Bitcoin
BTC
$20,709
surged to a new all-time high on Oct. 20, hitting close to $67,000. Ether
ETH
$1,532
also broke above its immediate resistance and has started its march toward the all-time high. This pushed the total market capitalization of the crypto sector to a new all-time high above $2.64 trillion.
The successful debut of the ProShares’ Bitcoin Strategy exchange-traded fund (BITO) acted as the trigger to boost sentiment in the crypto space. The ProShares’ ETF trading volume on the first day of the launch exceeded $1 billion, making it the second-most successful ETF debut based on the trading volume on day one.
Daily cryptocurrency market performance. Source: Coin360A panel of 50 fintech industry specialists, commissioned by Finder, believes that strong on-chain fundamentals, a favorable macro environment and approval of the Bitcoin ETF could send Bitcoin to $80,000 by the end of the year.
Could Bitcoin piggyback on the positive sentiment created due to the successful launch of the Bitcoin ETF and continue its northward march? Will altcoins also resume their up-move? Let’s study the charts of the top 10 cryptocurrencies to find out.