Analysts Warn Bitcoin Could Break Support As New ETF Delays Announced – BTC, Ethereum, XRP, Litecoin, Stellar, BNB, EOS, BSV, XMR Forecasts
The U.S. Securities and Exchange Commission has delayed its decision on three Bitcoin ETF proposals.
The agency is now facing a hard deadline of October 13th for a proposal from Bitwise as well as a final deadline of October 18th for the VanEck proposal. A third proposal from Wilshire Phoenix can be delayed for another 150 days.
So far, the crypto markets have shrugged off the new delays. Right now, Bitcoin is up 0.84% at $11,442 according to COIN360. Ethereum is down 0.71% at $212.90, XRP is up 1.49% at $0.3040 and Litecoin is down 5.27% at $86.10.
CoinDesk’s Omkar Godbole says Bitcoin bears may be in charge in the near term, after a four-day struggle.
“Bitcoin (BTC) could drop below $11,000 in the next 24 hours, after sellers took victory in a four-day-long tug of war with the bulls…
So far, the downside has been restricted to levels around the former resistance-turned-support of $11,100.”
The crypto outlet Bitcoinist is on the same page, highlighting BTC’s underwhelming volume.
“Bitcoin price levels hold above $11,000 for now but the low volume could cause this support to break.”
Here’s a look at the latest forecasts from across the cryptoverse.
Bitcoinist – BTC looks to break support at $11,000
FXStreet – ETH/USD trading above the descending channel
Stellar, Litecoin, Binance Coin, EOS, Bitcoin SV, Monero
FX Empire – Holding onto $0.07730 levels will be key for XLM
Cointelegraph – Majors analysis, plus BCH, LTC, BNB, EOS, BSV, XMR, XLM