Bitcoin price jumped this week after a shift in sentiment on Thursday when global equities went back in the green and investors favored riskier assets like cryptocurrencies. Ethereum and Bitcoin broke through a few critical bearish elements, while XRP seems not to be enjoying the favorable tailwind in global markets.
The SEC is prepared to allow the launching of first US Bitcoin future ETF in what could be a turning point for cryptocurrencies. Securities Exchange Commission to support the launch of ETFs, four applications are lined up for October 2021. Bitcoin price exploded, touching $60,000, the highest point since April 2021 when it hit an all-time high of $64,869. Bloomberg’s senior ETF analyst has given over 90% odds of SEC approving at least one futures-backed ETF.
Dogecoin price is ready for a strong rebound as pent-up demand and a return of bulls come into the market. However, a powerful reversal pattern is present and could trigger one of the most explosive moves higher that Dogecoin has seen in the past six months.