{"id":358177,"date":"2021-10-26T17:42:09","date_gmt":"2021-10-26T14:42:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-price-dips-below-62k-on-vaneck-bitcoin-etf-launch-day\/"},"modified":"2021-10-26T17:42:09","modified_gmt":"2021-10-26T14:42:09","slug":"btc-price-dips-below-62k-on-vaneck-bitcoin-etf-launch-day","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-price-dips-below-62k-on-vaneck-bitcoin-etf-launch-day\/","title":{"rendered":"# BTC price dips below $62K on VanEck Bitcoin ETF launch day"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a329d9aafda3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a329d9aafda3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/btc-price-dips-below-62k-on-vaneck-bitcoin-etf-launch-day\/#61600_support_target_for_BTC\" >$61,600 support target for BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/btc-price-dips-below-62k-on-vaneck-bitcoin-etf-launch-day\/#Altcoins_due_a_%E2%80%9Ccopy_paste%E2%80%9D_of_earlier_bull_run\" >Altcoins due a &#8220;copy paste&#8221; of earlier bull run<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># BTC price dips below $62K on VanEck Bitcoin ETF launch day <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) fell below $62,000 on Oct. 26 as the launch of the third U.S. regulated exchange-traded fund (ETF) failed to budge sideways price action.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/4779dfa3-25c2-4bda-bc62-2e6f735bef95.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"61600_support_target_for_BTC\"><\/span>$61,600 support target for BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BITSTAMP\">TradingView<\/a>\u00a0showed BTC\/USD hitting daily lows as U.S. markets opened Tuesday.<\/p>\n<p>The latest ETF, the VanEck Bitcoin Strategy ETF ($XBTF), was met with a decidedly different mood on the day as Bitcoin seemed unmoved by the prospect of fresh institutional involvement.<\/p>\n<p>Last week&#8217;s ProShares Bitcoin Strategy ETF saw a surge which ended in new all-time highs for BTC\/USD, these still unmatched as a correction challenged $60,000 support.<\/p>\n<p>At the time of writing, $62,000 formed a shaky focus, this still in line with the latest price forecasts from popular analysts.<\/p>\n<p>&#8220;It\u00a0 would be natural price progression for BTC to dip into ~$61600 (orange level),&#8221; Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1452936559033004032\">commented<\/a> alongside a fresh price chart. <\/p>\n<blockquote><p>&#8220;Holding there would be a sign of strength on the side of buyers.&#8221;\u00a0<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/63a42b18-1657-4d52-9aa8-354298c7008a.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD summary. Source: Rekt Capital\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Expectations have remained high for all-time highs to see a retest on the back of recent movements, while research has argued that a dip as low as $50,000 would still preserve the overall bullish trajectory.<\/p>\n<p>As Cointelegraph reported, even the October close is predicted to be around $63,000, giving Bitcoin room to track sideways longer before pressure increases.<\/p>\n<p>PlanB, the analyst who called $63,000 the &#8220;worst-case scenario&#8221; for the monthly close, proclaimed the second leg of the 2021 bull officially in progress this week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_due_a_%E2%80%9Ccopy_paste%E2%80%9D_of_earlier_bull_run\"><\/span>Altcoins due a &#8220;copy paste&#8221; of earlier bull run<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Major altcoins were similarly tentative in their behavior on the day, with Ether (ETH) unmoved at $4,150.<\/p>\n<p><strong><em>Related:\u00a0GBTC delivered better returns than Bitcoin ETFs last week<\/em><\/strong><\/p>\n<p>The top ten cryptocurrencies by market cap were likewise flat over the past 24 hours \u2014 a rare episode of communal calm for an asset group that has been characterized by volatility this month.<\/p>\n<p>&#8220;We know this structure from earlier on in which we&#8217;ve also had retests h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening before we&#8217;ve started to continue moving,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe said in his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=D9lBkGbrE6w\">YouTube update<\/a>.<\/p>\n<p>He predicted a &#8220;copy paste&#8221; scenario of the gains from the start of 2021 at a later date, with the timeframe for this nonetheless unpredictable.<\/p>\n<p>&#8220;Upside is <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly higher than what you expect to be happening,&#8221; he added.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/7c21d8ca-0941-4b0a-9572-6f67e7abd425.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/btc-price-dips-below-62k-on-vaneck-bitcoin-etf-launch-day\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# BTC price dips below $62K on VanEck Bitcoin ETF launch day &#8221; Bitcoin (BTC) fell below $62,000 on Oct. 26 as the launch of the third U.S. regulated exchange-traded fund (ETF) failed to budge sideways price action. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView $61,600 support target for BTC Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":358178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvZGU2MDdmMTEtMWE0NS00ZDUxLTllMTgtYTRmNDhmZmM5Y2JkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,75849,82402,74891,73785],"class_list":["post-358177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-etf","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=358177"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/358177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/358178"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=358177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=358177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=358177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}