Bitcoin Price Analysis: ETF Options by 2025 and $25M Fraud Case Shape Market Moves

Bitcoin price has dropped sharply, falling from $62,500 to around $60,900, as market sentiment shifts.

Recent developments, including potential Bitcoin ETF options by 2025 and a $25 million cryptocurrency fraud case, are influencing investor decisions.

Additionally, Cathie Wood’s ARK Invest’s $36 million Robinhood share sale has contributed to market volatility.

Bitcoin ETF Options Likely Available by Q1 2025, Says Bloomberg Analyst

Bitcoin ETF options could be available in the U.S. by early 2025, according to Bloomberg analyst James Seyffart.

Speaking at the Permissionless conference on October 9, Seyffart noted that while the SEC has approved options on BlackRock’s Bitcoin ETF, final approvals from the CFTC and OCC are still pending.

These options could attract more financial advisors, who currently use options in over 10% of client portfolios, giving them considerable influence in the $9 trillion ETF market.

Overall, Bitcoin ETF options could pave the way for higher investor interest and potential price growth.

U.S. Charges 15 Individuals and 3 Firms with $25M Cryptocurrency Fraud

U.S. authorities have charged 15 individuals and 3 cryptocurrency firms, including CLS Global, ZM Quant, and Gotbit, with fraud and market manipulation.

These entities allegedly participated in “pump and dump” schemes and manipulated trading volumes using fictitious trades.

The FBI even created a fake company, NexFundAI, to catch the culprits. So far, several individuals have been detained or pleaded guilty, and over $25 million in cryptocurrencies has been seized.

Despite Bitcoin not being involved, regulatory actions could indirectly influence its market perception and future demand.

Cathie Wood’s ARK Invest Sells $36M Worth of Robinhood Shares Amid Stock Surge

Cathie Wood’s ARK Invest offloaded $36.4 million worth of Robinhood shares on October 8, 2024, from three of its funds.

This move follows Robinhood’s over 100% year-to-date surge, reaching multiyear highs. ARK sold 1.4 million shares to stay within the 5% cap on fund holdings as per Rule 12d3-1.

Despite the sale, ARK still holds $274 million worth of Robinhood shares, representing 4.9% of its ARKK fund.

This strategic shift indicates ARK’s broader emphasis on the cryptocurrency market’s potential growth.

Bitcoin Drops Below Key Support, Eyes Bullish Reversal

Bitcoin (BTC/USD) has seen a steep decline, slipping from its previous support at $62,500 to trade around $60,900. The cryptocurrency broke below its upward channel, signalling a potential shift to bearish sentiment.

However, the formation of a hammer candle on the 2-hour chart suggests a possible bullish reversal. Immediate support stands at $60,500, with deeper levels at $59,900 and $59,100.

On the upside, resistance is at $61,700, followed by $62,500 and $63,200. The Relative Strength Index (RSI) remains at 41, indicating neutral momentum but nearing oversold conditions. Meanwhile, the 50-day Exponential Moving Average (EMA) at $62,400 acts as a strong overhead resistance.

Key Insights:

Overall, BTC’s short-term outlook remains cautiously bearish below $62,400, but a confirmed move above this level could re-establish bullish sentiment.

–

PEPE Unchained Raises Over $18 Million: New 10x Meme Coin Potential?

Pepe Unchained ($PEPU) continues to attract attention in the meme coin market, raising $18.4 million in its presale so far. With just a few thousand dollars remaining to hit its $18.6 million target, investors are eagerly watching.

The token’s presale price currently stands at $0.00995 per $PEPU, with a potential price increase expected soon.

Popular crypto analyst Jacob Crypto Bury has released a video discussing $PEPU’s growth potential, highlighting its strong presale performance and staking rewards.

Bury maintains a neutral stance but notes that $PEPU’s secure contract audits and high staking APY of 499% position it as a potential top performer in the meme coin space.

Key Highlights:

With investor sentiment remaining strong, now might be the time to consider adding $PEPU to your portfolio before the next price increase.

Buy PEPU Here

The post Bitcoin Price Analysis: ETF Options by 2025 and $25M Fraud Case Shape Market Moves appeared first on Cryptonews.