The post BONK price prediction – Will the ETP hype finally spark a breakout? appeared on BitcoinEthereumNews.com. Key Takeaways How will BONK ETP affect price action? If the BONK ETP hype is substantial, trading activity could increase, leading to a breakout. Can big whale orders stretch the gains? Since the big whales were bullish, any breakout could be amplified, propelled by their existing positions. Bitcoin Capital, an issuer of exchange-traded products (ETP) and holder of the associated cryptocurrencies for the SIX Exchange in Switzerland, will launch BONK ETP. The debut will be on 27 November, where EU investors will get 1:1 exposure to the memecoin. The launch of the BONK ETP will attract more trading activity in the memecoin with the inclusion of EU investors. That way, volume may be anticipated to spike, even though there is no assurance of the same. ETP hype to the rescue? An update like this would invite more activity into the memecoin as it nears a breakout after consolidating for more than four months. Its massive falling wedge pattern was a retracement from a rally that started at the same zone BONK is now trading in. The altcoin season, which lasted up until August for most cryptos, drove this BONK rally. However, BONK fell by about 10% in the last 24 hours, aligning with the broader market weakness. This saw Bitcoin (BTC) dip below $85,000. The daily volume, however, climbed as figures for the same hit $200 million. Source: TradingView This weakness was reflected in the Bull Bear Power (BBP), which showed sellers were in control – Extending market weakness. However, the strength of sellers was not as strong as one in mid-October, suggesting a looming shift in sentiments. The BONK ETP hype could power this pattern into a breakout if it attracts more volume. The downside of it was pulling more bear capital than that of bulls. Usually, retail traders… The post BONK price prediction – Will the ETP hype finally spark a breakout? appeared on BitcoinEthereumNews.com. Key Takeaways How will BONK ETP affect price action? If the BONK ETP hype is substantial, trading activity could increase, leading to a breakout. Can big whale orders stretch the gains? Since the big whales were bullish, any breakout could be amplified, propelled by their existing positions. Bitcoin Capital, an issuer of exchange-traded products (ETP) and holder of the associated cryptocurrencies for the SIX Exchange in Switzerland, will launch BONK ETP. The debut will be on 27 November, where EU investors will get 1:1 exposure to the memecoin. The launch of the BONK ETP will attract more trading activity in the memecoin with the inclusion of EU investors. That way, volume may be anticipated to spike, even though there is no assurance of the same. ETP hype to the rescue? An update like this would invite more activity into the memecoin as it nears a breakout after consolidating for more than four months. Its massive falling wedge pattern was a retracement from a rally that started at the same zone BONK is now trading in. The altcoin season, which lasted up until August for most cryptos, drove this BONK rally. However, BONK fell by about 10% in the last 24 hours, aligning with the broader market weakness. This saw Bitcoin (BTC) dip below $85,000. The daily volume, however, climbed as figures for the same hit $200 million. Source: TradingView This weakness was reflected in the Bull Bear Power (BBP), which showed sellers were in control – Extending market weakness. However, the strength of sellers was not as strong as one in mid-October, suggesting a looming shift in sentiments. The BONK ETP hype could power this pattern into a breakout if it attracts more volume. The downside of it was pulling more bear capital than that of bulls. Usually, retail traders…