Your reliable guide in the crypto world, providing comprehensive news and analysis on all things related to cryptocurrency.

Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

– Hopes of approval for a spot Bitcoin (BTC) exchange-traded fund by the United States Securities and Exchange Commission boosted Bitcoin’s price by 27% in October.
– Bloomberg senior ETF analyst Eric Balchunas highlighted that ProShares Bitcoin Strategy ETF (BITO) saw its second biggest trading week ever at $1.7 billion.
– Altcoins have risen sharply from their multi-year lows, with some expected to lead the market higher.
– Bitcoin pulled back from $35,280 on Oct. 24, but solid buying at lower levels prevented a deeper pullback.
– The important level to watch on the downside is $32,400, while a break above $35,280 would indicate bullish control.
– Ether (ETH) climbed above the $1,746 resistance but faced selling pressure at higher levels. The bulls defended the retest to $1,746 and may strive to push the price above $1,865.
– Aptos (APT) rallied sharply, with every minor dip being purchased. The bulls will try to overcome the obstacle at $7, and a break above it may start the march toward $8.
– Quant (QNT) rose above the breakdown level of $95 and cleared the downtrend line, potentially signaling a trend change. The short-term bulls may book profits, which could pull the price down to the downtrend line.
– THORChain (RUNE) broke and closed above the overhead resistance of $2, completing a bullish inverse head and shoulders pattern. The short-term outlook suggests a minor correction or consolidation, but a failure to give up much ground may improve prospects for a rally.
– This article does not contain investment advice or recommendations.

Share this article
Shareable URL
Prev Post

Bitcoin-friendly El Salvador can become ‘Singapore of the Americas’: VanEck advisor

Next Post

Crypto thief steals $4.4M in a day as toll rises from LastPass breach

Leave a Reply

Your email address will not be published. Required fields are marked *

Read next