Financial regulators across the world finally seem to be warming up to the idea that cryptocurrencies can trade in tandem with stock markets and also in exchange-traded funds (ETF).  On Feb. 11, Canada’s Ontario Securities Commission approved the proposal of a Bitcoin ETF by Accelerate Financial, which marks the first approval of a Bitcoin 

BTC

$23,094

 ETF in North America.

The Australian Securities and Investments Commission has also softened its stance toward a Bitcoin ETF. ASIC commissioner Cathie Armour said a Bitcoin ETF may get the green light if the particular market has proper rules in place.

The approval of Bitcoin ETFs by several countries will put pressure on the regulators in the U.S. to consider future proposals favorably.

Bitcoin soared above a $900 billion market capitalization today, bringing it within a striking distance of the $1 trillion figure.

The growing popularity of the crypto derivatives market is another added advantage as it shows the asset class has matured. Even in legacy markets, derivatives are one of the key components that are used for the price discovery of an asset.

Let’s analyze the charts of the top-10 cryptocurrencies to determine the trend and spot the critical levels that may signal a trend change.