Bitcoin News Today: Altcoin ETFs and Regulators Challenge Bitcoin's Bull Case in Shifting Crypto Landscape

Bitcoin's bull run faces mounting scrutiny as institutional adoption shifts toward altcoins and regulatory actions intensify, despite a 56% year-to-date decline in transaction fees. The cryptocurrency's price hovered near $108,000 as analysts debated the sustainability of recent gains, with Ethereum (ETH) and emerging tokenized assets drawing fresh capital flows.

The U.S. Securities and Exchange Commission's (SEC) receipt of five new altcoin ETF applications in October signals a potential next phase of institutional buying, according to Investorempires. Market analysts argue that Ethereum ETFs have already outpaced Bitcoin ETFs in Q3 inflows, with $9.6 billion versus $8.7 billion. This trend, driven by regulatory confidence, could unlock years of sustained capital inflows for altcoins, according to Leon Wideman of Web3 Onchain. Smart money traders are also building positions in tokens like Uniswap (UNI) and Chainlink (LINK), further underscoring the sector's appeal.

Not all are optimistic. Peter Schiff, a vocal critic of Bitcoin's dominance, labeled Strategy's (formerly MicroStrategy) Q3 earnings report a "fraud," accusing the firm of relying on unrealized gains from its $47.44 billion Bitcoin portfolio, in an Investorempires report. Strategy's CEO, Michael Saylor, countered with Saylor's forecast that Bitcoin could reach $150,000 by year-end, citing regulatory shifts and growing institutional demand. Saylor's bullish stance contrasts sharply with Schiff's skepticism, highlighting the divide between Bitcoin maximalists and traditional financial skeptics.

Regulatory actions continue to shape the landscape. Singapore's authorities froze $150 million in assets linked to an alleged Bitcoin fraud kingpin, according to a CryptoNews report. Meanwhile, BlackRock's absence from the altcoin ETF space has dampened expectations for massive inflows, with Bitcoin ETFs recording $1.27 billion in net outflows YTD despite the firm's $28.1 billion Bitcoin fund, a point raised in earlier coverage of altcoin ETF dynamics.

Bitcoin's price action has shown signs of bearish pressure, dropping below $108,000 amid a 3.5% decline from recent highs, according to an FXStreet price forecast. Analysts note that the fourth quarter historically favors Bitcoin, with an average 78.41% return, but current momentum appears tempered. The Relative Strength Index (RSI) at 41 and a contracting MACD histogram suggest fading bullish momentum. Ki Young Ju of CryptoQuant warned that Bitcoin's recovery hinges on renewed buying from ETFs and corporate treasuries like Strategy's November buy, a move detailed in coverage of Strategy's purchases.

Bitcoin miners are pivoting to AI infrastructure, with IREN securing a $9.7 billion contract with Microsoft to deploy NVIDIA GB300 GPUs. The deal, part of a broader industry trend, underscores how miners are leveraging their power and data center assets to diversify revenue streams. Similarly, HIVE Digital Technologies expanded its mining capacity to 23 exahashes per second, supported by renewable energy and AI-driven operations.

Bitcoin's path forward remains uncertain, balancing institutional optimism, regulatory scrutiny, and technical headwinds. While Saylor's $150,000 price target and Ethereum's ETF success offer hope, Schiff's criticisms and BlackRock's absence highlight structural challenges. As altcoin ETFs gain traction and miners pivot to AI, the crypto market's next chapter will likely hinge on regulatory clarity and sustained capital inflows.