Day: January 17, 2024

US Government Accountability Office offers SEC recommendations post-Bitcoin ETF approval

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A US watchdog notes that the SEC’s specialized unit for emerging technologies is not fully prepared to meet current challenges. On Dec. 15, the United States Government Accountability Office (GAO) proposed three primary action plans to the Securities and Exchange Commission to take in the wake of approving 11 spot Bitcoin exchange-traded funds (ETFs) on Jan. 10. The advised strategies were centered around managing the workforce for the digital asset market and guiding the regulator’s approach to the burgeoning industry in the upcoming years. The report found that despite having…

ARK Reshuffles Nearly $15.9M From ProShares Futures ETF to Its Own Spot ETF

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Bitcoin Price Predicted to Hit $45k as Whales Show Resilience

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Bitcoin price has stagnated around $42,000 since the ‘sell-the-news’ cycle on the Bitcoin ETF narrative triggered a 15% retreat last week.  Bullish headwinds from the Bitcoin spot ETF approval saw Bitcoin price raced to a local top of $48,900 on Jan. 11. However, speculative traders who “sold-the-news” instantly sent BTC price tumbling 15% toward $42,000 within hours.   Can Bitcoin price avoid a downswing below $40,000? On-chain data analysis provides vital insights.  Large institutional investors have continued to buy Bitcoin behind the scenes Speculative traders took advantage of the price uptick…

Fidelity expects Bitcoin to consolidate recent gains

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Fidelity expert calls current BTC current price a “hangover” after the launch of spot BTC-ETFs, not overall trend reversal. Taking to X, Global Macro Fidelity director Jurrien Timmer says the 7% drop in Bitcoin (BTC) price over the past week suggests a short-term positioning adjustment rather than a long-term trend reversal. Well, the moment finally came last week, which is very exciting to say the least. Will this be a new chapter towards Bitcoin’s widespread adoption as a commodity-currency? 🧵 — Jurrien Timmer (@TimmerFidelity) January 16, 2024 Despite analysts predicting…

Reasons Behind The Crypto Rally

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Chiliz (CHZ), the crypto powering fan engagement in sports and entertainment, is on fire, erupting 45% in the past week and leaving both fans and analysts cheering. This meteoric rise isn’t just about passion play though, with hard data pointing to growing institutional interest and even whale whispers driving the rally. CHZ price action today: Source: Coingecko Chiliz Volume, Open Interest Soar The past 24 hours have been particularly wild, with CHZ surging over 20% and trading volume spiking a staggering 490%. This translates to a whopping $370 million worth…

Rebel Satoshi raises $1.5m in presale, XRP and Litecoin uptrend remain

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Litecoin is steady XRP is bullish despite recent struggles Rebel Satoshi raises over $1.5 million in ongoing presale Analysts are optimistic about the prospects of Litecoin (LTC) and XRP, expecting XRP to reach $0.5985 by the end of Q1 2024. Experts are also bullish on Rebel Satoshi (RBLZ). Litecoin surging BitPay data shows that Litecoin adoption is rising, increasing from 34.52% in November to 38.25% in December. LTC has…

Bitcoin Has A New Prime Trading Hour

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The crypto trading landscape is witnessing a paradigm shift with the recent introduction of spot Bitcoin ETFs in the United States, catalyzing a new wave of trading dynamics. Bloomberg analyst James Seyffart revealed that the total trading volume of the US spot Bitcoin ETFs over a span of the first three days approached the $10 billion mark. This substantial volume was predominantly led by Grayscale’s GBTC, with a three-day trading volume amounting to $5.174 billion, followed by BlackRock’s IBIT at $1.997 billion, and Fidelity’s FBTC at $1.479 billion, cumulating to…

Fidelity’s Jurrien Timmer Says Bitcoin (BTC) to Consolidate Recent Gains Amid Post ETF Price Pullback

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“The short-term question is whether this a sell-the-news moment. My guess is that it will take a little time to consolidate the recent gains, now that the big moment has arrived,” Timmer posted on X. “There were more than a few participants who ‘equitized’ future spot positions through either the futures market or bitcoin-sensitive equities.” Original