Altcoin season in play as Ethereum plays catchup

15 Oct 2021

SGT 0815
📉 BTC | $57,320 (-$126, -0.2%)
📈 ETH | $3,783 (+$169, +4.7%)
📈 XRP | $1.13 (+$0.00, +0.1%)
📈 LTC | $180 (+$2, +1.3%)

📈 Total Crypto Market Cap: $2.38T (+0.6%)

🔎 The ETH/BTC pairing is seeing Ethereum narrow its underperformance against Bitcoin, with such periods typically seeing extended outperformance in Ethereum during breakouts. Many will however be watching how Bitcoin performs this month should Bitcoin ETFs be approved by the SEC, with the community somewhat split over its effect on Bitcoin’s price.

👨‍⚖️ While the SEC has not announced its decision over four Bitcoin ETFs (due this month), they have been accepting ETFs tracking companies that have large Bitcoin holdings (the Volt Crypto Industry Revolution and Tech ETF), raising sentiment in Bitcoin. While not the same, many do see this as a step towards an eventual Bitcoin ETF.

🏘 The second-largest mortgage provider in the USA has opted to not extend a six-week pilot programme of accepting cryptocurrencies as payment for home loans, citing “regulatory uncertainty” and “incremental costs”. CNBC reported that during this period, only six homeowners took up crypto as a payment mechanism.


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