Spot ETF Approvals Will See BTC Value Rising to $50,000 in January🚀🚀🚀🚀🚀💵💵💵
The expected approval of spot bitcoin exchange-traded funds (ETFs) applications by the U.S. Securities and Exchange Commission will see the top crypto asset’s price jumping to $50,000 in January, the latest market preview by Matrixport has predicted. The crypto financial services platform said the approval of ETFs, combined with bitcoin halving, will likely see the price of BTC rising to $125,000.
Despite the crypto asset’s 160% growth in 2023, many experts still expect BTC to surge when the SEC eventually approves spot bitcoin ETF applications by the likes of Blackrock and Fidelity. Initial reports suggesting that the SEC planned to approve the ETFs on Jan. 2 or 3 are believed to have fueled BTC’s mini rally which saw it breach the $45,000 mark for the first time in two years.
Impact of Bitcoin Halving
Although some experts have suggested that the current value of the top crypto asset already factors in the impact of SEC approvals, Matrixport’s market preview suggests that an expected $24-50 billion dollars of inflows will spark a new BTC rally. The crypto financial services platform said the approval of ETFs, combined with bitcoin halving, will likely see the price of BTC rising to $125,000.

Mark Cuban, a Shark Tank star and the billionaire owner of the NBA team Dallas Mavericks, says the U.S. Securities and Exchange Commission (SEC) doesn’t protect anyone, calling the regulator “the Quickbooks of financial regulation.” He stressed that the Howey Test isn’t enough to cover every crypto situation.
Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, slammed the U.S. Securities and Exchange Commission (SEC) in a post on social media platform X Thursday.

Regarding whether the current securities law is sufficient to regulate crypto, Cuban said: “All you need to know is that Howey was not enough to cover every situation, so Reves came along.” Reves v. Ernst & Young is a Supreme Court case related to the definition of an “investment contract” under the Securities Act of 1933. The billionaire added:

Now there’s a need for a crypto complement to Howey and Reves.

The owner of the Dallas Mavericks opined: “The SEC is the Quickbooks of financial regulation. They don’t protect anyone but they are really good at bookkeeping.”

Cuban further shared: “It’s also nice to know that if the SEC had taken the same path as Japan and required collateral for crypto loans, all the bankrupt crypto services would still be alive. Just as FTX Japan is.”

Moreover, the Shark Tank investor questioned: “Has the SEC ever moved in to protect investors before something bad has happened?”

🏦🏦🏦Bitwise’s $200 Million Plan to Seed Spot Bitcoin ETF💵💵💵💵💵

Bitwise has revealed in an amended filing with the U.S. Securities and Exchange Commission (SEC) a plan to seed its spot bitcoin exchange-traded fund (ETF) with $200 million. This significantly exceeds Blackrock’s $10 million seed commitment for its spot Bitcoin ETF that’s planned for Jan. 3

Bitwise is one of the spot bitcoin exchange-traded fund (ETF) applicants that submitted an amended filing (S-1) to the U.S. Securities and Exchange Commission (SEC) on Friday. Once launched, Bitwise’s spot bitcoin ETF will trade under the ticker symbol BITB.

According to the firm’s filing with the SEC, an unnamed entity “has indicated an interest in purchasing an aggregate of up to $200 million of shares in this offering from authorized participants or in the marketplace through broker-dealers.”

Last week, Blackrock revealed in an amended filing with the SEC a plan to seed its spot bitcoin ETF with $10 million on Jan. 3.

Earlier this month, Bitwise unveiled 10 crypto predictions for 2024, including its expectation for bitcoin to trade above $80,000. The asset manager also believes that “spot bitcoin ETFs will be approved, and collectively they will be the most successful ETF launch of all time.” Moreover, Bitwise expects spot bitcoin ETFs to “capture 1% of the $7.2 trillion U.S. ETF market, or $72 billion in AUM.”

🚀🚀🚀🚀Bitcoin Price Prediction as $40,000 Resistance Comes into Play – Can BTC Reach $50,000 This Week?

As Bitcoin soars to a striking $39,390, up by a significant 1.50% in the last day, the crypto community is abuzz with anticipation.

The spotlight is firmly on Bitcoin’s next potential feat: breaking the formidable $40,000 resistance. Speculations are rife, with some market enthusiasts, like Arthur Hayes, optimistically expecting December to bring further highs.

Simultaneously, financial experts like Jenny Johnson from Franklin Templeton are delving deep into cryptocurrency investing and exploring the integration of blockchain technology, keeping a close eye on the evolution of Bitcoin ETFs.

The question on everyone’s mind now is whether Bitcoin can sustain this momentum and catapult past $50,000 this week.

Arthur Hayes Forecasts a December Bull Run for Bitcoin
Arthur Hayes, former CEO of BitMex, is expressing excitement over potentially market-moving developments, This is a reference to Federal Reserve Chairman Jerome Powell’s imminent address
Hayes is expecting a significant move—a rate reduction that could send Bitcoin to all-time highs. Historically, December has been a strong month for Bitcoin, particularly following successful closures in October and November.

🚌Bitcoin Price Prediction🚌

In the current technical landscape for Bitcoin, as observed on December 3, the digital asset is trading near $39,564, showing marginal movement in the last 24 hours.

The daily chart unfolds within an ascending channel pattern, hinting at a bullish bias among market participants.

Key resistance and support levels are closely watched, with immediate resistance at $40,082, and further barriers at $41,941. Support levels lie at $38,033, followed by $35,200 and $34,971.
The RSI hovers around 68, flirting with the overbought territory, yet not conclusively signaling a reversal.

The price positioning above the 50-day EMA reinforces the short-term bullish trend.
#nfa #dyor #bitcoin #BTC🔥🔥 #BitcoinAnalysis #Bullrun

Bitcoin (BTC/USD) presents a reserved yet positive picture in today’s market, trading at approximately $38,150. The 4-hour chart demonstrates a stable progression with key resistance and support levels in focus. The pivotal price point for Bitcoin is currently at $37,572, with immediate resistance observed at $38,249. Should the momentum continue, further resistance levels await at $39,070 and $39,801.BTC Hits $38,000 Amid MicroStrategy Buy & SEC ETF Buzz

The Relative Strength Index stands at a moderately bullish 59.24, suggesting potential for growth without signaling an overbought scenario. The upward channel pattern visible on the chart supports this bullish sentiment, indicating persistent buying pressure at the lower trend line.

As long as Bitcoin remains above the pivot point, the near-term outlook remains optimistic, with the currency likely to challenge immediate resistance levels. Traders may anticipate a test of the $38,249 resistance, and a consolidation above this could pave the way for an approach towards the $39,070 mark.

MicroStrategy, a software analytics firm, has strategically increased its Bitcoin holdings. The company purchased an additional 16,130 bitcoins for $593.3 million, raising its total to 174,530 – a more than 10% increase. Starting in August 2020, the company began accumulating Bitcoin as its primary reserve asset. As of November 29, their Bitcoin assets were valued at approximately $6.6 billion. Concurrently, MicroStrategy initiated a $750 million Class A common stock offering with Cowen and Company, aiming to further boost their Bitcoin stakes.

Blackrock’s New Strategy for Spot Bitcoin ETF to Address SEC
The world’s largest asset manager, BlackRock, recently reconvened with the U.S. Securities and Exchange Commission (SEC) to discuss their application for a spot Bitcoin ETF. To address the SEC’s concerns, BlackRock proposed a “revised in-kind” model, also known as a “prepay,” which aims to mitigate risks and manage balance sheet implications during redemption flows.
#dyor #BTCETF #BitcoinETF #bitcoin

#$Over $356M Lost to Hacks, Phishing Scams and Rug Pulls in Crypto in November

Beosin EagleEye’s latest report exposes a massive surge in blockchain security incidents during November 2023, leading to a staggering total loss of over $356 million.

This marked an alarming 6.9-fold increase compared to the losses reported in October.

Hacker attacks took the lion’s share of the losses, accounting for approximately $335.63 million. The two high-profile incidents involving stolen funds exceeding $100 million each shook the industry.

Cryptocurrency exchange Poloniex fell victim to a hack of approximately $126 million, while HTX, along with its affiliated cross-chain bridge HECO Bridge, suffered a theft of approximately $110 million.

Remarkably, these two incidents, both affiliated with Sun Yuchen, constituted a significant 66% of the total losses attributed to hacker attacks in November.

Phishing scams also witnessed a surge, with individual addresses falling prey to schemes exceeding $1 million.

The global cryptocurrency landscape experienced a spike in crime cases involving amounts exceeding $100 million, encompassing various forms of fraud and money laundering.

Exchanges, both centralized (CEX) and decentralized (DEX), bore the brunt of security incidents in November, with a combined loss of $215 million.

Poloniex, HTX, CoinSpot, dYdX, and KyberSwap were among the affected platforms.

The report issues a stern recommendation for major projects to fortify private key management, conduct routine security audits, establish emergency response plans, and intensify security awareness training for privileged employees.
Phishing Scams and Rug Pulls Witness an Uptick
The phishing scam landscape, witnessing an uptick in incidents, prompts user advisories to securely store private keys, exercise caution during signing procedures, and avoid engagement with suspicious content.
On the regulatory front, the US Treasury Department took action against cryptocurrency mixing platform Sinbad.
#bitcoin #CryptoNews🔒📰🚫 #HackerAlert #cryptocurrencymixing #sinbad

🚀🚀🚀🚀🚀🚀Bitcoin nears pre-halving 'target zone' toward $50K BTC price ✈️✈️✈️✈️✈️✈️🚀🚀🚀🚀🚀

Bitcoin BTC$36,461 is nearing a key Fibonacci retracement level which could mark the top of its “pre-halving rally.”
That is according to popular social media trader Titan of Crypto, who on Nov. 19 reiterated a pre-halving BTC price target of up to $50,000.

Bitcoin faces stiff resistance sliding back to the $40,000 mark; several attempts to crack it have failed in the past week.
As Cointelegraph reported, the area immediately below also holds significance for aggregate market profitability, with $39,000 likely a breakeven point for those who bought in during the 2021 bull market.
Titan of Crypto has also flagged $39,000 as an important boundary — this time, however, as the bottom of where BTC/USD should end up prior to the April 2024 block subsidy halving event.
“The pre halving rally I told you about one year ago is about to reach its target zone between $39k-$50k,” he told X subscribers, adding that “patience is key.”

The update referenced an original post from December 2022, when Bitcoin was still preparing to recover from a trip to two-year lows of $15,600.
Then, Titan of Crypto used Fibonacci retracement levels to predict a pre-halving peak of up to $50,000 — at the time a 220% increase.
“Each cycle BTC had a rally before its halving occurs. Those rallies topped within the 61.8%-78.6% fibonacci retracement area,” part of commentary noted at the time.