Bitcoin ETF hype fails to shake bearish $20K BTC price targets

Bitcoin (BTC) marched to 17-month highs on Oct. 24 as exchange-traded fund (ETF) excitement boosted already bullish BTC price action.

BTC/USD 1-day chart. Source: TradingViewBitcoin ETF data listing hints at “time to shine”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $35,198 on Bitstamp before consolidating.

This represented 17% gains since the prior weekly close and Bitcoin’s highest levels since May 2022.

While back below $34,000 at the time of writing, the mood around the largest cryptocurrency was distinctly optimistic as debate swirled over the potential launch of a Bitcoin spot price ETF in the United States.

Long in the making, appetite for a launch —…

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