OpenAI Pentagon AI Contract Adds Safeguards Amid Anthropic Dispute 
xAI’s Grok Secures Pentagon Deal for Classified Military AI Systems Amid Anthropic Dispute 
Microsoft Gaming Leadership Shake-Up: Phil Spencer Retires, Asha Sharma Named New Xbox CEO 
FedEx Faces Class Action Lawsuit Over Tariff Refunds After Supreme Court Ruling 
Apple to Begin Mac Mini Production in Texas Amid $600 Billion U.S. Investment Plan 
Paramount Skydance to Acquire Warner Bros Discovery in $110 Billion Media Mega-Deal 
Nvidia Earnings Beat Expectations as AI Demand Surges, Stock Rises on Strong Revenue Outlook 
Panama Investigates CK Hutchison’s Port Unit After Court Voids Canal Contracts 
Meta Signs Multi-Billion Dollar AI Chip Deal With Google to Power Next-Gen AI Models 
FxWirePro- Major Crypto levels and bias summary 
Hyundai Motor Plans Multibillion-Dollar Investment in Robotics, AI and Hydrogen in South Korea 
Hyundai Motor Group to Invest $6.26 Billion in AI Data Center, Robotics and Renewable Energy Projects in South Korea 
Trump Orders Federal Agencies to Halt Use of Anthropic AI Technology 
FxWirePro- Major Crypto levels and bias summary 
The SEC's surprise approval of Bitcoin ETF options for trading on the NYSE and CBOE is expected to ignite a wave of liquidity. Analysts predict significant institutional inflows that could push Bitcoin prices to record levels.
SEC Approval Boosts Bitcoin ETF Liquidity Prospects
Recent approval from the US Securities and Exchange Commission (SEC) could greatly increase the liquidity of spot Bitcoin exchange-traded funds (ETFs).
The US Securities and Exchange Commission (SEC) greenlit the NYSE and CBOE's long-awaited plans to launch spot Bitcoin exchange-traded funds (ETFs) on October 18.
SEC Gives Green Light to Bitcoin ETF Options
The eleven Bitcoin ETF providers who have been approved will now be able to trade options, Cointelegraph reports.
Trading firm QCP Capital stated in a research report dated October 19 that the approval might greatly increase Bitcoin ETF inflows:
“The consistent inflows into the ETF highlight that institutional demand remains strong. With this morning’s approval by the SEC’s approval for BTC ETF options to be listed on the NYSE, we believe this will provide the ETF with the needed liquidity to attract sustainable inflows.”
Bitcoin Price Could Surge with ETF Inflows
The price of Bitcoin might hit a new record high if ETF inflows continue. By February 15th, when the cryptocurrency had exceeded the $50,000 milestone, exchange-traded funds (ETFs) had absorbed about 75% of the fresh investment.
Upcoming US Elections to Influence Bitcoin and Risky Assets
Bitcoin and other risky assets may see a dramatic increase in investor interest in the next US presidential elections in 2024.
According to QCP Capital, this will assist risk-on assets in preparing for the election by causing them to rally:
“With US equities close to all-time highs and the Japanese yen on a fresh weakening trend, risk-on sentiment will only grow stronger as we approach the US election. This will propel risk assets higher and support our Uptober narrative.”
Market Anticipates US Election's Impact on Bitcoin
In fewer than three weeks, the United States will hold its election, and market players are getting ready for it. Cointelegraph stated that on October 16th, the odds of former president Donald Trump winning the presidential elections on Polymarket reached a new high of 60.2%.
Bitcoin Eyes Breakout as Analyst Predicts $68,700 Close
Bitcoin needs to end the week over $68,700 to signal a possible breakout from its current crab walk, according to popular crypto analyst Rekt Capital.
In a post on October 18th, the analyst stated:
Positive ETF Inflows Supporting Bitcoin’s Growth
The favorable ETF inflows this week could provide support for a possible breakout. Within the first ten months of their release, Bitcoin ETFs saw total net flows reach $20 billion on October 17th.
Alternatively, the same $20 billion mark was not reached by gold-based ETFs for nearly five years.
