Bitcoin ETF

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Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) saw swings near all-time highs on Nov. 19 as geopolitical tensions sparked risk-asset volatility.
<figure>
 <img alt="Bitcoin price analysis sees $94K swipe as ETF options launch arrives" src="https://s3.cointelegraph.com/uploads/2024-11/0193454c-36d8-7602-987c-f0d037f54d38" title="">
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 BTC/USD 1-hour chart. Source: TradingView
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<h2 id="btc-price-analysis-sees-94-000-liquidity-hunt">BTC price analysis sees $94,000 liquidity hunt</h2>
Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="null" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCEUR/?exchange=BINANCE" rel="null" target="null" text="null" title="null">TradingView</a> showed 2.4% daily BTC price gains returning after a brief dip at the Wall Street open.
Market fluctuations came as United States equities reacted to an escalation of the conflict between Russia and Ukraine.&nbsp;
BTC/USD did not stay lower for long, however, rebounding to $92,700 to come within $1,000 of its record highs posted on Nov. 13.
Commenting, popular trader Skew suggested that the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/why-us-spot-bitcoin-options-launch-such-a-big-deal" rel="null" target="null" text="null" title="null">impending launch of options</a> on asset manager BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) was keeping the price in a narrow corridor.
“However a key detail so far is the limit bids moving higher with LTF HLs,” he <a data-ct-non-breakable="null" href="https://x.com/52kskew/status/1858827062406246436" rel="null" target="null" text="null" title="null">wrote</a> in a post on X, referring to bid liquidity heading higher up exchange order books.
<figure>
 <img alt="Bitcoin price analysis sees $94K swipe as ETF options launch arrives" src="https://s3.cointelegraph.com/uploads/2024-11/01934548-2876-7ece-ad53-4d79a1b4df29" title="">
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 BTC liquidation heatmap (screenshot). Source: CoinGlass
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Data from monitoring resource <a data-ct-non-breakable="null" href="https://www.coinglass.com/pro/futures/LiquidationHeatMap" rel="null" target="null" text="null" title="null">CoinGlass</a>, meanwhile, confirmed that the bulk of sell-side interest lay around the existing highs, extending to $94,000.
“Large liquidation cluster at $93K+ which also corresponds with the all time high,” fellow trader Daan Crypto Trades <a data-ct-non-breakable="null" href="https://x.com/DaanCrypto/status/1858843163512758332" rel="null" target="null" text="null" title="null">added</a> on the topic.&nbsp;
<blockquote>
 “The longer price consolidates around this region, the more likely we’ll take out those highs as more and more positions keep building up.”
</blockquote>
<figure>
 <img alt="Bitcoin price analysis sees $94K swipe as ETF options launch arrives" src="https://s3.cointelegraph.com/uploads/2024-11/01934547-b84e-7091-8bea-ef0e742b3938" title="">
 <figcaption style="text-align: center;">
 Bitcoin exchange liquidation map (screenshot). Source: CoinGlass
 </figcaption>
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Trader Justin Bennett anticipated a bullish short-term outcome for the current landscape, seeing a liquidity hunt and bulls even taking a shot at $100,000.
“As for BTC, this sideways PA has attracted shorts, and with it short liquidations near $94k,” he <a data-ct-non-breakable="null" href="https://x.com/JustinBennettFX/status/1858903277590425760" rel="null" target="null" text="null" title="null">told</a> X followers.&nbsp;
<blockquote>
 “A sweep of shorts seems likely, but with Tether dominance holding that 2018 trend line, the question is, does a $94k sweep turn into a deviation, or can Bitcoin finally push toward $100k?”
</blockquote>
<figure>
 <img alt="Bitcoin price analysis sees $94K swipe as ETF options launch arrives" src="https://s3.cointelegraph.com/uploads/2024-11/01934548-b291-7c2d-a002-9410afa3ed03" title="">
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 BTC/USDT 4-hour chart. Source: Justin Bennett/X
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<h2 id="nvidia-earnings-seen-as-key-market-moment">Nvidia earnings seen as key market moment </h2>
Crypto traders also noted the incoming release of Nvidia’s corporate earnings, an event scheduled for Nov. 20, which could nonetheless spark marketwide volatility if the numbers were to surprise.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-metric-breakout-inevitable-90-btc-price-rally-next" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-metric-breakout-inevitable-90-btc-price-rally-next">Bitcoin metric breakout teases ‘inevitable’ 90% BTC price rally next</a>
“Tomorrow, the options market is implying a 12% move after earnings are released,” trading resource The Kobeissi Letter wrote in part of an <a data-ct-non-breakable="null" href="https://x.com/KobeissiLetter/status/1858903474706014660" rel="null" target="null" text="null" title="null">X summary</a> on the day.&nbsp;
<blockquote>
 “Nvidia’s earnings are HUGE.”
</blockquote>
<figure>
 <img alt="Bitcoin price analysis sees $94K swipe as ETF options launch arrives" src="https://s3.cointelegraph.com/uploads/2024-11/01934549-3db6-7ccd-8793-96622af7b4d9" title="">
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 US tech stock options premium data. Source: The Kobeissi Letter/X
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As <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/nvidia-overtakes-apple-worlds-most-valuable-company-again" rel="" target="_self" text="null" title="https://cointelegraph.com/news/nvidia-overtakes-apple-worlds-most-valuable-company-again">Cointelegraph reported</a>, in early November, Nvidia once more overtook Apple to become the world’s most valuable company.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price analysis sees $94K swipe as ETF options launch arrives

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