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Bitcoin approaches all-time high but hits resistance at $60,000

15 Oct 2021


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.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 91.2% 2 $27 055.17 2.38% 1.60% $527 540 867 751 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 91.2% 5 $1 656.49 3.15% 4.11% $199 168 008 916 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000077 0.08% 0.02% $83 283 016 698 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.2% 4 $215.22 1.40% 1.80% $33 111 371 704 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 91.2% 9 $0.510780 2.12% 0.16% $27 230 864 156 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $1.000194 0.01% 0.02% $25 592 409 818 USDC 7 days price change
7 Lido stETH (STETH) STETH Lido stETH predictions 95.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 83.6% 24 $0.088849 4.32% 6.87% $9 033 845 103 WTRX 7 days price change
9 Cardano (ADA) ADA Cardano predictions 90.4% 6 $0.249876 2.09% 1.62% $8 777 753 884 ADA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 92.8% 5 $0.061502 1.34% -0.11% $8 683 991 485 DOGE 7 days price change
11 Solana (SOL) SOL Solana predictions 88% 20 $20.16 4.48% 2.94% $8 321 534 374 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 83.6% 22 $0.087499 2.25% 5.19% $7 794 692 941 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 60.4% 84 $2.20 2.66% -5.57% $7 546 155 725 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 91.2% 1 $1.000251 -0.01% 0.04% $5 349 229 114 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 89.6% 7 $4.07 1.81% 1.13% $5 003 930 047 DOT 7 days price change

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