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Bitcoin ETF

Bitcoin

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<p class="p1">Bitcoin price is back to where it started late last week amid intense profit booking. However, a trend reversal could be around the corner with the leading US stock exchange, Nasdaq, seeking approval from the Securities and Exchange (SEC) to operate BTC index options.</p> 
<h2 class="p1" id="bitcoin-price-market-movers-nasdaq-seeking-nod-for-btc-index-options-and-btc-etf-inflows">Bitcoin Price Market Movers: Nasdaq Seeking Nod for BTC Index Options and BTC ETF Inflows</h2> 
<ul> 
 <li class="p1">Bitcoin price traded at $62,175 on Tuesdays following a 2.1% decline in 24 hours. Profit-taking has continued to eat into BTC accrued gains, with CoinGecko showing a modest 2.8% increase in seven days.</li> 
 <li class="p1">Nasdaq has filed with the SEC for a license to offer and trade Bitcoin index options. If granted, the approval could be a game changer for the largest cryptocurrency, seeing that the regulator has yet to green-light options connected to any <a href="https://coingape.com/blackrock-bitcoin-etf-inflows-hit-224m-btc-price-to-70k/"><span class="s1">exchange-traded funds (ETFs)</span></a> currently being traded in the US. Bitcoin index options will provide a quick yet inexpensive product for investors to seek exposure to the underlying digital asset. Traders and institutional investors can hedge against their exposure to&nbsp;<a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">BTC price</a>, thereby normalizing Bitcoin as a global asset class.</li> 
 <li class="p1">Nasdaq’s proposed Bitcoin index options are expected to track the real-time performance of CME CF Bitcoin Real-Time Index, which CF Benchmarks created to monitor and track BTC futures and options contracts offered by the exchange and operated by CME Group.</li> 
 <li class="p1">Institutional investors are back after weeks of declining liquidity in the US Bitcoin ETF market. According to <a rel="nofollow" href="https://sosovalue.xyz/assets/etf/us-btc-spot"><span class="s1">SoSoValue</span></a>, all 12 ETFs posted $202.51 million in net inflows on Monday, continuing <a href="https://coingape.com/markets/top-2-solana-bitcoin-price-prediction-btc-gears-up-for-70k-with-543m-fund-inflows/"><span class="s1">last week’s $506 million inflow streak</span></a>. BlackRock’s IBIT led with $24 million, followed by Franklin Templeton’s $5.52 million and WisdomTree’s BTCW’s $5.05 million. Bitcoin ETFs have consistently recorded inflows since August 15, suggesting increasing investor interest and general market sentiment.</li> 
</ul> 
<figure id="attachment_214294" aria-describedby="caption-attachment-214294" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-214294" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49.png" alt="Bitcoin Price Prediction As Nasdaq Files with SEC for BTC Index Options" width="2321" height="1049" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49.png 2321w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49-300x136.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49-1224x553.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49-768x347.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49-1536x694.png 1536w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49-2048x926.png 2048w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-at-17.09.49-150x68.png 150w" sizes="(max-width: 2321px) 100vw, 2321px">
 <figcaption id="caption-attachment-214294" class="wp-caption-text">
  Bitcoin ETF Stats | SoSoValue
 </figcaption>
</figure> 
<h2 class="p1" id="btc-price-prediction-bitcoin-seeks-higher-support">BTC Price Prediction: Bitcoin Seeks Higher Support</h2> 
<p class="p1">Bitcoin price delicately holds at the edge of a cliff, considering the sharp correction from $65,000 to last week’s peak of below $62,000. Several potential support areas have failed to protect BTC price from trimming the gains with the 50-day Exponential Moving Average (EMA) caving in the early US trading session.</p> 
<p class="p1">The drastic drop in the relative strength index (RSI) to 38 indicates a spike in sell-side pressure. Bulls have a chance to stop the correction above the ascending trend line in the four-hour range, but it is too early to rule out an extended decline below $60,000.</p> 
<figure id="attachment_214295" aria-describedby="caption-attachment-214295" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-214295" src="https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21.png" alt="BTC price chart | Tradingview " width="2694" height="1436" srcset="https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21.png 2694w, https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21-300x160.png 300w, https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21-1224x652.png 1224w, https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21-768x409.png 768w, https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21-1536x819.png 1536w, https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21-2048x1092.png 2048w, https://coingape.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-27_17-44-21-150x80.png 150w" sizes="(max-width: 2694px) 100vw, 2694px">
 <figcaption id="caption-attachment-214295" class="wp-caption-text">
  BTC price chart | Tradingview
 </figcaption>
</figure> 
<p class="p1">The 200-day EMA at $61,421 could provide relief, allowing bulls to fight for space in the market based on the previous <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/"><span class="s1">BTC price prediction</span></a>. On the bright side, dips could prove profitable as traders DCA to maximize gains in the long run. Potential near-term targets include the 20-day EMA at $63,045, resistance at $64,000, and last week’s high at $65,000.</p> 
<p>The post <a href="https://coingape.com/markets/bitcoin-price-prediction-as-nasdaq-files-with-sec-for-btc-index-options/">Bitcoin Price Prediction As Nasdaq Files with SEC for BTC Index Options</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Bitcoin Price Prediction As Nasdaq Files with SEC for BTC Index Options

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