Coinbase Announces New Altcoin Listing While Bitcoin Struggles

This week, many cryptocurrencies received positive news, with Bitcoin (BTC) $108,932 climbing to the threshold of $73,777 in an attempt for a new all-time high (ATH). However, it did not surpass this peak. The potential impact of significant announcements expected from altcoins was consequently limited, similar to today’s announcement from Coinbase.

Altcoin Listing Announcement

At the time of writing, Bitcoin is fighting to further lower its daily bottom, having dropped to $70,355, with buyers stepping in at around $70,600. The negative sentiment in the U.S. markets, compounded by today’s PCE data, has dampened spirits. Additionally, with just a short time until the results of the November elections, recent polls suggest a lower likelihood of a Trump win, which does not bode well for the short-term outlook for cryptocurrencies.

On the other hand, Coinbase Global announced it would launch a new futures trading pair. Had Bitcoin not experienced such a drop in recent hours, the listing announcement for NEIRO Coin could have resulted in double-digit gains.

With the excitement surrounding the listing set for November 7, the price has only increased by 3%. The pricing as the listing date approaches may be dependent on overall market sentiment.