China News Today Official TheBitTimes.com

While unlikely, Bloomberg’s ETF analysts conceded that there’s always a possibility that SEC Chair Gary Gensler could be waiting until the last moment to deny the flurry of pending spot Bitcoin ETF applications. There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts .  In an Oct. 31 tweet directed at senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, ETF commentator Dave Nadig posed whether Gensler may be allowing for spot Bitcoin ETF applications to pile up just to deny them all at once in a “semi-comedic rug-pull.” “I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull,” said Nadig. I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comed...

Bitcoin’s months of sideways action have been uncannily similar to the previous two BTC market cycles, which saw a pivot in November leading up to a halving event. Bitcoin’s ongoing sideways price action could flip bullish as early as November if it behaves similarly to previous cycle s leading up to a halving event, according to market observers. On Oct. 10, crypto analyst Miles Deutscher cited a chart from CryptoCon, noting that the recent patterns for Bitcoin are similar to those seen in previous cycle s. “This is typical sideways price action that occurs from Q2-Q4 in pre-halving years.” He added that Nov. 21 has historically been a key pivot point for Bitcoin's price to begin trending upward as it heads to the next halving. For example, following six months of sideways trading in mid-2015, BTC prices starting gaining ground around November. Likewise in 2019, markets spent most of the year flat before taking off around the end of the year. BTC price performance after each h...