January 11, 2024

Bitcoin ETF Approval Triggers $1.2 Billion Trading Volume And New Highs For BTC Price

January 11, 2024 boss

In a highly anticipated move, the United States Securities and Exchange Commission (SEC) approved all 11 Bitcoin ETF applications, and the market response has been nothing short of remarkable. The approval has led to significant trading volume and propelled Bitcoin to a new 22-month high. Within minutes of the Bitcoin ETFs going live, Bitcoin surged over 8% to reach $48,400, representing a new record since the end of the crypto bear market. The early price movement aligns with the predictions made by the majority of experts in the crypto industry.…

Bitcoin ETF Approval Is Historic Moment for BTC, Miners: Analysts

January 11, 2024 boss

“With levered upside and theoretical hedged downside, we believe bitcoin miners represent an attractive investment opportunity for equity investors looking for a way to access this long-term bitcoin adoption trade,” the authors wrote, adding that the spot ETFs could have a “substantial positive impact on bitcoin miner valuations.” Original

Bitfinity allocates $7m to create Bitcoin sidechain on Internet Computer

January 11, 2024 boss

Bitfinity Network has raised $7 million from Polychain Capital and ParaFi Capital to establish off-chain infrastructure for Bitcoin and Ordinals. In a press release shared with crypto.news, Bitfinity said the proceeds will help it develop a Bitcoin sidechain on the Internet Computer blockchain called the Bitfinity Ethereum Virtual Machine (EVM). With the new solutions, blockchain developers could build Bitcoin-enabled decentralized apps on Internet Computer using Solidity programming language. Max Chamberlin, the founder of Bitfinity, highlighted that the Bitfinity EVM, audited by Quantstamp, will facilitate the deployment of decentralized applications “with…

GBTC, IBIT Top Bitcoin (BTC) ETF Volume Ranking as Products Debut

January 11, 2024 boss

While Grayscale’s GBTC led, this is likely due to existing investors selling shares, Bloomberg analyst Eric Balchunas explained in an X post. GBTC, introduced in 2013, is the world’s largest bitcoin investment fund and was converted into an ETF from a closed-end structure after Wednesday’s regulatory approval. Original

GBTC, BTCO, FBTC, DEFI, BTCW Lead as Bitcoin ETFs Debut; IBIT Is in 6th Place

January 11, 2024

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What major analysts say bitcoin ETF approval means for Coinbase shares

January 11, 2024 boss

Cryptocurrencies have faced a turbulent few days in anticipation of — and reaction to — the Securities and Exchange Commission finally approving trading in 11 new spot bitcoin ETFs in the U.S. These newly-launched ETFs spell good news for the crypto market, since they help legitimize an industry that has long been viewed skeptically by regulators and institutional investors alike. The ETFs will also ease the way for retail investors to trade in crypto, giving them the ability to buy and sell various coins through a traditional vehicle that they’re…

Ethereum’s Vitalik Buterin Proposes Gas Limit Increase

January 11, 2024

Following Buterin’s Reddit comments on Wednesday, more users on X, the platform formerly known as Twitter, chimed in with words of support for the suggested increase. Jesse Pollak, the head of protocols at Coinbase and creator of the layer-2 blockchain Base, shared his support of the move and suggested the gas limit could even be increased even further, to 45 million. Source CryptoX Portal

Ethereum up 9% after spot Bitcoin ETF approval

January 11, 2024 boss

Ethereum (ETH) is up 9%, outpacing Bitcoin despite the U.S. Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs. What’s next for Ethereum? Ethereum break past $2,600 With the SEC approving 11 spot Bitcoin ETFs, the market promptly shifted its focus to Ethereum. In November 2023, BlackRock and Fidelity filed applications for spot Ethereum ETFs. If history is an indication of the future, then these ETFs could very likely be passed. Senior ETF analyst at Bloomberg Eric Balchunas noted in June that BlackRock had previously applied for 576 ETFs and…

Bitcoin (BTC) ETF Approval Likely Priced Into the Miners

January 11, 2024 boss

“It is unclear whether the announcement will spur further near-term upside in bitcoin and mining stocks, or if investors will sell the news,” analysts Reginald Smith and Charles Pearce wrote. “Our sense is mining stocks are due for a breather, but expect stock performance to track bitcoin prices over the coming weeks.” Original

Bitcoin Price Targets A Whopping $600,000 After ETF Approval

January 11, 2024 boss

Bullish tremors shook the cryptocurrency world today as Bitcoin, fueled by the historic approval of spot ETFs and a bold prediction by analyst Michaël van de Poppe, appears poised for a potential moonshot. Van de Poppe, whose pronouncements carry weight in the digital realm, envisions an ascent of the world’s leading cryptocurrency to staggering heights – a price range of $300-$600K within the current cycle. Related Reading: Bitcoin ETF: Navigating The Promise And Pitfalls Of Mainstream Adoption ETF Excitement Sparks Bitcoin Trading Surge This electrifying forecast sent a ripple of…