Yesterday(10/8 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $53817, its lowest as $53610, its highest as $56297, its closing as $53976. After starting on Friday, Bitcoin went sideways, reached a low at 05:00, then rebounded sharply, reaching a high that broke $56k at 08:30, and then fell to $54k at the same speed as it rose, after that, it went sideways again and ended in a final flat.

Looking at the 4-hour chart, it broke the short term high on 10/6, but it was pushed back to the daily opening price again due to low trading volume. And it can be interpreted as a positive signal that the trading volume increased compared to the previous day while drawing a long upper tail on the daily chart. Meanwhile, as the btc dominance fell from 45.19 the previous day to 43.69, it seems that a circular buy is taking place with Ethereum which means minor altcoins is wating for their turn to come.

As a news on the cryptocurrency market, it is said that the US SEC has approved an ETF consisting of cryptocurrency-related companies such as Tesla and MicroStrategy. With this as an opportunity, anticipation that a Bitcoin ETF may be approved soon is spreading in the market, and there is an analysis that the current bull market is taking place. SEC Chairman Gary Gansler has already said that Bitcoin futures-based ETFs can be approved, and the fact that the market cap of Bitcoin is again over $1 trillion shows that the bull market is still valid.