Bitcoin stalls below $70K despite $20B ETF inflow milestone.

The Bitcoin price remains unable to cross the $70,000 mark, despite last week’s record milestone for spot Bitcoin exchange-traded funds (ETFs).
On Oct. 17, the US-based spot Bitcoin (BTC) ETFs crossed $20 billion in total net flows, just 10 months after their debut. This same milestone took gold ETFs nearly five years to achieve.
BTC rose to a nearly three-month high of $69,487 on Oct. 21 before pulling back to trade at $68,570 as of 8:25 am UTC, according to Cointelegraph data.
The sluggish price action may be due to the delayed effect of ETF inflows, which can take a few days to impact the spot BTC price, according to Bitfinex analysts.
The ask-heavy order book suggests that crypto traders are using ETF flows as exit liquidity for their trades, the analysts told Cointelegraph:
“Usually, this means that large ETF inflows have a muted impact for a few days and then the market reverses lower once the aggression from spot market buyers fades. We need sustained spot market interest to push price out of the current range bound price action.”
Positive ETF inflows could help the Bitcoin price reach a new all-time high. By Feb. 15, just one month after they launched, United States-based spot BTC ETFs accounted for about 75% of new investment in the cryptocurrency, which had surpassed the $50,000 mark at the time.
BlackRock ETF tops inflows with $1.17 billion
Bitcoin ETFs have had limited immediate impact on the price, with several days often passing before inflows generate bullish momentum, Bitfinex analysts explained:
“Despite the significant inflows into Bitcoin ETFs, particularly into the BlackRock and Fidelity funds, the price impact has been muted on several instances on days when net inflows exceeded $500 million worth of BTC.” 
During the past week, BlackRock’s iShares Bitcoin Trust ETF brought in over $1.17 billion worth of Bitcoin, noted onchain intelligence firm Lookonchain in an Oct. 21 X post.

Analyst Backs Spot Bitcoin ETFs To Surpass Gold ETFs In Cumulative Net Inflows.

Market analyst and President of the ETF Store Nate Geraci has backed the US-based spot Bitcoin ETFs to overtake the Gold ETFs in terms of cumulative net flows. This projection comes amidst a staggering performance by these Bitcoin ETFs in the past few days where they have attracted over $2 billion in weekly netflows.
Spot Bitcoin ETFs To Surpass Gold ETF In 2 Years, Analyst Says
The spot Bitcoin ETFs rattled the global financial markets this week recording net inflows of $2.13 billion according to data from SoSoValue. This massive influx of investments occurred as Bitcoin surged by 9.23%, approaching a critical resistance zone at the $70,000 price mark. 
Amidst this market euphoria, Nate Geraci has predicted the spot Bitcoin ETFs to record a higher cumulative total netflows than the Gold ETFs in the next two years. This forecast is largely unsurprising considering the exponential growth of these Bitcoin ETFs since their launch on January 11. 
For context, the Gold ETFs currently boast of combined net inflows of around $55 billion in comparison to $20.66 billion aggregate net inflows in the spot Bitcoin ETFs market. However, the Bitcoin ETFs have been trading for barely a year compared to the Gold ETFs which have been around for over 20 years.
Furthermore, Bloomberg analyst Eric Balchunas recently highlighted that spot Bitcoin ETFs have amassed over $65 billion in total net assets, a milestone that took Gold ETFs nearly five years to achieve. This figure is also over 25% of the total assets under management in the global Gold ETF market.
In addition, Geraci’s theory is further strengthened by the few 11 spot Bitcoin ETFs currently trading compared to the almost 5000 Gold ETFs on the global financial market. Therefore, these Bitcoin ETFs may actually be poised to overtake their Gold counterparts, especially considering the upcoming crypto market bull run and current adoption levels of digital assets.

Bitcoin Touched $69K, Dogecoin’s Weekly Surge Goes Beyond 30% (Weekend Watch).

Bitcoin’s impressive performance as of late continued in the past 24 hours as the asset tapped $69,000 for the first time since July 29 before retracing slightly.
Most alts are with minor gains over the past day, aside from DOGE, which has only doubled down on its recent massive run.BTC Stopped at $69K
The primary cryptocurrency stood around $62,000 and $63,000 last Saturday after it had recovered several grand from the sub-$59,000 dump on Thursday. Last weekend went relatively quietly, but the asset went on the offensive at the start of the business week.
The most substantial chunk of volatility came on Tuesday when BTC spiked from $65,500 to $68,000 before it was violently pushed south to just under $65,000. However, thebulls resumed controlin the following hours, and bitcoin climbed gradually to new local peaks as greed among investorsrises.
The latest of the bunch came late last night when the cryptocurrency jumped to $69,000 for the first time in almost three months. It failed to overcome that level but still stands above $68,000 after a minor retracement.
Its market capitalization stands tall at $1.350 trillion on CG, while itsdominance over the altsis at a multi-year peak of over 55%.DOGE Keeps Pumping
The biggest gainer from the larger-cap alts yesterday was the OG meme coin. The scenario has repeated again today, with another 6.5% surge from DOGE. As a result, the asset now stands at a multi-month peak of its own at $0.144, with speculations on whether it could jump to $1 during the market cycle.
The rest of the larger-cap alts are a lot less volatile. ETH, BNB, XRO, TRX, and LINK sit with minor losses, while SOL, TON, ADA, AVAX, and SHIB have posted insignificant gains.
WLD has emerged as the top performer from the largest 100 cryptocurrencies, having surged by 13%.
Overall, the total crypto market cap has added around $15 billion and is above $2.450 trillion on CG now.

#BTC to Reach $100,000 by December End!!
I stand by this and guarantee you!!

MicroStrategy stock’s big premium to bitcoin holdings defended by analyst as ‘intelligent leverage’.

The growing premium at which business intelligence firm and corporate bitcoin holder MicroStrategy (ticker: MSTR) shares trade relative to their net asset value (NAV) is not something to fear, according to Benchmark.
Currently at 2.3x, the premium hit a three-year high of 2.7x earlier this month, sparking debates among observers who argued that the stock should align more closely with the company's bitcoin holdings. While such analysts agreed that MicroStrategy's share price benefits from bitcoin price appreciation, they saw the significant premium as unjustified.
However, Benchmark analyst Mark Palmer countered that view, highlighting the company’s strategy of using low-cost debt and equity dilution to increase its bitcoin holdings per share. This "flywheel" effect, the analyst said, makes MicroStrategy's valuation more than just a reflection of its NAV. The company’s ability to generate compounding yield on its bitcoin holdings — what management calls "intelligent leverage" — sets it apart from other bitcoin investments like ETFs, justifying the stock's premium.
As of Sept. 19, MicroStrategy holds 252,220 bitcoin worth roughly $15.8 billion. The company has continued to acquire bitcoin periodically over the last few years.
Palmer emphasized MicroStrategy's strong performance, citing its newly created BTC Yield metric, which measures the growth of its bitcoin holdings relative to its share count. The company has achieved a 17.8% yield year-to-date, far exceeding previous years. The analyst also pointed to MSTR's dramatic stock price outperformance since it adopted its bitcoin strategy, reinforcing confidence in the company's approach and raising its price target to $245.
Palmer noted the company’s share price has risen by 1,600% over the past four years, which exceeded the return of bitcoin by a factor of 3.8x as well the returns of the S&P 500 and the Nasdaq by 22x and 24x, respectively.

Bitcoin Breaking Out Of 7-Month Accumulation Channel: Expert Predicts Further Upside.
Bitcoin is at a pivotal moment after surging past the $68,000 mark and setting a new local high, confirming its bullish uptrend. 
Analysts and investors closely monitor the next steps, searching for signs of a continued rally or a potential retrace from higher supply levels. While the excitement is palpable, there is caution as traders prepare for possible resistance.
Top analyst Daan shared a technical analysis highlighting that Bitcoin has broken out of an accumulation channel, suppressing the price. According to Daan, this breakout above the $68,000 resistance level signals a potential for further upside as Bitcoin moves into uncharted territory. 
The next few days will determine whether BTC can maintain its momentum or will face a healthy pullback from these higher levels. With euphoria clashing with fear of a correction, investors are keen to see whether Bitcoin can continue its upward trajectory or if the market will see a pause in the rally.
Bitcoin Break Out: New ATH Next?
The crypto market is optimistic, as Bitcoin and most altcoins have surged from yearly lows to yearly highs in just a few weeks. 
Analysts are now speculating that this could be the start of something big—a rally that could propel prices to new highs and deliver massive gains to investors. Despite the excitement, there is also a lingering fear of an impending correction. 
Historically, Bitcoin has struggled to maintain momentum above supply near $70,000, often facing strong rejections that lead to sharp declines.
However, top crypto analyst and investor Daan recently shared a technical analysis on X, explaining why this recent breakout might differ. According to Daan, Bitcoin has finally broken out of a 7-month accumulation pattern that had kept prices down, signaling a significant shift in market dynamics. Furthermore, BTC has managed to break well above the Daily 200 moving average (MA) and exponential moving average (EMA).

Here’s what happened in crypto today.
Today in crypto, the behavior of top Polymarket bettors has raised concerns about potential manipulation of the decentralized prediction market’s accuracy ahead of the United States presidential election on Nov. 5, the US has a 26 million strong “crypto voting bloc” going in the election, according to a survey, and the FBI claimed it arrested the man who hacked the SEC’s X account in January.
Polymarket whale raises Trump odds, sparking manipulation concerns
Former President Donald Trump’s rising odds in the 2024 United States presidential election have allegedly been significantly influenced by Polymarket user “Fredi9999,” a major bettor who holds more than $20 million worth of pro-Trump bets.

The revelation comes days after Cointelegraph reported that Trump’s Polymarket odds of winning the presidential elections rose to a record high of 60.2% on Oct. 16.
Trump’s growing lead has raised questions, as it appears to be unrelated to real-world events that could explain such a shift in public perception, according to Alex Momot, founder and CEO of Peanut Trade.
Momot told Cointelegraph:
“What’s paradoxical is that the situation on Polymarket is now influencing the real world, where many people believe what they see on the platform. The upcoming US presidential election will serve as a key example for assessing the reliability of prediction markets.”
As the election nears, the importance of evaluating potential manipulation in prediction markets is increasing, especially with less than three weeks remaining before Election Day.
“Crypto voting bloc” 26 million strong ahead of US elections: Survey
Around 26 million United States voters are part of a “crypto voting bloc” — with a pro crypto policy their top requirement when deciding who to vote for in the election, per a survey released on Oct. 17 by crypto advocacy group The Digital Chamber.

Bitcoin Price To $95,000? Here’s What Needs To Happen First.
The Bitcoin price has now broken above the $68,000 mark amid a run of a 12% price increase in the past seven days. However, analysis says the Bitcoin price will not stop this surge anytime soon. According to a detailed analysis posted on TradingView, a well-known crypto analyst has shared insights suggesting that Bitcoin is on track to climb even higher to reach an ambitious target of $95,000, but USDT.D needs to break below the lower boundary of a triangle first.
Interesting Take On Bitcoin Price Outlook
The analyst in question, known as TheSignalyst, takes an unconventional approach to analyzing Bitcoin’s price movement by relying on a lesser-known but intriguing metric. 
According to TheSignalyst, the USDT.D chart, which tracks the dominance of the stablecoin Tether (USDT) in the cryptocurrency market, efficiently tracks the overall sentiment of the crypto market. Though not widely used by mainstream analysts, this metric has proven useful in predicting market tops, bottoms, and future price action.
According to the USDT.D chart, the USDT dominance has been playing out a descending triangle pattern since the first days of August. Since this period, the USDT dominance has ranged between 6.5% and 5.34% of the total crypto market cap up until the time of writing. As the analyst noted, as long as USDT dominance remains within the descending triangle, Bitcoin’s price is likely to continue consolidating in a range.
However, TheSignalyst adds that for Bitcoin to truly enter a bullish run, the USDT dominance needs to break downward. Specifically, it would have to fall below the lower boundary of the descending triangle and drop beneath 5.2% of the total crypto market cap. 
What Does This Mean For The BTC Price?
As the largest stablecoin, the USDT dominance can reveal a lot about the prevailing sentiment among crypto traders.

Will Crypto Markets Continue to Surge Amid $1.26B Bitcoin Options Expiring.
Around 18,500 Bitcoin options contracts are expiring on Friday, Oct. 18, with a notional value of around $1.26 billion.
Today’s options expiry is very similar tolast week’s, with declining volatility resulting in smaller expiry events. For this reason, the impact on spot markets is likely to be minimal.
However, there is a large $4 billion Bitcoin options expiry event on the last Friday of this month.Bitcoin Options Expiry
This week’s tranche of Bitcoin options contracts has a put/call ratio of 0.86. This means that there are slightly more long (call) contracts expiring than shorts (puts).
Additionally, open interest (OI), or the value or number of open options contracts yet to expire, is still high at the strike price of $70,000, with over a billion dollars at that price, according to Deribit. OI is also over $1 billion at the $100,000 strike price, suggesting the derivatives bulls are getting confident again.
Analyst James Check observed that there was a new high in Bitcoin futures OI. He added that this means two things, high leverage means a higher likelihood of volatile shake-outs, but the bigger Bitcoin gets, the bigger this metric will be simply as a matter of scale.
New ATH in #Bitcoin futures open interest.
Two things: 1) High leverage means higher likelihood of volatile shake-outs. 2) The bigger Bitcoin gets, the bigger this metric will be simply as a matter of scale.
If you’re long spot, be patient, & don’t FOMO Pullbacks will happen pic.twitter.com/7MoS6edDRV
— _Checkmate (@_Checkmatey_) October 17, 2024
In addition to today’s Bitcoin options, there are 137,000 Ethereum options that are about to expire with a put/call ratio of 0.62 and a notional value of $367 million. This brings Friday’s crypto options expiry to just over $1.6 billion for the week.Crypto Market Outlook
Total market capitalization has declined slightly today to $2.42 trillion despite Bitcoin hitting a ten-week high.

Massive Bitcoin Move Imminent: 7 Key Reasons Behind The Bullish Outlook.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, is showing signs of a potential breakout, according to analyst Miles Deutscher.
Historically, October has been a strong month for BTC, and recent trends suggest that the cryptocurrency may be on the verge of a substantial upward movement. Over the past week alone, the Bitcoin price has surged more than 13%, approaching its all-time high of $73,700 set in March of this year.
Increased Global Liquidity And Low Supply
Deutscher notes that Bitcoin has been consolidating above critical support levels for much of the year, positioning it for potential expansion. Despite numerous failed breakouts in the past, which have led to a general distrust among traders, the analyst believes that this environment may create an opportunity for a significant price increase. 
Many retail investors remain sidelined, as indicated by Bitcoin’s current ranking on Coinbase and declining Google search interest in the cryptocurrency. This may suggests that the market force known as fear of missing out (FOMO), has yet to set in among investors. 
The macroeconomic backdrop also supports Bitcoin’s potential for further gains. Increased global liquidity—now at its highest level in three years—has historically influenced Bitcoin’s price positively. 
Deutscher also emphasizes that as equity markets begin to recover, Bitcoin tends to follow suit, often correlating closely with the S&P 500. Additionally, Bitcoin’s supply on exchanges has reached an all-time low, suggesting that a supply squeeze may be imminent. 
The analyst contends that this trend indicates that fewer BTC are available for trading, which could drive prices higher as demand increases.
October To April As ‘Boom Period’ For Bitcoin 
Deutscher also emphasized in his analysis the upcoming US presidential election, which he believes adds another layer of complexity to the market.

Bitcoin Holders In Profit Hits 95%: Is BTC Overheating?
On-chain data shows around 95% of all Bitcoin holders are in profit following the latest bullish action that the asset’s price has seen.
Very Few Bitcoin Addresses Are Still Underwater
In a new post on X, the market intelligence platform IntoTheBlock has shared an update on how the Bitcoin holder’s profitability is currently looking. The analytics firm has made use of on-chain data to determine this.
IntoTheBlock has gone through the transaction history of each address on the network to check the average price at which it acquired its coins. Wallets with a cost basis below the current price are assumed to carry some net unrealized profit.
Similarly, addresses of the opposite type are considered to be loss holders. The analytics firm terms the former investors “in the money,” while the latter are “out of the money.”
Naturally, the wallets with their average acquisition price equal to the latest spot price of the cryptocurrency would be just breaking even on their investment. They would be said to be “at the money.”
Now, here is how the address distribution on the Bitcoin network is like right now across these three categories:
As is visible above, around 95% of the existing Bitcoin holders currently have a net profit. About 3% of the remaining are at their break-even level, while the rest 2% are underwater.
Thus, the market distribution is currently overwhelmingly skewed towards profit holders. The reason behind this is the recent price rally the asset has gone through.
“With 95% of Bitcoin addresses now in profit, market sentiment is booming,” notes IntoTheBlock. “Historically, such levels have signaled strong bullish momentum but can also indicate a potential overextension.”
Generally, investors in profit are more likely to sell their coins at any point, so a large amount of them being in the green can raise the chances of a mass selloff occurring with the motive of profit-taking. This is why a high profitability ratio can suggest potential overheated conditions.

Here’s what happened in crypto today.
Today in crypto, spot Bitcoin exchange-traded funds (ETFs) in the United States have reached a major milestone in net flows Vitalik Buterin is aiming for Ethereum and its layer 2s to reach over 100,000 transactions a second in the next step of its roadmap, and Bitcoin is attempting to break its 217-day downtrend.
Ethereum and L2s to reach over 100K TPS with ‘The Surge’ — Buterin
Ethereum co-founder Vitalik Buterin has outlined key goals for the Ethereum blockchain in the next step of its roadmap, dubbed “The Surge,” including achieving over 100,000 transactions per second (TPS) across Ethereum’s mainnet and layer 2 blockchains as well as increasing interoperability between the layer 2’s. 
“Ethereum should feel like one ecosystem, not 34 different blockchains,” Buterin wrote in a lengthy and technical Oct. 17 blog post.
He also noted the need to scale the Ethereum base chain so it can keep up with the demand from layer 2 blockchains and proposed making specific features and types of computations cheaper.

In one section of his post, Buterin highlighted the need to improve user experience between Ethereum’s layer 2 networks, stressing the need “to make using the L2 ecosystem feel like using a unified Ethereum ecosystem.”
“Our task is to bring the rollup-centric roadmap to completion, and solve these problems, while preserving the robustness and decentralization that makes the Ethereum L1 special,” Buterin wrote. 
Bitcoin eyes $68K, but uptrend may not be smooth, analyst says
Bitcoin’s BTCUSD price briefly traded above $68,000 on Oct. 16, as the world’s largest digital asset attempted to break a 217-day downtrend.
The BTC price reached an intraday peak near $68,300, putting it within 7% of its all-time high of $73,679, according to Cointelegraph and TradingView data. 

According to Hyblock Capital CEO Shubh Varma, Bitcoin’s ascent is expected to be bumpy before all-time highs are reclaimed.

WLFI Token Launch, Backed By Trump, Falls Flat On $300 Million Fundraising Target.
The anticipated launch of the Donald Trump World Liberty Financial (WLFI) token has globally faced challenges in raising the expected $300 million. Thus, the fundraising activities have been described as a total failure within two days after it was launched on 15 October since WLFI has raised only around $11 million accounting for only 4% of the target. Actually, with so much effort placed to advertise the project, which was even described as a ‘crypto bank,’ things have turned out different.
Technical Issues Affect Trump Token Sales
It was assumed that the WLFI token would generate a huge interest especially with Trump at the helm. Co-founder Zachary Folkman said that there were more than 100,000 people ready to put their money in. The other side of the coin however is quite different. The project’s website could not be accessed for long periods, exasperating potential purchasers who tried unsuccessfully to participate in the sale.

In actual sense though, the token is really held by less than 9,300 unique wallets, a far cry from the expected investor uptake. The teething problems associated with the project not only curtailed the sales during the launch but also created viable concerns regarding the future of the project.
Determining Investor Attitude And Regulatory Issues
The WLFI token is described as a D regulation offering whereby it is offered to only a specific group of people known as accredited investors or individuals who either have a net worth of over $1 million or gross income of up to $200,000 annually.

This limitation on investor inclusion effectively reduces the available clientele base. In addition, unlike many of the cryptocurrencies that allow for immediate trading of their tokens, WLFI tokens are non-transferable and are mainly governance tokens. Investors can vote on proposals in the platform but are relatively passive at the moment.

This Declining Major Bitcoin Metric Hints at Upcoming BTC Bull.
KEY POINTS:
Bitcoin soared to around $67,400, with some metrics suggesting potential for further gains.However, some bearish signals, such as an overvalued MVRV ratio and overbought RSI, indicate a possible price pullback.
BTC Price Explosion Incoming?
The price of the leading cryptocurrency surged by over eight grand in the past week, currently trading at around $67,400 (per CoinGecko’s data). The rally fueled huge enthusiasm among BTC proponents, many of whom assumed that “Uptober” was finally here.
Some important indicators signal that the asset has yet to witness substantial gains. One example is the BTC supply stored on exchanges, which, according to X user Ali Martinez, has tumbled to a five-year low.
Such a development is generally considered bullish since it suggests that holders might be shifting from centralized platforms to self-custody methods (which reduces the immediate selling pressure). Moreover, fundamental economic principles dictate that BTC’s price should head north if demand remains constant or increases while the available supply drops.
A metric hinting that BTC could be ahead of a more volatile period is the growing Open Interest. As CryptoPotatoreportedon October 15, the figure reached an all-time high of $19.8 billion. It kept rising in the following hours, surpassing $20 billion on October 16 (per CryptoQuant’s data).
The rise of OI is combined with BTC funding rates that have hit their highest positive levels in the past two months. This indicates that most of the open interest is comprised of long positions, which, combined with the growing demand reported by CryptoQuant’s CEO, reaffirms the narrative about a potential rally.Some Bearish Factors
Contrary to the aforementioned indicators suggesting that the primary cryptocurrency could experience another bullish momentum soon, some hint at the opposite scenario.

Asian Private Wealth Managers Embrace Crypto, Some Foresee Bitcoin at $100K By Year-End.
A growing number of Asia-based private wealth managers are entering the crypto market, with some forecasting bitcoin {{BTC}} will hit $100,000 by year's end, according to a report by digital asset technology platform Aspen Digital.
Digital assets have emerged as an alternative investment class for private wealth in Asia, with 76% of family offices and high-net-worth individuals investing in cryptocurrencies and 16% planning to do so in the future.
That's a notable improvement from the previous study in 2022, when 58% had exposure to digital assets and 34% planned to invest.
Most respondents cited higher returns as a primary driver, with an increasing number of respondents citing diversification and inflation hedge appeal as key motivations to invest in digital assets, the report shared with CoinDesk said.
The latest findings are based on a survey of more than 80 family offices and high-net-worth individuals conducted in the second half of this year. Most respondents had assets under management (AUM) between $10 million and $500 million, with 20% boasting an AUM of $500 or more. The report includes contributions from contributions from SBI Digital Markets and Family Office Association of Hong Kong.
Decentralized finance (DeFi) remained a significant area of interest, with 67% of respondents interested in DeFi development, followed by 61% in artificial intelligence and decentralized physical infrastructure network (DePin), 50% in blockchain infrastructure 47% in real-world assets (RWA) tokenization.
"We believe every asset class will eventually transition onto the blockchain, capitalizing on the competitive advantages that blockchain technologies offer, representing immense growth potential for DeFi. Currently, approximately 85 million users are engaging with financial services on-chain and we anticipate this number will surpass 200 million by the end of 2025," Re7 Capital said.

Bitcoin (BTC) Breakout Confirmed: 3 Price Levels to Watch Next.
Finally confirming a significant breakout above $67,000, Bitcoin BTCUSD may be about to experience a change in momentum. BTC looks to be gaining significant strength, and traders are beginning to focus on the next important price levels as On-Balance Volume (OBV) confirms the breakout across Binance and other major exchanges. 
The psychological barrier of $70,000 is the first level you should watch. In the past, sellers have tended to intervene in this area as a point of resistance. Considering the momentum thus far, breaking through this level may set off a rapid upward move that could result in a new all-time high. As they get closer to this level, traders should pay particular attention to volume, as it has the potential to either halt the rally or confirm a more bullish continuation. BTCUSDT Chart by TradingView
Currently, $63,000 serves as a solid support level for Bitcoin on the downside. This is an important sector that might offer protection should there be a reversal following the most recent surge. It would still be deemed healthy for Bitcoin to retrace toward $63,000 in order to give it time to cool down before launching another upward move. 
Bitcoin's ability to maintain this support level would suggest that consumers are still very much in charge. If we go beyond $70,000, we will probably find that the next target for Bitcoin is roughly $75,000. At this point, sellers might try to take profits as midterm resistance. But if buying pressure picks up and the price breaks above $70,000 with significant momentum, $75,000 would be a realistic short-term target. 
Bitcoin appears to have regained its footing after months of consolidation, with OBV confirming the breakout across all major exchanges. Whether Bitcoin can sustain this momentum will be determined over the course of the next few days. Investors should monitor the asset near these levels to determine the likelihood of additional upside.

Bitcoin Price Holds Firm: Can It Power Toward New Gains?
Bitcoin price climbed further higher above the $67,500 resistance zone. BTC is now consolidating and might clear the $68,350 resistance to continue higher.
Bitcoin remained stable and extended gains above the $68,000 zone.The price is trading above $67,200 and the 100 hourly Simple moving average.There is a connecting bullish trend line forming with support at $66,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could rally further if there is a close above the $68,000 resistance zone.
Bitcoin Price Remains Supported for More Upsides
Bitcoin price remained supported and extended its increase above the $67,500 resistance. BTC cleared the $67,800 resistance to move into a positive zone. The price even rallied above the $68,000 and $68,200 resistance levels.
The price traded as high as $68,328 and currently consolidating gains. There was a minor decline below the $68,000 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $64,686 swing low to the $68,328 high.
Bitcoin price is now trading above $67,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $66,800 on the hourly chart of the BTC/USD pair.
On the upside, the price could face resistance near the $68,000 level. The first key resistance is near the $68,350 level. A clear move above the $68,350 resistance might send the price higher. The next key resistance could be $68,800.
A close above the $68,800 resistance might initiate more gains. In the stated case, the price could rise and test the $70,0200 resistance level. Any more gains might send the price toward the $72,000 resistance level.
Another Drop In BTC?
If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support on the downside is near the $66,800 level and the trend line.

On-Chain Metrics Reveal Bitcoin Demand Is Growing – Can BTC Break ATHs In Q4?

Bitcoin surged over 5% yesterday, following a positive day across the crypto market. This sudden price boost has sparked optimism among investors and analysts, anticipating even bigger gains in the coming months. Market sentiment is improving alongside price action, fueling hopes for a sustained rally.
Key data from CryptoQuant suggests that Bitcoin demand is rising, supporting the idea that Bitcoin could continue to climb. This growing demand and the improving market sentiment create a favorable environment for bullish momentum.
Continuing the recent price surge could set the stage for Bitcoin to reach new highs, while any hesitation might lead to further consolidation. Either way, market participants are eagerly awaiting the next major move.
Bitcoin Open Interest Reaching New Highs
After surging to test local highs, Bitcoin is at a critical turning point, setting the stage for a potential rally that has analysts and investors optimistic. 
The price has surged over 12% in less than a week, reflecting renewed bullish sentiment in the market. This upward momentum has sparked hopes of continued gains, with many speculating that Bitcoin is on the verge of a significant breakout.
Top crypto analyst and investor Ali Martinez recently shared a compelling CryptoQuant chart, revealing that Bitcoin’s open interest across all exchanges has just hit a new all-time high of $19.75 billion. 
This spike in open interest often precedes large price moves, signaling heightened activity and more capital at stake in the market. A surge in open interest suggests that traders are positioning themselves for significant price action, potentially adding more fuel to the current rally.
The data from CryptoQuant supports the growing bullish outlook for Bitcoin, as it suggests that investors and traders are increasingly confident in the asset’s near-term performance. 

Bitcoin’s Road To $70,000? Analysts Set Next Targets As BTC Retests Key Levels.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, started the third week of October with a 6% daily surge. BTC’s performance has fueled bullish sentiment among crypto investors and market watchers, who suggest it might be ready to move to $70,000.
Bitcoin Reclaims Key Support Levels
Bitcoin began the week reclaiming key resistance levels after a 6% surge from Sunday’s price. This performance saw BTC move from the $62,000 support zone to retest the $66,000 support area on Monday morning.
Following the recent performance, Bitcoin’s October returns so far have turned green with a 3.17% monthly return, according to Coinglass data. Crypto analyst Rekt Capital highlighted Bitcoin’s recent movements, noting that BTC has been able to reclaim a 2-month downtrend as support.
Per the analyst, the flagship cryptocurrency has retested a downtrend line dating back to late July since October started. BTC successfully retested and bounced from the trendline for two consecutive weeks, turning the range into support.
Additionally, the analyst pointed out that Bitcoin has performed several successful retests, including a “volatile retest” of the 21-week Bull Market Exponential Moving Average (EMA).
Bitcoin
“Notice how the bottom of the green boxed area is confluent with the July Downtrend retest and the retest of the 21-week EMA is confluent with the top of the green box,” the analyst added.
Similarly, Ali Martinez highlighted that BTC is currently making another attempt to reclaim the 200-day Moving Average after four consecutive rejections in the past two months.
BTC Challenges August Highs
Rekt Capital noted that BTC has solidified the $58,000-$61,000 range as a support area throughout the year: “It has done so at a Higher Low compared to last month’s downside wicking lows as well as August’s downside wicking lows.”

Bitcoin ETF Daily Inflow Hits $556M as BTC Appears Primed for Breakout.
Bitcoin {{BTC}} exchange-traded funds (ETFs) posted inflows of $555.86 million on Monday, according to data provider SoSoValue, amid signs of a possible bitcoin rally.
This is a multi-month record for ETF inflows, as the last time the asset class posted higher inflows was on June 4, when it hit $886.75 million.
BTC is up 2.2% in the last 24 hours, according to CoinDesk Indices data, matching the CoinDesk 20, an index tracking the performance of the largest digital assets.
As CoinDesk reported earlier, one technical indicator called the "three-line break chart" shows Bitcoin could be on track to break past $73,000, signaling a return to an upward trend after months of back-and-forth price movement.
Prediction market traders have become more optimistic about BTC's price potential in the last week. On Polymarket, the 'yes' side of a contract that asks if BTC will hit a new all-time high in 2024 is trading at 64% up 9 percentage points in the last week.
On Kalshi, bettors are giving a 46% chance that bitcoin's price hits $75,000 this year, up 7 percentage points. Bitcoin hit an all-time high of over $71,000