Day: October 24, 2023

Bitcoin Spot ETF in US Inches Closer Following Closure of Grayscale vs SEC Case

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The US SEC is therefore expected to review Grayscale’s application to convert its GBTC to a spot Bitcoin ETF without prejudice. As the Bitcoin (BTC) price crossed a crucial resistance zone between $31k and 32k in the past 24 hours, the United States Securities and Exchange Commission (SEC) began its preparations to review for the second time the application by Grayscale Investments to convert its Grayscale Bitcoin Trust (GBTC) to a spot exchange-traded fund (ETF). On October 23, the United States Court of Appeals for the District of Columbia Circuit…

Analyst explains catalysts of next Bitcoin bull run

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Popular cryptocurrency analyst CryptosRUs outlined several potential catalysts for the next Bitcoin bull run in a video published on Oct. 23. He pointed to recent comments made by BlackRock CEO Larry Fink, who described cryptocurrencies like Bitcoin (BTC) as a “flight to quality” amid global uncertainty. CryptosRUs agreed with this assessment, stating that smart investors are turning to Bitcoin as a hedge against inflation and a lack of trust in governments and central banks. The prospect of the first Bitcoin spot ETF approval was highlighted as another potential catalyst. CryptosRUs…

Coinbase denies weekly $5k withdrawal limit on Bitcoin

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Cryptocurrency exchange Coinbase has denied reports that it has introduced $5,000 weekly limits on Bitcoin (BTC) withdrawals. In a post, one user X (form. Twitter) claimed he had encountered a limitation on withdrawing Bitcoin from Coinbase. The limit was $5,000 per week. The post received over 250,000 views, over 420 retweets, and almost 2,000 likes. It also caught the attention of cryptocurrency researcher Chris Black, who asked if anyone could verify the claim made. . @Coinbase is limiting bitcoin withdrawls. I just tried to send BTC from Coinbase to my cold…

4th Consecutive Week Nets $66 Million

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The digital assets markets experienced a consecutive fourth week of inflows from institutional investors. CoinShares data shows that a portion of the momentum observed can be attributed to an increasing expectation for the authorization of a spot Bitcoin Exchange-Traded Fund (ETF) in the United States. The aggregate value of assets under management (AuM) has experienced a notable surge, reaching $33 billion, denoting a 15% growth rate since the beginning of September. Nevertheless, investors are displaying a greater degree of prudence compared to their response to Blackrock’s announcement in June. The latest…

Stablecoin market escaping US regulatory oversight: Chainalysis

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The United States government may be losing regulatory oversight of the stablecoin market, according to a new report by blockchain research firm Chainalysis. Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, Chainalysis stated in its latest North America cryptocurrency report released on Oct. 23. According to Chainalysis’ findings, the majority of stablecoin inflows to the 50 biggest cryptocurrency services have shifted from U.S.-licensed services to non-U.S.-licensed services since spring 2023. As of June 2023, about 55% of stablecoin inflows to the top 50…

God Candle Coming For XRP Price? Analyst Reveals His Target

The XRP price has experienced a strong upswing along with the entire crypto market in the past few hours. XRP has temporarily risen by more than 5%, approaching a crucial resistance zone that if broken could trigger a strong and impulsive “god candle”. Renowned crypto analyst Egrag unveiled his latest technical analysis on XRP’s price trajectory, sparking excitement within the crypto community. Using the 3-day XRP/USDT price chart, Egrag brings attention to several pivotal moments and trends.”XRP Gods Candle, it is coming, tweeted Egrag. The “Berlin Wall” Of Resistance For…

Bitcoin ETF hype fails to shake bearish $20K BTC price targets

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Bitcoin (BTC) marched to 17-month highs on Oct. 24 as exchange-traded fund (ETF) excitement boosted already bullish BTC price action. BTC/USD 1-day chart. Source: TradingView Bitcoin ETF data listing hints at “time to shine” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $35,198 on Bitstamp before consolidating. This represented 17% gains since the prior weekly close and Bitcoin’s highest levels since May 2022. While back below $34,000 at the time of writing, the mood around the largest cryptocurrency was distinctly optimistic as debate swirled over the potential launch…

Whale moves 1.6m worth of Solana as asset hits top trending list

A Solana (SOL) whale recently moved 1.6 million tokens as the asset slips into the list of trending crypto assets amid a massive 52% increase over the past 30 days. According to whale-tracking platform Whale Alert, the funds were worth $50.39 million at the time of the movement. On-chain data confirms that the transaction occurred today at 06:01 (UTC) and involved two unidentified Solana wallets. The transfer has triggered mixed reactions, especially considering the limited information surrounding it. While some market watchers posit it could signify an attempt at selloff…