Fund managers seeking to launch a spot Bitcoin ETF in the United States now have less than a week to finalize their applications.
Read more on: https://thecryptobasic.com/2023/12/25/final-date-for-amendments-to-bitcoin-etfs-confirmed/
#BitcoinETFUpdate #BitcoinETFApproval #BitcoinETFAdvocacy #cryptoahmet #CryptonewswithJack

U.S. SEC Chair Gary Gensler has shared another update on the approval process for the Bitcoin ETF filings on the agency’s table.
Read more on: https://thecryptobasic.com/2023/12/15/sec-chair-gives-update-says-bitcoin-spot-etfs-going-through-process-right-now/
#SECvsCrypto #BitcoinETFApproval #cryptocurreny #CryptoisBetter #CryptoNews🔒📰🚫

Ark Invest has completely exited its GBTC position as the fund manager aims to position itself ahead of a potential Bitcoin ETF approval.
Read more on: https://thecryptobasic.com/2023/12/28/cathie-woods-ark-invest-completely-exits-gbtc-ahead-of-imminent-bitcoin-etf-approval/
#GBTCConversion #BitcoinETFApproval #Cryptocurrrency #CryptonewswithJack #CryptoNews🔒📰🚫

Sources close to asset management companies seeking to launch a spot Bitcoin ETF speculate that the SEC could approve multiple applications by January 10. 
Read more on: https://thecryptobasic.com/2023/12/21/experts-say-sec-may-approve-multiple-spot-bitcoin-etf-applications-at-once-by-january/
#SECApprovalSigns #SECvsCrypto #BitcoinETFApproval #crypto2024catch #Cryptonews230

Introduction:

Bitcoin, the world's most valuable cryptocurrency, has caught the attention of an optimistic analyst due to its six-year range inside a rising channel. Despite the occasional fluctuations, the structure remains intact, fueling excitement among HODLers. This blog post delves into the analysis of Bitcoin's price chart, the potential for a breakout, and the factors that could lead to a new bull run.

Analyzing the Rising Channel:

As of July 21, Bitcoin was trading in the lower part of the rising channel, hovering near the support trend line. The rejection of lower lows and the bounce from the support line have left the analyst bullish, signaling a potential shift in favor of the bulls.

Bitcoin To $175,000:

The trader's assessment suggests that if Bitcoin breaks above the upper resistance level at around $32,000, it could ignite a new bull run. In this scenario, Bitcoin's price might retest highs of the rising channel at an optimistic $175,000. Such a possibility has excited HODLers, who see this level as a feasible target.

Considering Crypto Volatility:

While the bullish forecast is promising, it's crucial to acknowledge the inherent volatility in the crypto market. Bitcoin's last bull run saw it surge from sub-$10,000 to $69,000 in under two years, highlighting the potential for significant price swings. Therefore, breaching the $32,000 level could mark the beginning of another leg up in the bullish formation set in motion between 2020 and 2021.

Current Bitcoin Price and Resistance Levels:

As of July 22, Bitcoin's spot rates remain below the $30,000 level, with resistance at $31,800. Despite general optimism, the market is awaiting a breakthrough of July 2023 highs, as prices consolidate.

Halving and ETF Approval as Potential Catalysts:

The exact triggers for the next bull run are uncertain, but two potential catalysts are being closely monitored. Firstly, the upcoming Bitcoin halving event could provide the impetus for a surge towards 2021 highs of $69,000. Secondly, market participants are eagerly watching the progress of spot Bitcoin exchange-traded fund (ETF) applications in the United States.

BlackRock's involvement in the crypto sphere has been well-received, buoying prices in recent weeks. If a Bitcoin ETF receives approval, it could pave the way for increased institutional involvement and heightened demand, ultimately driving prices higher. Additionally, legitimizing Bitcoin as an investment asset through an ETF would have significant implications for the market.

Conclusion:

The rising channel inside which Bitcoin has been trading for six years has garnered attention, sparking hopes of a potential $175,000 bull run. While the bullish forecast is compelling, it's essential to acknowledge the inherent volatility of the crypto market. The upcoming halving event and potential ETF approval could serve as catalysts for the next bull run. As always, investors should exercise caution and conduct thorough research before making any decisions in this dynamic and ever-evolving market.

$BTC

#BitcoinBullRun2023

#CryptoPriceSurge

#Bitcoin175K

#HalvingEventImpact

#BitcoinETFApproval

In a significant development, Bitcoin ETFs have secured approval exactly 15 years after Hal Finney's groundbreaking "Running Bitcoin" tweet. The cypherpunk legend, who passed away in August 2014, not only holds the distinction of being the first person, aside from Satoshi Nakamoto, to download and run Bitcoin's software but also foresaw its rapid growth. In an email to Nakamoto, Finney estimated a future where each of the 21 million coins could be worth a staggering $10 million.The Journey from "Running Bitcoin" to Wall Street AdoptionOn January 11, 2024, the U.S. Securities and Exchange Commission (SEC) granted approval for the first-ever spot Bitcoin ETF, marking a pivotal moment in the cryptocurrency's history. Established financial giants like BlackRock and Fidelity, along with the crypto-native Grayscale's Bitcoin Trust (GBTC), now operate as approved providers for these ETFs. Fees associated with these products range from zero to 1.5%.While Bitcoin initially emerged as an anti-establishment concept, its adoption on Wall Street signifies a paradigm shift, positioning the digital token for widespread growth as an alternative asset. The SEC's green light for these regulated products allows investors and funds to gain exposure to Bitcoin without the risks tied to managing a cryptocurrency wallet, overcoming years of delays and outright rejections.Navigating Through Rejections and DelaysThe road to approval was not without its challenges. Co-founders of the Gemini crypto exchange, Cameron and Tyler Winklevoss, filed their first application with the SEC in 2013 to create a spot Bitcoin ETF, only to face prompt rejection. Grayscale, a major player in the crypto space, has been attempting to convert its trust into an ETF since 2017.Disclaimer: The information provided is based on a summary from azcryptoreviews on Jan 11, 2024, and may not reflect real-time developments. Always conduct thorough research before making investment decisions.#BTC #BitcoinETFApproval #HalFinneyLegacy #CryptoOnWallStreet $ETH $BTC

The approval window for spot Bitcoin Exchange-Traded Funds (ETFs) is set to open in less than 20 days, which has the cryptocurrency industry buzzing with anticipation. A thorough list of pending spot ETF files was recently made public by well-known cryptocurrency influencer Crypto Rover, providing insight into the possible applicants who are still seeking Securities and Exchange Commission (SEC) approval.
The Situation with Upcoming Bitcoin ETFs
A tabulated screenshot from Crypto Rover provides interesting information about the applications for pending spot Bitcoin ETFs. Of the thirteen on the list, twelve of them were submitted this year, which indicates that the cryptocurrency industry is becoming more and more interested in getting these investment instruments approved by regulators.
Among the applications filed before 2023, Grayscale Bitcoin Trust is noteworthy since it is a re-file that was filed on October 19, 2021.
The Special Method of Grayscale
One notable feature of the applications that are still pending is Grayscale's most recent submission, which entails transforming its current Grayscale Bitcoin Trust (GBTC).
In contrast to the direct investment strategy that is common in the cryptocurrency field, this calculated move intends to make Bitcoin more available to individual and institutional investors through a traditional investment avenue in the form of shares.
The Regulatory Environment and Timelines
Although there is a window of opportunity for approval, the SEC has not yet established a new deadline for Grayscale's ETF approval, as the last one expired on October 13. The majority of other applications, however, have deadlines that fall during the first quarter of 2024. Pando's application is slated to be reviewed in Q3 2024, but only two applications are extended into the second quarter.
According to Crypto Rover's excellent report, Coinbase is the preferred custodian for the majority of proposed spot Bitcoin ETFs. The landscape of possible ETF offerings has also been further shaped by the fact that eight out of thirteen applicants have chosen the Chicago Board of Exchanges (CBOE) as the designated exchange to fulfill their intended purpose.
Market Prediction
Crypto fans are waiting to see if spot Bitcoin ETFs will be approved as the window for approval is closing. This regulatory approval may indicate a turning point in the market and the start of the next bull cycle. The impending Bitcoin halving event, which is anticipated to take place in the first quarter of 2024, adds to the increased enthusiasm and paves the way for big changes in the cryptocurrency market in the months ahead.
The cryptocurrency community is anticipating the possible approval of spot Bitcoin ETFs and is watching closely to see if this regulatory milestone will significantly alter the sector. With the clock ticking down, all eyes are on the SEC and the decisions
#Roarstock #bitcoin #BitcoinETFUpdate #BitcoinETFLaunch #BitcoinETFApproval
$BTC