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ETH price finally polevaulted the $2,000 resistance, but will retail demand and network use support the current bullish momentum? Ether (ETH) experienced a surprising 8% rally on Nov. 9, breaking the $2,000 barrier and achieving its highest price level in six months. This surge, triggered by news of BlackRock registering the iShares Ethereum Trust in Delaware, resulted in $48 million worth of liquidations in ETH short futures. The initial announcement was made by @SummersThings on a social network, later confirmed by Bloomberg ETF analysts. The iShares Ethereum Trust has just been registered in Delaware. For context, BlackRock's iShares Bitcoin Trust was registered in a similar manner 7 days before they filed the ETF application with the SEC. Details below. [announcement: I’m moving to @SynopticCom soon] pic.twitter.com/IYafIaxMzA — Summers (@SummersThings) November 9, 2023 The news fueled optimistic expectations regarding a potential Ether spot ETF filing by BlackRock, a $9 t...

Bitcoin’s reluctance to give up ground has attracted strong buying in select altcoins. Bitcoin (BTC) price climbed by 15% last week and 10.45% the week before. The S&P 500 Index dropped 2.53% last week and 2.39% the week before. This shows that Bitcoin has decoupled from the S&P 500 Index in the short term and may chart its own course. However, the path higher may not be easy. The Federal Open Market Committee’s meeting on Nov. 1 may cause some volatility, but it will li be short-lived as no surprises are expected. CME’s FedWatch Tool projects a 98% probability that rates will remain unchanged. Daily cryptocurrency market performance. Source: Coin360 A large part of the gains in Bitcoin have been fuelled by expectations that the United States Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund in the near future. Any adverse news in this regard may prove to be a major setback for the bulls. When traders start chasing prices higher, it increases ...

$24,500 keeps control on hourly timeframes as gains for both Bitcoin and Ethereum are quickly extinguished. Bitcoin (BTC) returned to range resistance on Aug. 17 amid ongoing concerns that a retracement is imminen. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No success for Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $24,448 on Bitstamp, up 3.25% from the previous day's low before diving $600 in under an hour. Momentum gained speed on the day, but bulls faced familiar resistance at levels keeping them broadly in check since mid-June. The past week's trips to $25,000 and beyond remained brief breakouts beyond a two-month price ceiling. Analyzing the scenario, veteran trader Peter Brandt eyed a rising wedge setup in progress for Bitcoin with $20,700 as its starting point. On-chain monitoring resource Material Indicators was less convinced about the staying power of the current rally. Uploading a snapshot of the Binance...

Bitcoin's failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins. After failing to sustain above the resistance of its narrow range, Bitcoin (BTC) fell near a key support on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November to December and again from March to April. According to CoinShares data, institutional investors continue to plow funds into digital asset investment products, which rose to $742 million in the past four weeks. Bitcoin continues to attract the lion’s share of the funds, with last week alone accounting for $140 million in inflows. Daily cryptocurrency market performance. Source: Coin360 Morgan Creek Capital chief investment officer and founder Mark Yusko said in an interview with Cointelegraph that Bitcoin’s fair value is $55,...

Bitcoin sees a sudden return to form as a reshuffle of order book liquidity precedes a spurt above crucial BTC price resistance. Bitcoin (BTC) returned above $30,000 on April 18 as volatility preceded the day’s Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin erases intraday losses Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair suddenly added $500, delivering daily gains of more than 3%. The pair had previously worried traders, who watched as $30,000 support looked set to remain as longer-term resistance. The fact that #BTC went for another retest of the Higher High in a short space of time was a cause for concern Ultimately, $BTC Daily Closed below Higher High & now may be turning it back into resistance Needs to Daily Close above the HH to regain bullishness#Crypto #Bitcoin https://t.co/zMNvuNjxRH pic.twitter.com/HbsJJ0xszL — Rekt Capital (@rektcapital) April 18, 2023 Before crossing the $30,000 mark,...

ETH derivatives data shows bullish traders becoming more comfortable with the $1,700 price level, creating an opportunity for further rallies. The price of Ether (ETH) rallied 18% between Feb. 13 and Feb. 16 but has since been range trading near the $1,700 level . Despite the recent price improvement, Ether Derivatives metrics remain neutral-to-bullish ponder the investors the tighter regulatory environment and the potential impact of Ethereum’s  Shanghai upgrade. Investors' biggest concern right now is regulation, especially after the United Kingdom’s Financial Stability Board (FSB) recently stated that most stablecoins fail to meet international standards. The entity was created by the G20 and is affiliated with the Bank of International Settlements (BIS). FSB chair Klaas Knot stated that the appropriate regulation of crypto-assets should be "based on the principle of same activity, same risk, same regulation." In more positive news, there has been some improvement i...