BTC price hits $57K five-month high — 5 things to watch in BTC this week

Bitcoin price action beats last week’s local high to edge ever closer into final resistance before all-time highs of $64,500.

Bitcoin price action exactly conforms to PlanB’s predictions for a second time, and if history repeats itself, BTC/USD should be at $63,000 by the end of the month.

China’s wide-spanning crypto ban puts a hefty dent in token values, but the surge in DEX volumes and BTC’s pop above $55,000 suggest the move was a blessing in disguise.

October already feels like a different planet to September for traders as abrupt upside sees resistance levels fall like dominoes.

Analysts say Bitcoin has started its journey toward a new all-time high and the sideways action from altcoins suggests traders are shifting funds into BTC.

THORSwap users can now transact across Bitcoin, Litecoin, Binance Smart Chain and Bitcoin Cash networks.

Grayscale’s GDLC fund now includes SOL and UNI at 3.24% and 1.06%, respectively, after reducing LTC and BCH holdings.

AXS, LUNA and a handful of altcoins rallied to new highs shortly after Bitcoin’s price rallied to $49,200.

ETH price is lagging behind BTC’s recent gains, but data signals that traders are confident in the altcoin breaking through $4,000 in the short-term.

Bitcoin remains strong above its recent breakout level, but several major altcoins will be under pressure until BTC reveals its next move.

ETH/BTC dropped below its 200-day exponential moving average for the first time since March 2020, raising risks of more downside.

The downside does not last long with an abrupt return to form taking Bitcoin price action back to mid-May levels.

Institutional investors piled $225 million into Bitcoin products, while Ether products saw outflows of $13.6 million this past week.

BTC price rejected near $58,000, but derivatives data shows traders positioned neutral-to-bullish, leaving sufficient “room” for a new all-time high in 2021.

The billionaire investor conveyed his predominantly bullish opinions on the crypto ecosystem during a recent online interview

Rumors of an imminent Bitcoin ETF approval are boosting sentiment and prices across the market, but caution is warranted, as it could turn into a buy-the-rumor, sell-the-news event.

It’s full bull all over again as $56,000 and a trillion-dollar market cap become the focus again for Bitcoin bulls.

Over the past week, social memecoin DOGE has risen 25% above the previous psychological price threshold of $0.25.

The stock trading app is set to debut crypto trading for its users except those in the state of New York.

Institutional crypto appetites have shifted away from altcoins back to Bitcoin, with BTC investment products leading the inflows for digital asset products for the second week in a row.

A day of gains looks increasingly in jeopardy as shaky support levels provide fertile ground for fresh volatility.

It’s a classic euphoria setup on Bitcoin markets Thursday as traders flip long BTC in ever larger numbers.

BTC is up almost 50% this year overall, brushing aside corrections and increasingly decoupling from the macro environment in Q4.

“The Market Report” with Cointelegraph is live right now with special guest Mati Greenspan, founder and CEO of Quantum Economics.

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