{"id":27591,"date":"2023-10-18T00:29:20","date_gmt":"2023-10-18T00:29:20","guid":{"rendered":"https:\/\/isafespend.com\/investing\/bitcoin-rises-as-traders-bet-on-crypto-etf-approvals-how-high-prices-could-go\/"},"modified":"2023-10-18T00:29:21","modified_gmt":"2023-10-18T00:29:21","slug":"bitcoin-rises-as-traders-bet-on-crypto-etf-approvals-how-high-prices-could-go","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=27591","title":{"rendered":"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go."},"content":{"rendered":"
\n
\n

<\/p>\n

\n
<\/div>
\n

Bitcoin prices have broken out of a stagnant trading range around $26,000.<\/h4>\n


\n Dreamstime
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

\n Bitcoin
\n and other cryptocurrencies gained Tuesday as momentum for digital assets continued amid rising expectations that regulators will soon approve spot Bitcoin exchange-traded funds, a long-awaited catalyst for cryptos.<\/p>\n

The price of Bitcoin has risen 2.5% over the past 24 hours to near $28,450, holding firmly above a range around $26,000 that had held for much of the past two months amid stagnant sentiment and historically low volatility and trading volumes. The largest digital asset even spiked above $30,000 on Monday following a false news report that the Securities and Exchange Commission had approved a spot Bitcoin exchange-traded fund (ETF), likely marking just the start of ETF-linked volatility.<\/p>\n

\n

\u201cWe upgrade our short-term bias to bullish,\u201d said Katie Stockton, managing partner at technical research firm Fairlead Strategies. \u201cA decisive breakout by Bitcoin would target secondary long-term resistance near $35,700. Long-term support remains intact near $25,200. Long-term momentum is improved for Bitcoin.\u201d<\/p>\n

Bitcoin has been on a rally since Friday, when news broke that the SEC declined to file a challenge to a federal court ruling that all but paved the way for digital asset manager Grayscale to convert its Bitcoin trust into an ETF. The prospect of a spot Bitcoin ETF\u2014which would hold the token itself as opposed to funds holding futures\u2014has been a looming catalyst for cryptos since the summer, when
\n BlackRock
\n and other mainstream financial giants filed for SEC approval.\u00a0<\/p>\n

Regulatory clearance of such funds is widely expected to rejuvenate crypto markets and usher in a fresh wave of investment in Bitcoin, though there remains uncertainty and likely bumps in the road before any spot Bitcoin ETF begins trading. Nevertheless, traders are growing more bullish that the SEC green-light is on the way, especially for the conversion of the
\n Grayscale Bitcoin Trust.<\/span>\n <\/p>\n

Just look at the Grayscale discount. The asset manager\u2019s trust trades like a closed-end fund, with its price deviating from the net asset value of the Bitcoin it holds. That deviation has been a discount for almost two years, but it is narrowing: The Grayscale discount stood below 15% on Tuesday, down from around 19% at the start of the month and at its narrowest since late 2021.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014rose 1% to $1,590. Smaller cryptos or altcoins were more mixed, with
\n Cardano
\n trading below flat but
\n Polygon
\n up 1%. Memecoins were also mixed, with
\n Dogecoin
\n gaining less than 1% and
\n Shiba Inu
\n shedding 1%.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for digital assets continued amid rising expectations that regulators will soon approve spot Bitcoin exchange-traded funds, a long-awaited catalyst for cryptos. The price of Bitcoin has risen 2.5% over the past 24 hours to<\/p>\n","protected":false},"author":1,"featured_media":26825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-27591","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nBitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go. | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=27591\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go. | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=27591\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T00:29:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T00:29:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/10\/1697310116_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=27591#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=27591\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go.\",\"datePublished\":\"2023-10-18T00:29:20+00:00\",\"dateModified\":\"2023-10-18T00:29:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=27591\"},\"wordCount\":430,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=27591#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=27591\",\"url\":\"https:\/\/isafespend.com\/?p=27591\",\"name\":\"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go. | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-10-18T00:29:20+00:00\",\"dateModified\":\"2023-10-18T00:29:21+00:00\",\"description\":\"Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=27591#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=27591\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=27591#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go. | iSafeSpend","description":"Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=27591","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go. | iSafeSpend","og_description":"Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for","og_url":"https:\/\/isafespend.com\/?p=27591","og_site_name":"iSafeSpend","article_published_time":"2023-10-18T00:29:20+00:00","article_modified_time":"2023-10-18T00:29:21+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/10\/1697310116_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=27591#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=27591"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go.","datePublished":"2023-10-18T00:29:20+00:00","dateModified":"2023-10-18T00:29:21+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=27591"},"wordCount":430,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=27591#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=27591","url":"https:\/\/isafespend.com\/?p=27591","name":"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go. | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-10-18T00:29:20+00:00","dateModified":"2023-10-18T00:29:21+00:00","description":"Bitcoin prices have broken out of a stagnant trading range around $26,000. Dreamstime Bitcoin and other cryptocurrencies gained Tuesday as momentum for","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=27591#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=27591"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=27591#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Rises as Traders Bet on Crypto ETF Approvals. How High Prices Could Go."}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/27591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27591"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/27591\/revisions"}],"predecessor-version":[{"id":27592,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/27591\/revisions\/27592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/26825"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}