{"id":589022,"date":"2024-10-19T18:02:32","date_gmt":"2024-10-19T18:02:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=589022"},"modified":"2024-10-19T18:02:32","modified_gmt":"2024-10-19T18:02:32","slug":"bitcoin-price-prediction-as-sec-approves-btc-etf-options-trading-for-nyse-and-cboe-investors-flock-to-this-ico-with-2090-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-as-sec-approves-btc-etf-options-trading-for-nyse-and-cboe-investors-flock-to-this-ico-with-2090-staking-apy","title":{"rendered":"Bitcoin Price Prediction: As SEC Approves BTC ETF Options Trading For NYSE And CBOE, Investors Flock To This ICO With 2,090% Staking APY"},"content":{"rendered":"
The Bitcoin price climbed 2% in the last 24 hours <\/span>to trade at $68,784<\/span><\/a> as of 11:20 p.m. EST on trading volume that dropped 2% to $33 billion.<\/span><\/p>\n This comes after the Securities and Exchange Commission (SEC) approved Bitcoin ETFs (exchange-traded funds) for the New York Stock Exchange (NYSE) and Chicago Board Options Exchange (CBOE). The approval is seen as a step in integrating digital assets into traditional finance.<\/span><\/p>\n The Bitcoin price chart shows a bullish reversal pattern after a recent period of consolidation. The bulls seem to be capitalizing on the support around $59,800, which formed a double bottom pattern, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n As a result of the rally, BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs).<\/span><\/p>\n The RSI is at 66.55, approaching the overbought zone (above 70). This suggests that the market has strong bullish momentum, but it is getting closer to overbought conditions. A value above 70 could signal that the asset is overbought, and a correction or consolidation might follow.<\/span><\/p>\n The overall outlook for WBTC\/USD is bullish in the short to medium term. The double bottom pattern, price above key moving averages, and strong RSI all suggest continued upward momentum.<\/span><\/p>\n A sustained bullish momentum could see BTC price soar to the next possible resistance level at $72,000.<\/span><\/p>\nBitcoin Price Could Continue Soaring<\/strong><\/h2>\n