Bitcoin Briefly Breaks Above $7,500 After SEC Approves BTC Fund

Friday, Dec. 6 — crypto markets have continued to rebound after a sharp sell-off on Dec. 4, with Bitcoin (BTC) briefly reclaiming $7,500. The bullish momentum is observed across all the top 20 cryptocurrencies by market capitalization, with just Bitcoin Cash (BCH), Litecoin (LTC) and Unus Sed Leo (LEO) seeing some losses at the time of writing. Meanwhile, Chainlink (LINK) and Cosmos (ATOM) are reporting the biggest gains among the top 20 over the past 24 hours, both up around 4%, according to Coin360. Market visualization. Source: Coin360 After trading…

US SEC Approves BTC Futures Fund to Offer Shares to Institutional Investors

Bitcoin (BTC) futures-focused NYDIG Bitcoin Strategy Fund has procured approval from the United States Securities and Exchange Commission (SEC), entitling it with the right to offer its shares to institutional investors. According to an SEC filing that came into effect on Dec. 2, the New York Digital Investment Group LLC (NYDIG) is now authorized to offer its shares to institutional investors, including registered investment advisers, their clients, and other eligible investors. For those who intend to invest in the shares, the fund does not put forward a minimum investment requirement.…

Bitcoin (BTC) Trading Near Make-or-Break Levels

Bitcoin price is still trading above the $7,200 and $7,240 support levels against the US Dollar. The price is struggling to climb above the $7,440 and $7,500 resistance levels. There is a major breakout pattern forming with resistance near $7,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above the $7,500 resistance or it might dive back towards $7,000. Bitcoin price is likely setting up for the next key break against the US Dollar. BTC must stay above $7,240 to start…

Bitcoin (BTC) Could Rise Again Before Fresh Monthly Low

Bitcoin price is back to where it started and trading below the $7,380 resistance against the US Dollar. The price is currently under pressure, but it is likely to hold the $7,100 support area. There is a short term contracting triangle forming with resistance near $7,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise again towards the $7,380 and $7,400 resistance levels, where sellers might emerge. Bitcoin price is back in a bearish zone below $7,400 against the US Dollar. BTC is…

Ripple (XRP) Price Could Revisit $0.2000, BTC & ETH Under Pressure

Ripple price rallied recently above the $0.2220 resistance, but failed near $0.2265 against the US dollar. The price currently declining and it is approaching the pre-rally level near $0.2100. There is a new bearish trend line forming with resistance near $0.2210 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also down and moving towards the $142 support area. Ripple price is still trading in downtrend despite the recent rally against the US Dollar, similar to bitcoin. XRP price is likely to revisit the $0.2000…

Bitcoin (BTC) Trend Overwhelmingly Negative, Continue Selling?

Bitcoin price is slowly declining and it recently broke the $7,200 support area against the US Dollar. The price is currently consolidating above $7,100 and likely to continue lower. Yesterday’s key declining channel is still active with resistance near $7,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but sellers are likely to remain in control near $7,200 and $7,250. Bitcoin price is showing signs of additional losses below $7,000 against the US Dollar. BTC remains sell on rallies until there…

Ripple (XRP) Price Remains In Downtrend, BTC & ETH Down 3%

Ripple price is declining and it is now trading below the $0.2180 support against the US dollar. The price is trading in a downtrend and it seems like the bears are aiming $0.2000. This week’s major bearish trend line is still active with resistance near $0.2205 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum also traded below the key $145 support and it could retest $135. Ripple price is showing signs of further losses against the US Dollar and bitcoin. XRP price is likely to…