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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...

Cointelegraph analyst and writer Marcel Pechman explains how the U.S. Dollar Index (DXY) impacts cryptocurrencies. The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity. In the show’s inaugural episode airing today, Pechman discusses the impact of the U.S. Dollar Index (DXY) on crypto currencies and how the inflation-protected bonds exchange-traded fund (ETF) provides a much better estimate of traditional markets’ demand for fixed income. Viewers will learn how a strong United States Dollar is not necessarily positive for the U.S., what is an inverse correlation, and why analysts believe a more robust DXY is inherently bearish for crypto currencies.  The analyst invites viewers to experiment with the Treasury Inflation-Protected Securities (TIPS) ET...