The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 17, 2024. First Mover is CoinDeskโs daily newsletter that contextualizes the latest actions in the crypto markets. Original
Thailandโs SEC has declined to allow trading of spot Bitcoin ETFs, citing that foreign-approved Bitcoin ETFs are still in nascent stages and may not align with the economic needs of the Thai market. The US securities market regulatorโs recent approval of 11 Bitcoin exchange-traded funds (ETFs) has not swayed the Thai Securities and Exchange Commission to follow suit. The Thai regulator remains cautious, believing these ETFs, which have gained traction in foreign markets, may not be suitable for the Thai economic landscape at this stage. A report by Bangkok Post…
In a recent technical update EGRAG Crypto presented a compelling case for the XRP price, with historical comparisons that are suggestive of a significant upward trend. The focal point of his analysis is the Average Sentiment Oscillator (ASO), an indicator that provides insights into market sentiment by depicting the proportion of bullish to bearish perspectives through a blue and a red line, respectively. XRP Price On Course To Hit $27 The updated ASO chart shared by EGRAG Crypto highlights a bullish cross that took place on October 3rd, 2023. This…
A US watchdog notes that the SECโs 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 regulatorโs approach to the burgeoning industry in the upcoming years. The report found that despite having…
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Bitcoin price has stagnated around $42,000 since the โsell-the-newsโ cycle on the Bitcoin ETF narrative triggered a 15% retreat last week.ย 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 โsold-the-newsโ instantly sent BTC price tumbling 15% toward $42,000 within hours.ย ย Can Bitcoin price avoid a downswing below $40,000? On-chain data analysis provides vital insights.ย Large institutional investors have continued to buy Bitcoin behind the scenes Speculative traders took advantage of the price uptick…
โThe growing importance of the USD as the currency of choice for international payments and transactions is another reason for global official and private investors to buy the currency. In turn, this should slow down further any push towards de-dollarisation,โ the strategists, led by Valentin Marinov, added. Source CryptoX Portal
Fidelity expert calls current BTC current price a โhangoverโ 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 Bitcoinโs widespread adoption as a commodity-currency? ๐งต โ Jurrien Timmer (@TimmerFidelity) January 16, 2024 Despite analysts predicting…
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 isnโt 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…
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…