Day: January 8, 2024

Crypto Analyst Identifies XRP Bear Flag To Trigger A Massive Crash To $0.07

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XRP, like the rest of the crypto market, is seeing an active retrace that has sent prices back toward levels not seen since last year. As anticipation around a potential Bitcoin Spot ETF approval builds up for this week, expectations are that this retrace will be short-lived. However, not everyone is bullish on a potential recovery as one crypto analyst expects the price of the altcoin to see a massive crash going forward. XRP Massive Bear Flag Appears Crypto analyst Bitgolder took to TradingView to share an extremely bearish analysis…

Bitcoin Correlation To Nasdaq Continues To Be Negative: What It Means

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Data shows the Bitcoin correlation to the Nasdaq has continued to be negative since December. Here’s what this means for the cryptocurrency. Bitcoin 60-Day Correlation To Nasdaq 100 Is Negative Right Now In a new post on X, the analytics firm Kaiko has discussed what the trend in the correlation between BTC and Nasdaq has looked like recently. The “correlation” here refers to a metric that keeps track of how tied together the prices of two commodities have been over a given period. This period can naturally be of any length,…

CNBC foresees immediate spot Bitcoin ETF trading if approved Wednesday

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CNBC predicts spot Bitcoin ETF approval by the U.S. SEC this week, followed by immediate trading the following business day. Spot Bitcoin ETFs are on the cusp of a decision from the U.S. Securities and Exchange Commission (SEC), with potential trading activities expected to commence by the end of this week. The anticipated approval date, slated for Wednesday, is pivotal for many applicants eagerly seeking a green light to enter the burgeoning market. According to CNBC correspondent Kate Rooney, reliable sources affirm the likelihood of spot Bitcoin ETFs securing approval…

Forbes Says Spot Bitcoin ETF Approval Will Send BTC Price To $80,000

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Global media company Forbes has published a column predicting a staggering $80,000 price surge for Bitcoin following the approval of Spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). Bitcoin To Rise $80,000 American business magazine and global media company Forbes has recently released a report emphasizing the massive impact the approval of a Spot Bitcoin ETF would have on the price of BTC. According to the publication, the price of Bitcoin could surge as high as $80,000 by the end of 2024.  The analysis was disclosed…

Standard Chartered makes bold predictions for market after Bitcoin ETF approval

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Standard Chartered Bank anticipates a substantial influx of $50 to $100 billion into Bitcoin after approving spot ETFs, with industry experts speculating a decision by this week. Standard Chartered Bank recently made a noteworthy prediction regarding Bitcoin, foreseeing a substantial influx of $50 to $100 billion in spot ETF inflows upon approval of the investment product, expected in 2024. The international banking giant’s forecast is based on the anticipation surrounding more than a dozen spot Bitcoin ETF applications currently under consideration by the U.S. Securities and Exchange Commission (SEC). JUST…

Bitcoin reaches $47k as trading volume soares nearly 120%

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Bitcoin has reached $47,000 for the first time in over 20 months, as several reports claim ETF approval will happen this week. Earlier today, Bitcoin reached $45,000, its highest since May 2022, when the market collapsed following Terraform Lab’s UST and LUNA crash. However, Bitcoin’s rally continues, as it reached $47,000 at the time of writing, recording a nearly 6% rise in 24 hours.  At the same time, BTC trading volume is also soaring across all major exchanges. According to CoinMarketCap, BTC’s daily trading volume has increased by over 120%…

Was Solana A Q4 2023 “Bubble” That Has Popped?

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The crypto market has recently been a roller coaster, especially in H2 2023. Solana, a high-throughput blockchain, emerged as one of the best performers in the top 10 coins by market cap. In Q4 2023, Solana soared, reaching highs of around $125 before cooling off to spot rates. However, some think the uptrend is over, with SOL edging lower under increasing liquidation pressure. The Solana Bubble Has Popped, Is This True? Lido.eth, while taking to X on January 7, said Solana is a “Q4 2023 bubble” that has “already popped.” The…

Bitcoin Price Breaks Through $47,000, Bullish Sentiment Builds With Anticipation Of ETF Approval

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With the Bitcoin price soaring to new highs, the cryptocurrency community is excitedly buzzing as all signs point towards an imminent approval of the highly anticipated Bitcoin Exchange-Traded Fund (ETF) applications.  This positive sentiment has propelled the Bitcoin price past the $47,100 mark, reaching levels not seen since April 2022 and inching closer to the coveted $50,000 milestone and its all-time high (ATH) of $69,000. SEC Fast-Tracks Bitcoin ETF Review Earlier this morning, several prominent players in the financial industry submitted their final registration of securities amendments for a Spot…

Bitcoin Price Tops $47K, Could Rally 10-15% More if Spot BTC ETF Approved: LMAX Strategist

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Bitcoin ETFs: The Bear Case

Because bitcoin is decentralized, there isn’t a single price of bitcoin. Instead, its dollar value is often calculated by averaging the current going price of bitcoin on a few trusted exchanges. However, even on established exchanges, it’s not unheard of for investors to drive crypto prices up or down deliberately or accidentally with large trades, opening arbitrage opportunities. Source