Bitcoin momentum slowed downBTC Momentum has taken a small break after a significant move into the 40K territory. In the short term, I anticipate a continuation of the pullback to a previously established support area between FWB:39K and $38K, especially with holidays approaching. I will be closely monitoring the market and placing alerts to stay informed. This bearish expectation is based on the 50 EMA line acting as resistance and a previously double top pattern. However, it's crucial to remain vigilant as unforeseen events during the holidays can influence market dynamics. In the event of unexpected price action, it's important to have a risk management strategy in place.
Markert
Traditional Finance Embraces CryptocurrencyValkyrie Funds will launch a Bitcoin ETF on October 20, reflecting growing interest in cryptocurrencies among traditional finance players.
They've been involved in crypto since 2021 and already have a Bitcoin futures ETF on Nasdaq.
Other major firms like BlackRock and Fidelity are also seeking approval for Bitcoin ETFs.
Bitwise recently dropped its plan to include Ethereum, focusing solely on Bitcoin.
The SEC's Chair, Gary Gensler, discussed cryptocurrency ETFs during a Senate hearing but didn't give a clear answer on spot ETF approvals