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Bitcoin ETF requests, miners' sell pressure, and regulatory hurdles create uncertainty for the $31,000 BTC price resistance. The $4.7 billion Bitcoin (BTC) monthly options expiry on June 30 might play a decisive role in determining whether the $30,000 price will consolidate as long-term support and open room for further bullish momentum. Why is Bitcoin breaking yearly highs? Many analysts consider Bitcoin's recent breakout above $27,000 a bet on the multiple spot Bitcoin exchange-traded fund (ETF) request applications, including those of BlackRock and ARK Invest. The news also fueled expectations for Grayscale to be able to convert its Grayscale Bitcoin Trust (GBTC) to a Bitcoin ETF.  $31,000 caps Bitcoin price gains for now On the other hand, Bitcoin bears will try to take advantage of macroeconomic and regulatory headwinds, including exchanges implementing mandatory Know Your Customer (KYC) procedures. On June 28, KuCoin announced the upcoming KYC system upgrade in a move to...

Bitcoin bulls fail to get a grip despite worries over U.S. banking sector stability, with BTC price near 4-day lows. Bitcoin (BTC) headed toward $28,000 support after the May 1 Wall Street open as markets digested fresh United States banking jitters. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Suspicions mount over First Republic contagion Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to multi-day lows at the time of writing. The pair continued a comedown which began after the weekly and monthly candle close, shedding over $1,000 since that time. The start of the week saw a potential volatility catalyst during Asia trading as First Republic Bank was sold to JPMorgan Chase by the U.S. government. Amid suspicions over the legitimacy of the move, First Republic became the second-largest bank failure in U.S. history. Bitcoin showed little interest in mimicking its reaction to the start of the banking crisis in March, instead tracking lower des...