Friday's news regarding Bitcoin and the potential launch of an Exchange Traded Fund (ETF) had a dramatic and immediately positive impact on the leading cryptocurrency. The price jumped above 60k for the first time since May following media reports; that the US SEC (Securities and Exchange Commission) may soon allow the launch of such a fund. Well, beyond the initial euphoria, it seems that many insiders expected that news to come true. It also appears that the launch of an ETF by US authorities may be the precursor to the imposition of regulation that is directly opposite to what Bitcoin is and what it stands for: deregulation. Finally, similar products already exist elsewhere. However, and not wanting to let a good story get in the way of a move, it was clearly the right kind of news-based catalyst to help BTC beyond Friday's gain line. The price has gone up close to 63k. It fell as far as testing 59k in weekend trading last night but rebounded once again in Asia today, regaining the 62k handle. It is close to session highs right now, currently trading at $ 62,360 and clearly still has the all-time record (64,888) in its sights.
Dominance BTC 46.81 ETH dominance 18.20 Fear e Greed index 78, yesterday 79, last week 71.
As usual, you report the levels for intrafay trading and the 30-minute chart:
The weekly levels to keep an eye on and to use for building a grid trading bot: minimum value 46900, maximum 72000.
Happy trading everyone!
Chart from tradingview.com
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