Bitcoin ETFs Are All the Buzz — Analysis, 25 Oct

Proshares Bitcoin Strategy ETF was officially launched on Tuesday, October 19th, and it started trading on the New York Stock Exchange (NYSE). The ticker of the first Bitcoin-linked ETF in the U.S. on NYSE is BITO:Source: TwitterThis long-awaited event has marked the beginning of the Bitcoin ETFs era. VanEck, a global investment manager, has also applied for a Bitcoin-linked ETF with the U.S. Security and Exchange Commission. The ETF is to be launched on Monday this week:Source: TwitterValkyrie Bitcoin Strategy ETF started trading on Nasdaq on Friday, October 22nd:Source: TwitterBecause of the launches of the Bitcoin-linked ETFs, the bullish market sentiment has intensified, and BTC recorded a new all-time high at the level of approximately $67,000:Source: TwitterNevertheless, some financial experts believe the Bitcoin price increase results from inflation concerns rather than the Bitcoin-linked ETFs. According to the investment strategist from JPMorgan, the perception of Bitcoin as a better inflation hedge than gold is the key driver of the cryptocurrency price:Source: Bitcoin MagazineFamous Bitcoin bull and Twitter CEO Jack Dorsey seconds this point of view as well.Source: TwitterLast week was quite dynamic for the cryptocurrency market. In the first half of the week, the price of Bitcoin increased and set a new all-time high. However, closer to the beginning of the weekend, a pullback took place. Now, the Monday market starts with a small price rebound. According to Coin360.com, one Bitcoin costs €53,838.70 (+3.17%), one Ethereum — €3,564.67 (+1.33%), one DOGE — €0.2301 (+8.61%), and one UNI — €22.69 (-0.19%):Source: Coin360.com (Daily crypto market performance)Now, let us analyze the price charts of the leading cryptocurrencies against the euro in the most noteworthy time frames.BTC/EURIn the weekly chart (1W), after the Three White Soldiers candlestick formation, BTC/EUR has formed a Shooting Star — a small bearish candlestick with a long upper shadow…