To confirm a potential breakout from its current crab walk, Bitcoin needs to close the week above $68,700, according to market analysts. 

Spot Bitcoin exchange-traded funds (ETFs) could see a significant liquidity boost, after the latest approval of the United States Securities and Exchange Commission (SEC).

On Oct. 18, the US SEC approved applications from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list the long-anticipated options for spot Bitcoin BTC $68,358 exchange-traded funds (ETFs).

This will make options trading available for the 11 approved Bitcoin ETF providers.

The approval could significantly bolster Bitcoin ETF inflows, according to trading firm QCP Capital, which wrote in an Oct. 19 research note:

Continued ETF inflows could help Bitcoin’s price reach a new all-time high. ETFs accounted for about 75% of new investment in the cryptocurrency by Feb. 15 as it surpassed the $50,000 mark.

Source : Here