Bitcoin approaches all-time high but hits resistance at $60,000
The price of Bitcoin jumped towards its all-time high on Friday morning after a Bloomberg report said the US Securities and Exchange Commission (SEC) is set to allow a US Bitcoin Futures ETF to begin trading next week, citing people familiar with the matter. Hopes that a Bitcoin futures ETF would be approved by the SEC have supported the price in recent weeks. Some exchanges show the world’s largest cryptocurrency reached $60,000 on Friday morning following the Bloomberg story. Bitcoin previously hit an all-time high in April of $64,778.
The approval of a Bitcoin ETF would give more opportunity to traders willing to invest in cryptocurrencies without the risk of buying the physical asset and is seen as a major stepping stone on the path for cryptocurrencies to become a mainstream financial market asset.
There are a number of fund managers with applications for a Bitcoin futures ETF including ProShares, Valkyrie, Invesco, and VanEck. Earlier this week, Cathie Wood’s ARK Invest also filed for a Bitcoin futures ETF.
SEC Tweet
Further adding weight to the argument that the first Bitcoin futures ETF will begin trading was a tweet from the SEC’s Investor Education Office.
“Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits,” the tweet said.
It is worth nothing that one of the previous times the SEC tweeted out this bulletin was two days prior to the Bitcoin Strategy Mutual Fund BTCFX begun trading. Some analysts have taken this as a signal that a Bitcoin futures ETF will begin trading imminently. At 11:00BST, Bitcoin was trading just off its daily high at $59,366.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 91.2% | 2 | $27 055.17 | 2.38% | 1.60% | $527 540 867 751 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 91.2% | 5 | $1 656.49 | 3.15% | 4.11% | $199 168 008 916 |  |
|
| 3 |  USDT |
Tether predictions | 90.8% | 1 | $1.000077 | 0.08% | 0.02% | $83 283 016 698 |  |
|
| 4 |  BNB |
Binance Coin predictions | 91.2% | 4 | $215.22 | 1.40% | 1.80% | $33 111 371 704 |  |
|
| 5 |  XRP |
XRP predictions | 91.2% | 9 | $0.510780 | 2.12% | 0.16% | $27 230 864 156 |  |
|
| 6 |  USDC |
USD Coin predictions | 95.6% | 1 | $1.000194 | 0.01% | 0.02% | $25 592 409 818 |  |
|
| 7 |  STETH |
Lido stETH predictions | 95.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 8 |  WTRX |
Wrapped TRON predictions | 83.6% | 24 | $0.088849 | 4.32% | 6.87% | $9 033 845 103 |  |
|
| 9 |  ADA |
Cardano predictions | 90.4% | 6 | $0.249876 | 2.09% | 1.62% | $8 777 753 884 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 92.8% | 5 | $0.061502 | 1.34% | -0.11% | $8 683 991 485 |  |
|
| 11 |  SOL |
Solana predictions | 88% | 20 | $20.16 | 4.48% | 2.94% | $8 321 534 374 |  |
|
| 12 |  TRX |
TRON predictions | 83.6% | 22 | $0.087499 | 2.25% | 5.19% | $7 794 692 941 |  |
|
| 13 |  TON |
Toncoin predictions | 60.4% | 84 | $2.20 | 2.66% | -5.57% | $7 546 155 725 |  |
|
| 14 |  DAI |
Dai predictions | 91.2% | 1 | $1.000251 | -0.01% | 0.04% | $5 349 229 114 |  |
|
| 15 |  DOT |
Polkadot predictions | 89.6% | 7 | $4.07 | 1.81% | 1.13% | $5 003 930 047 |  |
