Bitcoin appears exhausted, having failed to chart a convincing breakout beyond April highs for almost four weeks.
Short-term indicators suggested limited downside at the onset of Asia trading hours; ether's price also dropped significantly.
Investment firm VanEck’s bitcoin futures exchange-traded fund (ETF) started trading on the Chicago-based CBOE exchange Tuesday.
Market appeared quite complacent due for a pullback, observers said.
The cryptocurrency could break the six-figure mark in Q4, one firm said.
An elevated inflationary environment is completely new territory for bitcoin and its reaction function, one analyst said.
The most significant improvement to the Bitcoin network in four years generated weekend enthusiasm in the blockchain community (and a short video) – but nothing too exciting in terms of a price reaction.
Chicago-based CBOE exchange says in website posting that the VanEck Bitcoin Strategy ETF will start trading Tuesday under the ticker symbol “XBTF.”
There are just seven weeks left in the year, and it seems there’s no consensus on who will win out: the HODLers (steadfast accumulators) or the profit-takers.
Bitcoin (BTC) analysts are counting down to the network's Taproot upgrade over the next few days. Some observers expect BTC price to rise, although others anticipate muted reaction from the market. Ether (ETH) is expected to pull back given divergences on charts.
The native token of Layer-2 scaling protocol for Ethereum offering faster and cheaper transactions, crashed on Friday as exchange inflows spiked.
Active user participation on Ethereum's network has decoupled from ether's rising price