Author: Umar Hashmi
Despite a recent uptrend, Bitcoin’s price consolidation is expected to continue, with a key breakout point at $71,500 looming. Bitcoin shows signs of continued consolidation, with a potential breakout if it closes above $71,500. Historical patterns and strong holder sentiment suggest a bullish future for BTC. Bitcoin [BTC] has experienced a significant uptrend over the past week, with a price surge of approximately 12.8%. The rise was spurred by factors such as the anticipation of a spot Ethereum [ETH] ETF and Donald Trump’s recent acceptance of Bitcoin for election donations. Despite this rise, the cryptocurrency has encountered a slight downturn in the last 24…
Schiff suggests that ETH ETF approval could shift funds from Bitcoin. Is it likely? chiff’s remarks come amid Bitcoin’s brief move above $70k. Bitcoin spot ETFs attract significant institutional investment despite the concerns. As the world awaits the approval of an Ethereum [ETH] spot exchange-traded fund (ETF), prominent Bitcoin critic Peter Schiff has taken the opportunity to attack Bitcoin [BTC]. Schiff sees an upcoming bearish trend for BTC In a 21st May post on X (formerly Twitter), Schiff suggested that Bitcoin could become bearish if the Ethereum spot ETF is approved. He said, “#Bitcoin gained renewed strength from rumors that an #Ethereum ETF will likely be approved. But…
Ethereum co-founder Jeffrey Wilcke sells his ETH holdings amidst regulatory concerns. Ethereum’s price surged nearly 30%, coinciding with significant SEC regulatory updates. Co-founder Jeffrey Wilcke capitalized on the rally by depositing over $75 million worth of ETH into Kraken. The cryptocurrency market has been buzzing with Ethereum’s [ETH] recent price surge. The asset witnessed a nearly 30% increase in value over the past week, escalating from below $3,000 as of this time last week to as high as $3,810 yesterday. This uptick coincided with significant regulatory movements. Notably, the U.S. Securities and Exchange Commission (SEC) has so far revised its stance on…
U.S. regulators approved listing spot ETH ETFs but have not yet cleared to trade. Crypto prices endured wild swings on Thursday as traders anxiously awaited a U.S. regulatory decision to list spot-based ether exchange-traded funds. Within a nerve-wracking hour leading up to the eventual approval, ETH first tumbled to $3,500 at around U.S. traditional market closing time, then surged to near $3,900 as the first unconfirmed reports of an approval appeared to eventually settle above $3,800 following the confirmation. Bitcoin (BTC) saw a similarly hectic episode sinking to the low-$66,000s, then spiking to $68,300 before paring gains below $68,000. However, ETH performed…
The crypto industry is expecting Ethereum ETFs to be approved Thursday. Investors anticipate a rally like the one following the rollout of Bitcoin ETFs. Ethereum ETFs pose new challenges for crypto exchanges. Institutional investors are ready to pour $500 million into Ethereum ETFs over the next week if they are approved Thursday, according to analysis by OKX, the crypto exchange. “It’s probably just as, if not more, important as the Bitcoin ETF approval,” Lennix Lai, OKX’s global chief commercial officer, told DL News. “The potential approval of Ethereum to be traded as a proxy under a traditional framework could bring about the…
Jan Nieuwenhuijs, a gold market analyst, has assessed the state of the gold market, reporting that growing demand from both the private market and the People’s Bank of China (PBOC) has been instrumental in the rise of gold prices. Chinese private investors purchased 543 tonnes during Q1, while the PBOC acquired 189. China Continues Propping Gold Prices up With Private and Central Bank Demand The influence of China in the gold market has been instrumental in propping and supporting current price levels, according to Jan Nieuwenhuijs, a gold market analyst specializing in the Chinese gold market dynamics. Nieuwenhuijs determined that…
BlackRock, Bitwise and Grayscale join fellow issuers in submitting amended spot ETH ETF 19b-4s filings on Wednesday. SEC has begun discussions on S-1s filings as they may be delayed by a few weeks before approval. Ethereum bulls appear to be conserving strength for next leg up as they await SEC approval. Ethereum (ETH) is trading sideways on Wednesday as BlackRock, Bitwise and Grayscale submitted their amended 19b-4s filings to the Securities & Exchange Commission (SEC). The agency has also begun conversations with issuers on S-1s applications. Daily digest market movers: Nearly all issuers have submitted amended filings Ethereum is trending…
$ETH ETF Approval? https://www.youtube.com/watch?v=eWbfiDdBvvk
Significant trading activity has trailed Ethereum in the past 24 hours as it attempts to reclaim the $3700 price level. ETH now trades at a two-month high. The number of short positions liquidated on 20th May represented the coin’s single-day highest since the beginning of the year. Ethereum [ETH] has rallied to a two-month high after Bloomberg analysts increased the odds of the Ethereum Exchange Traded Fund’s (ETF) successful launch. In a post on X (formerly Twitter) on 20th May, Eric Balchunas, a senior analyst at Bloomberg, raised the approval odds for the Ethereum exchange-traded fund (ETF) from 25% to 75%. Balchunas posted…
The coin’s recovery aligns with positive shifts in ETF contributions and renewed optimism. Is more on the way? Bitcoin price hit $71,000, leading the market to hit a fear and greed index of 76. The liquidation heatmap pinpointed $76.900 as the next target for BTC. Bitcoin’s [BTC] price hit $71,000 for the first time in almost 40 days, bringing optimism back to the market. Beyond the metrics mentioned in that article, there were other reasons BTC recovered. First on the register were the ETFs. For those unfamiliar, a Bitcoin ETF is not the same as BTC. It, however, suggests that…