(VIANEWS) – Yesterday, the Bitcoin market surged to surpass $66,000, reaching a new all-time-high, while In the last 6 hours, Bitcoin went up by about two percent.

The first exchange-traded fund linked to Bitcoin made its U.S. stock market debut this week, marking a significant step forward in making the cryptocurrency industry mainstream. Simply put, investors can get in on crypto without buying any. The Bitcoin ETF saga is followed by years of US financial regulators avoiding cryptocurrency, which is known for being notoriously volatile. Following the EU’s openness to Bicoin ETFs, the U.S. government seems willing to try new things too.

A Bitcoin ETF will make it a passive investment option for many Wall Street traders. A new stream of investors will now be investing in Bitcoin, without having to use a cryptocurrency exchange but taking advantage of price leverage. Having this in mind, there’s a chance the Bitcoin market might behave a bit more like the S&P 500.

This could very well be just the beginning of a bull market on top of the already existing BTC and altcoins bull market. However, let’s not get excited too soon as the BTC market is starting to seem a little parabolic so some sort of pullback is expected, which may well serve as a great opportunity to secure new positions for some and an interesting market entry point for others.

It seems longer-term traders are holding onto the position as part of their portfolio, while others are still increasing their position. If we pull back to the $60k, $55k support levels there may be significant buying pressure. Bitcoin dropping to those support levels may not be a concern.

Latest Bitcoin Cryptonomics

Bitcoin (BTC-USD) Cryptocurrency is currently on bullish momentum by 2.03% in the last 6 hours. At 06:40 EST on Thursday, 21 October, Bitcoin (BTC-USD) is at $66,256.0000.

Volume

Today’s last reported volume for Bitcoin is 50958382185, 15.98% above its average volume of 43937196773.19.

All-Time High and Low

Bitcoin’s current value is at $66256, 1.67% below its all-time high of $67277 on Wednesday, 20 October.

Bitcoin’s current value is at $66256, 97460.14% above its all time low of $67277 on Saturday, 6 July.

Market Cap and Supply

Bitcoin’s current market cap is at 1248923379487. The total supply is 21,000,000.00, maximum supply is 21,000,000.00, and the circulating supply is 18,849,925.00.

Bitcoin (BTC-USD) Range

Regarding Bitcoin’s daily highs and lows, it’s 2.27% up from its trailing 6 hours low of $64,788.0000 and 0.78% down from its trailing 6 hours high of $66,780.0000.

Social Status

Currently, Bitcoin (BTC-USD) has 3447493 Twitter followers and 3454461 Reddit subscribers.

As of now, on Github, there are 30224 forks, 57984 stars, and 3853 subscribers.

Volatility

Bitcoin’s last week, last month’s, and last quarter’s current volatility was 2.23%, 1.50%, and 2.78%, respectively.

Bitcoin’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 3.04% (last week), 2.98% (last month), and 2.78% (last quarter), respectively.

Crypto Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Bitcoin’s crypto is considered to be oversold (<=20).

Other News About Bitcoin (BTC-USD)

  • Why industry experts think Bitcoin is headed for $80,000. According to Business Insider on Tuesday, 19 October, “What Happened: According to a recent study, Bitcoin is going to see another bullish charge following today’s listing of Bitcoin future-backed exchange-traded funds on the New York Stock Exchange following approvalby the U.S. Securities and Exchange Commission.”, “For Bitcoin to hit $80,000 it would need to see its price grow by about 27% from the price it is trading at as of Tuesday afternoon.”
  • Btc/usd forex signal: Bitcoin May soar to 70k after breakout – 21 October 2021. According to DailyForex on Thursday, 21 October, “The main catalyst for the strong performance of the BTC/USD has been the launch of the first Bitcoin ETF product in the US. “
  • Overnight traders get access to Bitcoin ETF on blue ocean system. According to Bloomberg Quint on Tuesday, 19 October, “Grayscale Investments LLC has filed an application to convert the world’s biggest Bitcoin fund into an ETF.”, “Investors looking to trade ProShares Bitcoin Strategy ETF outside of regular U.S. market hours can do so exclusively on Blue Ocean Technologies’ new alternative-trading platform.”
  • Crypto shares ride Bitcoin rally to outstrip energy, financials. According to Bloomberg Quint on Wednesday, 20 October, “For instance, it remains to be seen if the ETF listing will stoke the next surge in Bitcoin prices or end up being an opportunity to take profits, according to Craig Erlam, senior market analyst at Oanda.”
  • Why Bitcoin mining stock cipher mining is surging today. According to Benzinga on Wednesday, 20 October, “Cipher Mining Inc (NASDAQ:CIFR) is trading significantly higher Wednesday amid a sharpincrease in the price of Bitcoin (CRYPTO: BTC).”, “It is dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure in the United States.”

More news about Bitcoin (BTC-USD).

LEAVE A REPLY

Please enter your comment!
Please enter your name here