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Price analysis 10/15: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Published 10/15/2021, 08:40 PM
Updated 10/15/2021, 10:20 PM

Bitcoin (BTC) rose within a few steps of $63,000 today for the first time since April 18. The recent surge in the price may have been caused after various documents pointed to the eventual approval of a futures-based BTC ETF by the United States Securities and Exchange Commission. According to these documents, the regulator may be close to green lighting the application to list Valkyrie’s Bitcoin Strategy exchange-traded fund ETF for listing on Nasdaq.

Analysts pointed out that gold’s price had risen sharply leading up to the launch of the first U.S.-based gold ETF in 2004. Thereafter, the rally continued and gold’s price rose more than 300% since the ETF was approved, before forming a major top. The similarity between gold and Bitcoin being stores of value appear to have generated huge excitement for the launch of a Bitcoin ETF.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
LUNA/USDT daily chart. Source: TradingView
UNI/USDT daily chart. Source: TradingView

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