• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain

Bitcoin Price Spikes Nearly $500 in Minutes on Bakkt News

Tony "The Bull" by Tony "The Bull"
4 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Bitcoin price has been trapped in a symmetrical triangle for weeks now, bouncing back and forth between the top and bottom resistance and supports, making increasingly lower peaks and higher troughs, but breaking news surrounding Bakkt may have just ended any bearish pressure for the time being.

Just as Bitcoin was flirting with a potential breakdown from the triangle after a rejection from $12,000, the crypto asset has spiked nearly $500 in a matter of minutes following news that Bakkt had received approval from the CFTC to proceed with the launch of its physically-settled Bitcoin Futures trading platform.

Bitcoin Price Bounces From $10,000 to Nearly $10,500 in Minutes

Bitcoin price action has been a wild ride ever since the crypto asset was rejected at $13,800 towards the end of June. Since then, it’s been nothing but bounces and rejections at each top and bottom of a symmetrical triangle that’s been forming over the course of the last three months.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Related Reading | Historical Data Shows Bitcoin Price Correction Could Last 5 More Months

Bitcoin price had just been flirting with the bottom of the trading range and was at risk of a deep drop lower after a rejection above $12,000 hurt the pride of bulls who had been confident that it was the last retest of highs before a breakout brought BTC to the next highest trading range, or potentially to retest its former all-time high at $20,000.

But at 11:15AM Eastern, right around when news broke that Bakkt had received final CFTC approval to proceed with its physically-settled Bitcoin Futures trading platform, Bitcoin price spiked from near $10,000 to a just under $10,500 before a slight pullback to around $10,400 where Bitcoin price is currently trading.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

bitcoin price bakkt news

Bakkt Is Why BTC Bounced Back Up

Crypto analysts everywhere were clamoring for the price per BTC to fall lower, after a strong rejection at $12,000 this month but Bitcoin’s bull run in jeopardy and caused the price to collapse by as much as $2,500 at one point before bouncing back upward to $10,000 where the leading crypto asset had been struggling to find support.

Related Reading | Crypto Analyst: Recent Bitcoin Price Struggle Similar to 2017 Run 

Just as things began to look grim once again, with Bitcoin price teetering on the edge of $10,000 and ready to test low $9000s once again, the news of Bakkt broke and Bitcoin price spiked.

Bakkt CEO Kelly Loeffler revealed the news in a company blog post, Bakkt would be finally ready to launch its “custody and physically-delivered daily and monthly bitcoin futures contracts” on September 23 after getting the “green light from the CFTC.”

Loeffler also revealed that the firm had already begun onboarding and testing with market participants, and will continue to do so leading up to the September 23rd launch, barring any additional snags they may run into before the.

Bakkt had been regularly cited as the catalyst to start the next crypto bull run, and that catalyst appears to finally be here, and the recent spike in Bitcoin price might only be the start.

Tags: bakktbitcoinbitcoin pricecftccrypto
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony "The Bull"

Tony "The Bull"

Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check him out on Twitter or in his free TonyTradesBTC Telegram channel. Follow @TonyTheBull on Twitter and search CoinChartist on YouTube.

Related Posts

Solana

Solana Posted Recent Gains But This Price Zone Remains Crucial

38 mins ago
Bitcoin

Bitcoin CME Gap at $28,000 Filled, But Correction Risk Looms

2 hours ago
Bitcoin

Bitcoin Shows 35.8% Weekly Gains: Why This Means The Top Is Near

3 hours ago
Binance's BNB emerges top gainer

Binance’s BNB Emerges Top Gainer Among Large Altcoins, Here’s Why

4 hours ago
Taiwan regulations

Taiwan Follows Hong Kong With Plans To Regulate Crypto

5 hours ago
Investment Sectors: Web3 Trends in 2023

Investment Sectors: Web3 Trends in 2023

5 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Aave News Points To Head Of Development In Search Of AI Solutions – Avorak AI Proves Itself In ICO Phase

March 20, 2023

New Meme Project Love Hate Inu Raises $1 Million & Enters Stage 2 of Presale

March 20, 2023

TMS Network (TMSN) Holders Enjoy Gains in Presale Attracting New Investors from PancakeSwap (CAKE) And Algorand (ALGO)

March 20, 2023

USD Coin (USDC) And Cardano (ADA) Suffer Losses While TMS Network (TMSN) Explodes in Presales

March 20, 2023

TMS Network (TMSN) Emerges as the New Favorite of Investors, Leaving Filecoin (FIL) and Arweave (AR) in the Dust

March 20, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.