Bitcoin (BTC) prices held steady above the $27,000 level Friday even as broader financial markets showed mixed movements. Global oil prices retreated
markets were buoyed mainly as participants expected increased demand in the short term as a formal ether futures exchange-traded fund was floated by financial giant VanEck. However, some analysts warned of selling pressure on riskier assets such as bitcoin, citing all-time highs in certain oil markets.
Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing“Despite the fact that the SEC postponed their decision to approve or disapprove Ark, BlackRock, and Valkyrie’s bitcoin ETFs this week, the market’s hope for spot bitcoin ETF approval seems to have been revitalized following the Ether Futures ETF decision,” analyst Yuya Hasegawa shared.
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