The day crypto traders accept long-awaited is almost hither. At the opening bell on October. 19, a ProShares futures-based Bitcoin (BTC) exchange-traded fund (ETF) is scheduled to launch, and analysts are predicting that additional ETFs will roll out over the coming calendar week.

Information from Cointelegraph Markets Pro and TradingView shows that an early-morning attempt by bears to drop the price back below $sixty,000 was well-dedicated by traders, and at the fourth dimension of writing, there is a tug of war at the $61,000–$62,000 zone.

BTC/USDT ane-day chart. Source: TradingView

While many take predicted that the ETF launch is the fuel needed to push button BTC to the $100,000 marking, not all analysts hold, and some warn that this could be another "buy the rumor, sell the news" event.

A college depression would exist "normal" price action

Ane trader who is not completely enamored with the idea of a BTC futures ETF is pseudonymous Twitter user Weep me a $Coin, who posted the post-obit tweet suggesting that BTC's recent price activity is merely function of a normal price bicycle.

According to the cost path outlined in the chart above, in that location's a chance that Bitcoin tops out beneath $68,000 in the side by side few months before heading lower to establish a higher low almost $46,000.

A like sentiment was expressed by Ryan Cantering Clark, who suggested that upwards to now, "the trade has been 'long ETF approval' and we are hither, so what else in the brusque term takes us much higher?"

Clark said:

"Everyone knows where this is going, then in the brusque term I call back we get a deeper pullback."

FOMO buyers beware

A deeper analysis of what could peradventure come up next was provided by David Lifchitz, managing partner and master investment officer of ExoAlpha. Lifchitz suggested that a pocket-size pullback might exist in order, "especially after the torrid run from $40,000 just 2 weeks agone," which translated into a BTC increase of 50%.

While Lifchitz suggested that "the medium-term looks definitely higher," the analyst offered a word of circumspection for potential buyers, saying, "These Bitcoin ETFs based on CME futures to track BTC price volition underperform Bitcoin spot price due to ongoing futures coil costs."

Co-ordinate to Lifchitz, professional person traders are likely to keep using Bitcoin CME futures or crypto derivative exchanges for their trading needs, while "long-time crypto investors are all well equipped to direct trade and shop Bitcoin spot."

Lifchitz said:

"Then these ETFs will probable be an easy Bitcoin access to unsophisticated retail investors with their broker accounts, who volition non get the full return of BTC after all fees are accounted for. These ETFs will also bring arbitrage opportunities for smart traders. Wall Street at its all-time."

Related: Bitcoin RSI strength suggests BTC price is still far from its cycle superlative

$90K BTC price if the classic cup and handle germination plays out

A final scenario to be on the spotter for was offered past pseudonymous Twitter user Nunya Bizniz, who posted the following tweet outlining a bullish scenario for Bitcoin'south toll action.

As seen in the nautical chart provided, the analyst suggested that BTC'south price has the potential to drop back to the $53,000 support in the near term before resuming its uptrend.

The trader believes that after the toll pulls back to bear upon underlying support, BTC could and so squeeze up to $98,000.

BTC/USD 1-day nautical chart. Source: Twitter

The overall cryptocurrency market place capitalization now stands at $2.463 trillion, and Bitcoin'south dominance rate is 47.three%.

The views and opinions expressed here are solely those of the author and do non necessarily reverberate the views of Cointelegraph.com. Every investment and trading move involves take chances, you should conduct your own inquiry when making a conclusion.