Forex. Cryptocurrency Forecast for today
Speculative sales on small volumes could not change the uptrend of the beginning of October.
The capitalization of the cryptocurrency market by the end of Friday amounted to 2.39 trillion US dollars against 2.64 on Thursday. This indicates a reduction in long positions, market participants adhere to a wait-and-see position. At the moment, there is no important news that could greatly affect the trading of digital assets. It is possible that in the second half of the week the market was dominated by more speculative trends than fundamental ones.
In the middle of the week, an ETF based on bitcoin futures from ProShares began trading on the New York Stock Exchange (NYSE) under the ticker BITO. The trading turnover on the first trading day amounted to 24.42 million shares, almost reaching $1 billion. According to this indicator, the instrument ranked second among all exchange-traded funds.
SEC Head Gary Gensler commented on the event, recalling that the instrument is based on a "highly speculative asset class" with all aspects of volatility and confirmed the regulator's position on the possible approval of spot exchange-traded funds based on the first cryptocurrency.