highs this week has many market participants expecting a pullback, but CryptoCon believes that plenty of upside potential remains. Comparing current BTC price behavior to previous cycles, he showed that there is still room for BTC/USD to expand to the highest of the Fibonacci model ’s five targets to hit a mid-cycle top. Four have already been seen, with target four lying around 3.3% above this week’s top at $36,368. In between them are what are called “ phase s” — and November now marks a deadline for the next to complet...

Bitcoin bulls struggle to top their highs from the start of the week, while BTC price forecasts diverge over what could be next. Bitcoin (BTC) rejected at $28,000 after the Oct. 5 Wall Street open as a return toward six-week highs failed. BTC/USD 1-hour chart. Source: TradingView Bitcoin sees swift comedown after new $28,000 retest Data from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls attempted to match levels from earlier in the week. This encountered problems just above the $28,000 mark, however, with the subsequent hourly candle sending the market down up to $700, or 2.5%. Commenting on the status quo, on-chain monitoring resource Material Indicators was unsurprised. Its proprietary trading tools had warned of a fresh downturn, it said, and the chain of events could still repeat. “If you didn't see this rejection coming, then you might want to evaluate your tools, because both TA and Trend Precognition indicated a high probability of a rejection...

Bitcoin looks like a stablecoin compared to the U.S. dollar index on the day, with BTC price levels of interest close to spot. Bitcoin (BTC) stayed glued to $27,500 at the Oct. 4 Wall Street open as attention continued to focus on rampant United States yields. BTC/USD 1-hour chart. Source: TradingView Analysis: $27,000 now "key" for BTC price Data from Cointelegraph Markets Pro and TradingView showed a calm day for BTC price action while U.S. dollar volatility ruled. After its own spate of hectic trading to start the week, Bitcoin was once more seeking direction, with market observers marking out key price points. Popular trader Skew flagged market takers selling toward $27,600, lending “importance to this price level reclaim.” “Get that reclaim & decent pop will come,” he predicted in part of the day’s X Analysis . $BTC takers selling into $27.6K adds importance to this price level reclaim Get that reclaim & decent pop will come note coinbase CVD (actual buyer led...

The losses on US Treasuries recently surpassed $1.5 trillion and the likely outcome is turbulent markets, but how will Bitcoin price fare? The U.S. economy has been facing turbulent times lately, with the U.S. personal consumption expenditure (PCE) inflation index rising by a significant 3.5% over the past 12 months. Even when excluding the volatile food and energy sectors, it's evident that the efforts made by the U.S. Federal Reserve to curb inflation have fallen short of their 2% target rate. U.S. Treasuries have lost a staggering $1.5 trillion in value, primarily due to these rate hikes. This has led investors to question whether Bitcoin (BTC) and risk-on assets, including the stock market , will succumb to heightened interest rates and a monetary policy aimed at cooling economic growth. Theoretical losses of U.S. Treasury holders, USD. Source: @JoeConsorti As the U.S. Treasury keeps flooding the market with debt, there's a real risk that rates could climb even highe...

Bitcoin traders are truly "spooked" and sentiment crashes harder than BTC price as the shake-up from last week's losses continues. Bitcoin (BTC) starts a new week with traders licking their wounds after a 10% snap crash. BTC price action is struggling to recover from a manic end to the days prior to the weekend, and the fear is palpable going into what could turn out to be an equally volatile few days. With $26,000 so far forming the focus for the markets, theories are brewing over where Bitcoin might head next. Multiple factors are set to converge to provide some influence — United States macro data prints are firing up again, while the Federal Reserve will deliver key commentary on the economy at the annual Jackson Hole Economic Symposium. Within Bitcoin, meanwhile, short-term holders now face increasing unrealized losses, and on-chain transactions in loss are setting multi-year highs. Sentiment is back on the floor, but is the fear really justified? Cointelegraph take...

Bitcoin and several altcoins are taking a breather after the sharp rally of the past two days, but the general trend remains bullish. Ripple Labs’ victory in the case against the United States Securities and Exchange Commission gives a significant boost to the crypto industry. In addition to benefitting Ripple and XRP (XRP), analysts believe that the ruling will weaken the regulator’s case against Binance and Coinbase. In another positive event for the crypto space, the U.S. dollar index (DXY) completed a bearish head and shoulders pattern on July 12 and followed that up with a drop below the psychological level of 100 on July 13. The DXY typically moves in inverse correlation with Bitcoin (BTC), hence its weakness is a positive sign for the crypto bulls. Daily cryptocurrency market performance. Source: Coin360 LookIntoBitcoin creator Philip Swift said that increased on-chain spending volume shows that Bitcoin is in the first stage of a bull market. The sharp rally in XRP and several ...

The Federal Reserve opted to keep interest rates at their current level Wednesday, marking the first pause in 15 months.  Ongoing improvements in the labor market and low unemployment, coupled with elevated inflation, led to the committee’s decision, the central bank wrote in Wednesday’s statement.  The move is the first time the Fed has paused increases since starting to raise rates in March 2022. The stretch lasted ten consecutive rate increase rounds, a strategy the Fed hoped will curb the highest inflation the country has seen in more than four decades, but markets have fretted over whether a soft landing is achievable. “Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy,” central bankers wrote in Wednesday’s statement. “In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the ...

Bitcoin has reclaimed the $26,000 level, but will large cap altcoins follow BTC's rebound? Bitcoin (BTC) is witnessing a tough battle between buyers and sellers near the $25,000 mark. A minor cause of worry for the bulls is that even the news of BlackRock having filed an application for a Bitcoin spot exchange-traded fund could not boost prices higher. This suggests that investors remain cautious due to the regulatory overhang. However, this does not mean that professional investors have abandoned plans to invest in cryptocurrencies. The Laser Digital Investor Survey of institutional investors conducted in April shows that 90% of the respondents were ready to consider putting money into crypto if the asset was backed by a “large traditional financial institution.” Another positive was that 82% of the investors polled were positive on crypto’s prospects over the next 12 months. Daily cryptocurrency market performance. Source: Coin360 Glassnode co-founders Yann Allemann and Jan Happ...

The failure of First Republic Bank marks a volatile beginning to a busy macroeconomic week, while Bitcoin already faces downside pressure. Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history. After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as downside kicked in. After steadying below $29,000, BTC price action is already facing more potential pressure as First Republic Bank is placed in public receivership and taken over by JPMorgan Chase. The move, announced during Asia trading but before the Wall Street open, precedes an already heavy week in which the Federal Reserve will reveal its next interest rate shift. With a lot to take in, the potential for continued surprises on crypto markets is clearly in evidence. Cointelegraph takes a look at these risks and more in the weekly rundown of crypto, and specifically Bitcoin, price triggers. BTC price volatil...