Bitcoin ETF

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 <p class="is-style-lead">XRP is down 5%, falling as the crypto markets pull back.&nbsp;While the dip can be a concern, some view it as an opportunity to consider the coin and other altcoins, including Bitcoin Minetrix (BTCMTX).&nbsp;</p>
 <p>Experts are bullish on BTCMTX, expecting the token to extend gains once the presale ends.&nbsp;</p>
 <h2 class="wp-block-heading" id="strong-xrp-is-pulling-back-as-investors-take-profits-strong"><strong>XRP is pulling back as investors take profits</strong></h2>
 <p>On the last day, XRP retraced and is moving back towards the $0.60 mark as investors appear to be taking profits.</p>
 <p>Early this week, XRP surged above $0.71 before cooling off to spot rates. Thus far, the sell-off is below the daily chart’s 20-day exponential moving average (EMA).</p>
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 <p>If XRP remains below this EMA, the next support level is at $0.60, which prevented the token’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> from falling further in the first week of November. However, if XRP recovers from spot rates, it could recover losses suffered in the past few days.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/G6yFh7F7fr5X-rgdR5iZP7gdUfj5yeczjE2eSF7enhY3LZd7yIuKJ_k_vHwSmZATkHeAPScbGty4L6D8qd0nT1LV0ToLRQiv8DXDo_6UQjQw42TN-Qh_eEMpr2U4ckwIQnsZLy_oT9RYPOKe8Qd-Sn8" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 1">
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 <p>According to CoinMarketCap,&nbsp;XRP trading volume&nbsp;is up 8%, making it the ninth most-traded coin globally.&nbsp;</p>
 <p>The spike in participation suggests that despite the recent pullback, there is still considerable interest in XRP.</p>
 <h2 class="wp-block-heading" id="strong-spot-bitcoin-etf-delays-dampen-market-sentiment-strong"><strong>Spot Bitcoin ETF delays dampen market sentiment</strong></h2>
 <p>The crypto market is retracing after sharp gains in early November. Bitcoin (BTC) and Ethereum (ETH) are currently below $37,000 and $2,000, respectively.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/RMulHukd0OrwD9-DxzMkwgk2_e0zY2kU0dn8YCrVb3FyXyTRrH-9a9m8DnADQXRho7RSDiKwvB08f37kIyHn_WvlZ0cpJ_imjxFI-y5_hbu4vdxyDoM4aePXLK1Gu0rEW2DRXVhNqVcBd3Ep6xZ-_3I" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 2">
 </figure>
 <p>The retracement could be due to delays and uncertainties related to the approval of a spot Bitcoin exchange-traded fund (ETF) in the United States.</p>
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 <p>Investors were anticipating the United States Securities and Exchange Commission’s (SEC)approval of a Bitcoin ETF by now. Potential&nbsp;legal action&nbsp;from Grayscale over the rejection of its GBTC conversion could also create obstacles.</p>
 <p>The SEC is still working with ETF applicants despite some delays. This suggests that the vetting process is still moving forward.</p>
 <p>However, because of the longer timeline, short-term sentiment has been negatively impacted, and crypto <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s may remain stagnant until there is more clarity on when a spot Bitcoin ETF will be authorized.</p>
 <h2 class="wp-block-heading" id="strong-stake-to-mine-project-bitcoin-minetrix-raises-4-1m-strong"><strong>Stake-to-mine project, Bitcoin Minetrix, raises $4.1m</strong></h2>
 <p>Bitcoin Minetrix&nbsp;appears resilient despite the near-term challenges the broader crypto market faces.&nbsp;</p>
 <p>The platform supports a stake-to-mine model for users to earn mining rewards when they stake instead of buying expensive hardware.</p>
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 <p>Bitcoin Minetrix allows users to stake BTCMTX, its native ERC-20 token, in exchange for mining credits, which can be redeemed for access to Bitcoin cloud mining power or a portion of mining yields.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/rxWMast2VVr9cP-AkP2ZYpWG8M1ovoGBnqOkuDoywkBD4H8T_qHF-399iCQdDIxjazJcZdVvRZNUrUOsD7Dz4HEUr6FtL3REuQ8goQ2z1vUu47MebZh09wy0Z3AuDLBbL96CR-xhPpa7QUvy2g9XvQk" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 3">
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 <p>So far, Bitcoin Minetrix has over 5,100 followers on&nbsp;Telegram. Additionally, it has raised over $4.1 million in the ongoing presale.&nbsp;</p>
 <p>The project developer plans to list BTCMTX on exchanges after the presale ends.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/Bv8S0Z0CrT7xMNsxwPX0vSxjXgix96Uuv1Qb7XKLPdOUPXYR3Rjtn9GxhsrvxGQRTIEMAqkusNpCTv_gWeAHQjmdS-eOUY28ftM0d3Wuz2FbtpHjza5rD8Y8N2IvraLZqAI7NWqd6jDQd6cGKcMmiCs" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 4">
 </figure>
 <p>YouTube <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a> Austin Hilton is bullish on Bitcoin Minetrix, especially its value proposition.&nbsp;</p>
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 <p>He notes that the project aims to address key pain points related to mining accessibility and profitability ahead of the Bitcoin halving event.</p>
 <p><strong>Visit the Bitcoin Minetrix presale</strong></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-drops-5-as-prices-slump-analysts-focus-on-new-altcoin-tbt70747.html">https://thebittimes.com/xrp-drops-5-as-prices-slump-analysts-focus-on-new-altcoin-tbt70747.html</a></p>

XRP drops 5% as prices slump; analysts focus on new altcoin

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