Bitcoin Quietly Reaches a Huge Milestone
The United States's oldest bank -- Bank of New York MellonCorp. -- announced last week that it will hold, transfer, and issue bitcoin and other cryptocurrencies on behalf of its asset management clients. This announcement marks a huge milestone for bitcoin, pushing it into the Wall Street mainstream.
Prior to this announcement, many readers know that buying cryptocurrency meant working with a non-traditional custodian, like Coinbase. For giant custodians like BNY Mellon and Fidelity, this meant have some client assets custodied elsewhere. With an increasing number of institutional and retail investors flocking to bitcoin and other cryptocurrencies, it made sense for BNY Mellon to step-in and try to take some market share.
The move to have bitcoin and select other cryptocurrencies custodied at BNY Mellon means developing a new platform, which is currently in beta. Otherwise, the digital assets would pass through the same 'plumbing,' and have the same security and insurance, as traditional holdings like stocks and U.S. Treasuries.
Cryptocurrencies by their very nature are hardly eager to enter the mainstream -- after all, they were invented as a means to circumvent archaic and outdated systems of fiat currencies and traditional contracts. However, with announcement's like BNY Mellon's, bitcoin and other cryptos take a step closer to becoming widely accepted as legitimate, which is a key step to longevity and ultimately, higher prices.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BTC.X sees its 50-day moving average cross bullishly above its 200-day moving average
The 50-day moving average for BTC.X moved above the 200-day moving average on September 08, 2026. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 03, 2026. You may want to consider a long position or call options on BTC.X as a result. In 42 of 145 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 29%.
Following a +2.35% 3-day Advance, the price is estimated to grow further. Considering data from situations where BTC.X advanced for three days, in 124 of 424 cases, the price rose further within the following month. The odds of a continued upward trend are 29%.
The Aroon Indicator entered an Uptrend today. In 113 of 380 cases where BTC.X Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 30%.
Bearish Trend Analysis
The 10-day RSI Indicator for BTC.X moved out of overbought territory on October 05, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 44 similar instances where the indicator moved out of overbought territory. In 11 of the 44 cases, the stock moved lower in the following days. This puts the odds of a move lower at 25%.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 24 of 92 cases where BTC.X's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 26%.
The Moving Average Convergence Divergence Histogram (MACD) for BTC.X turned negative on September 29, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 66 similar instances when the indicator turned negative. In 16 of the 66 cases the stock turned lower in the days that followed. This puts the odds of success at 24%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BTC.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 30%.
BTC.X broke above its upper Bollinger Band on September 21, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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