The bitcoin price has skyrocketed in recent weeks, ahead of the introduction of exchange-traded futures funds. First Bitcoin bulls expect the price to reach $100,000 by the end of the year.
BTC/USD rose 1.3% to $62,453, slightly below the all-time high of $64,778.
ProShares futures exchange-traded funds will begin trading on the NYSE under the ticker symbol “BITO”.
An exchange-traded ETF is expected to keep BTC on the radar of investors who want to put money into the cryptocurrency market and want transparency and easy access.
Today’s trading on the market shows that investors believe that the popular cryptocurrency will not only break the previous record highs but also rise to $100,000 by the end of the year.
Long-term holders, or LTH, are starting to show signs of profit-taking. This may limit the bitcoin price rise in the near future.
There was a slight decrease in the net coin change indicator for long-term holders noted last week. This suggests that the level of coin release from these long-term holders is occurring after the price has risen above $60,000.
However, this circumstance was enough to continue spooning.
The Spot Market is Open
Tuesday, October 19, 2021