Cutoshi – the New Ethereum Meme Coin Making Waves Across the Market

With the latest market turbulence, investors are migrating to popular upcoming projects with great potential. Cutoshi is a project inspired by the traditional

Bitcoin price declined heavily in the past 24 hours, as over $240 million in Bitcoin was pulled out of ETFs on Friday, October 1.

According to data from Sosovalue, a total of 2,000 BTC was withdrawn from the Purpose Bitcoin ETF (NYSE:BTCC) and the ProShares Bitcoin Strategy ETF (NYSE:BITI) on Friday.

The withdrawals come as both ETFs are set to begin trading next week, following their approval by the U.S. Securities and Exchange Commission (SEC) last week.

Bitcoin price dropped nearly 3% over the past 24 hours, and was trading at $60,636 at the time of writing, according to CoinMarketCap data.

The coin was, however, still up over 100% year-to-date.

Bitcoin price struggles to breach $65K resistance

Bitcoin price faced a strong resistance at the $65,000 level over the past week, and failed to breach the key price mark.

The failure to breach the resistance level comes despite a rally that saw the coin rally past the $60,000 level earlier in the week.

Technical analysis from Tradingview showed a neutral market sentiment for Bitcoin, with the Fear and Greed index showing 42 (Fear).

After failing to breach the $65K resistance, Bitcoin price faced a setback as it struggled to hold the $61K support level.

However, BTC was still trading above the 50-day SMA, with Coincodex projecting a rise to $86K in the coming months.

According to Ali Martinez on X, traders were largely buying the dip to capitalize on Bitcoin price, with over 60% opening long positions on Binance.

CoinMarketCap data showed that Bitcoin whales had purchased over 50,000 BTC, valued at about $3.15 billion, over the past week.

Analysts are projecting a massive growth for Bitcoin price in the coming weeks, with signs of a resurgence that could see the coin hit $70k in October.

Best coins to buy in October

While October began on a positive note, things are quickly changing direction with Bitcoin price failing to take the lead.

With BTC price facing a strong battle at the $65K price mark, Cutoshi could be presenting a good alternative.

The new project is already turning heads, with experts projecting a huge price rise for the CUTO token before its listing.

For more information on the Cutoshi (CUTO) Presale: Visit the Cutoshi Website

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