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Shiba Inu Token Is Up 25% Following Coinbase Listing

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Source: https://cryptobriefing.com/shiba-inu-token-is-up-25-following-coinbase-listing/?utm_source=main_feed&utm_medium=rss

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Bitcoin’s Latest All-Time High Shines Light On New Prospects To Watch Out For

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Bitcoin Options Volume Explodes Higher As Market Warms Up To First U.S. BTC ETF

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Bitcoin broke through the previous price roof in the wake of an ETF approval in the US and reached an all-time high of $66,909, eliciting huge excitement among proponents. From Reddit, Medium, and Facebook, to Twitter, the social media realm was awash with massive praises of the digital currency, from the right and left segments.

BTCUSD Chart by TradingView

And it appears to be just the beginning of good things ahead for the entire digital currency industry, CTO and Co-founder of Bitcoin rewards app Lolli, Matt Senter, told ZyCrypto.

“We Bitcoiners love ‘Uptober,’ our cheeky nickname for October, and it’s living up to its name. With bitcoin at a new all-time high, Bitcoin is proving that historical price patterns are no joke.”

“Bitcoin has characteristically performed very strongly during October, kicking off a price climb that continues through the first of the new year. At this rate, with increasing institutional adoption and a warming regulatory environment, we believe the bull run is just getting started.”

Probably the next big milestone to watch for Bitcoin is at $72,800, when Satoshi Nakamoto’s striking creativity will surpass the total value of all silver globally in market capitalization, according to the Chief Strategy Officer at Oslo human rights foundation Alex Gladstein.

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That’s the next big milestone for Satoshi Nakamoto’s remarkable invention, once just a string of code on the solitary computer, running quietly in the wake of the Great Financial Crisis.”

At $1.2 trillion in market capitalization, Bitcoin is close to transcending silver in market cap by an entire 90%. Silver is at $1.38 trillion. When there is excessive news of crypto hitting an all-time high, many people begin to sell it to cash in on profits. But many holders may currently still be willing to hold on to their dear coins expecting further breakouts as the fundamentals and prospects by analysts are still looking great. 

At this rate, Bitcoin is up 205 percent this year. But the debut of the Bitcoin ETF approval in the United States has sparked a huge demand. Head of Communications at Lolli Aubrey Strobel said the ETF approval may still activate further price pumps because it makes Bitcoin acceptable to institutional investors.

“The SEC’s approval of the futures ETFs also signals promise for other Bitcoin-related financial products – a sign of a warming regulatory environment for Bitcoin in the U.S., where financial authorities are recognizing that Bitcoin is very much here to stay and that there is an ever-growing body of consumers with interest in owning or investing in Bitcoin.” 

Strobel said that Bitcoin’s all-time high price is the latest validator that Bitcoin is the most secure store of value in history given the high yearly ROI – especially in the last decade.

“Bitcoin has consistently discredited critics who deride its volatility as an augur of a coming price crash by breaking ever-higher price ceilings, inviting growing institutional and mainstream interest.” 

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Source: https://zycrypto.com/bitcoins-latest-all-time-high-shines-light-on-new-prospects-to-watch-out-for/

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Blockchain

Are Bitcoin Bulls Taking Control? Crypto Analyst Benjamin Cowen Looks at Key Support Level for BTC

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Cryptocurrency analyst and trader Benjamin Cowen says he’s keeping a close watch on a key price level for Bitcoin that may indicate that bulls are in control.

In a new strategy session, Cowen tells his 580,000 YouTube subscribers that if Bitcoin closes above the $60,000 price on the weekly chart, it would indicate that the flagship cryptocurrency has found strong support.

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Ideally we can close it above $60,000 [on the weekly chart]. Why? Because it might indicate that we are finding support at the same level that Bitcoin previously found resistance. It’s the only reason, okay.

Now, is it possible we still come back down? Yeah, it’s possible. But I’m just saying having the bulls make a stand at this level is showing that there are buyers, there are bulls, they are trying to show that what was previously held as resistance for three months is now being held as support.”

The crypto analyst also says that $60,000 is a key psychological level for Bitcoin as bulls struggled to stay above that level earlier this year.

“Look how much time we’re spending above $60,000. We didn’t really spend that much time above $60,000 earlier this year. We had some daily candles above it. We moved above it right here (March 2021). We had a move above $60,000, and we came above it right here (April 2021).

But it’s not like we spent a lot of consequential time above $60,000. We spent most of it below $60,000. Now we’re kind of hanging out above $60,000 and it feels pretty good.”

Bitcoin is trading at $63,220 at the time of writing, about 6% off its record high reached over five days ago, according to CoinGecko.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Source: https://dailyhodl.com/2021/10/26/are-bitcoin-bulls-taking-control-crypto-analyst-benjamin-cowen-looks-at-key-support-level-for-btc/

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Investors Pumped A Record-Breaking $1.47 Billion Into Crypto Funds On Heels Of Bitcoin ETFs Launch

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US-based Investment firm launches first Bitcoin 401(k) plan following investors demand

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Bitcoin and the aggregate crypto market are treading firmly in the bullish territory — and big-money investors have increased their allocation accordingly. According to the latest CoinShares report, cryptocurrency funds attracted close to $1.5 billion in inflows last week following the debut of the first Bitcoin futures exchange-traded funds (ETF) in the United States.

Institutional Investors Pile Into Bitcoin

On Monday, CoinShares reported that the crypto market witnessed a staggering $1.47 billion of new money flow into cryptocurrency funds, the highest level on record. The last weekly record was set in February this year when inflows reached $640 million. Last week’s inflows catapulted the year-to-date total to $8 billion.

The report indicates that the dramatic increase in inflows in the past week was tied to the U.S. Securities and Exchange Commission authorizing two Bitcoin ETFs. “This is a direct result of the U.S. Securities and Exchange Commission (SEC) allowing a bitcoin ETF investing in futures and the consequent listing of two bitcoin investment products,” the report by the European digital asset manager said.

Suffice to say, the SEC fueled a wave of exuberance in the crypto world last week after approving the first Bitcoin futures ETF which sent the price of the benchmark cryptocurrency to a new record high near $67,000. In particular, Wall Street opened its doors for ProShares Bitcoin Strategy ETF on October 19 and Valkyrie Investments’ Bitcoin futures ETF just days later. These events have been hailed as breakthrough moments in cryptocurrency history. 

ProShares alone brought a whopping $1.2 billion to the cryptocurrency market in the past week, according to CoinShares. The ETC Group came in second with $111 million. 

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Overall, the majority of institutional managers poured their money into Bitcoin-centric investment products, with these products representing 99% of total weekly inflows into crypto funds.

Demand For Ether Flattens As Investors Turn To Solana, Cardano

As bitcoin continues attracting the attention of institutional money, some altcoins are seeing investors offloading exposure. The world’s second-biggest crypto Ethereum, for instance, has registered a dwindling institutional appetite for the third consecutive week.

CoinShares noted that outflows from ethereum-based funds amounted to $1.4 million last week. This is being attributed to investors taking some profits as the underlying cryptocurrency’s price raced to all-time highs.

While money moved out from Ethereum, products tracking other altcoins have generated inflows, with Solana (SOL), Cardano (ADA), and Binance Coin (BNB) posting inflows of $8.1 million, $5.3 million, and $1.8 million respectively. 

In total, the altcoin market attracted $15 million worth of inflows, which pales in comparison to Bitcoin’s institutional inflows.

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Source: https://zycrypto.com/investors-pumped-a-record-breaking-1-47-billion-into-crypto-funds-on-heels-of-bitcoin-etfs-launch/

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