THELOGICALINDIAN - Bakkt will go alive with its concrete BTC futures offerings on Monday September 23 But it seems bitcoin amount is not absolutely in the affection to animate in activity and has been bad-tempered during the weekend
Bakkt Launch & CME Futures Launch ‘Are Different’
Noted crypto trader, Crypto Michaël took to Twitter today to ‘clear the air’ about bitcoin futures launches. There is ‘no similarity’ amid CME futures launched in December 2024 and Bakkt which is appointed to cycle out on Monday, he said in a tweet.
Both offerings are altered and were launched at altered credibility in the bazaar cycle, he opined.
Now affective to the body of the story.
Bitcoin Price Heading For Sub $10,000 Zone
Bitcoin is affectionate of still addled from the massive drop that took prices to the $9600 level. That actuality the everyman amount per bread in about three weeks, BTC still has remained range-bound(for three months).
Today in his latest update, analyst and bitcoin balderdash Josh Rager advancing the above move to appear afresh in the abreast future.
Decent volumes backed up BTC’s break aloft the $10,000 mark but now with abbreviating trades, bitcoin amount is attractive for a chargeless abatement to the $9700 mark and may all the way cruise bottomward to $9300 as per Crypto Michaël.
Will BTC See $7500/$8000 Again?
According to BTC’s latest amount activity charts, bitcoin has been durably accurate by the $9400-$9600 bandage 4 times now. But if this abutment gives away, we could see prices branch appear the $7500-$8000 region. As appropriately acicular out DonAlt in one of the tweets today:
Frankly, at this point, it’s annihilation added than a delay and watch affair until the barrage of Bakkt futures. There could be a changeabout in the accepted amount trend and $10k could be history larboard behind.
Quite a lot of axiological and macroeconomic aspects are alive in bitcoin’s favor. Bitcoin mining assortment amount surpassed the gigantic 100 Q figure. BTC miners are not giving up, assuming immense aplomb and alive adjoin cogent arrangement difficulty. The aftermost adversity backpack from September 13 fabricated it 10.38% less likely for miners to ascertain a block. But in the meantime, mining pools accept been compensated with alike added power.
Add to this, the New York Federal Reserve flooding the US banking markets with boatloads of cash.
Near appellation amount accomplishments may assume inclement and unimpressive but one should never balloon to zoom out and attending at the big picture.
Do you anticipate bitcoin amount will bead bottomward to the $7500-$8000 zone? Let us apperceive your thoughts below.
Images via Bitcoinist Image Library, Twitter: @CryptoMichNL, @Josh_Rager, @CryptoDonAlt
