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LIVEVRNS95
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Bullish
Bitcoin's price surged beyond $36,000, reaching its highest level in 18 months due to market expectations for the approval of Bitcoin exchange-traded funds (ETFs) in the US exchange. On Thursday, during Asian trading hours, Bitcoin rose by 3.6% to $36,856, the highest since May 2022. Smaller cryptocurrencies like Ethereum and Solana also experienced gains.
Analysts from Bloomberg Intelligence, James Seyffart and Eric Balchunas, noted an eight-day window for the US Securities and Exchange Commission to theoretically issue approval. Even if the ETF approval doesn't happen this month, they remain optimistic, estimating a 90% chance of approval by January 10, 2024.
The optimism surrounding potential ETF approval, after over a decade of consideration, has propelled the crypto market to a 120% gain this year. Caroline Mauron, co-founder of digital asset liquidity provider Orbit Markets, anticipates sustained interest in betting on Bitcoin's rally.
Josh Gilbert, a market analyst at eToro, sees ETF expectations as a top catalyst, further boosting the current rally. Alongside the ETF trigger, Gilbert mentions speculation that the US Federal Reserve has completed interest rate hikes for now, and Bitcoin's upcoming halving next year also triggers the crypto rally.
Additionally, Fyqieh Fachrur, a trader at Tokocrypt, attributes current Bitcoin price support to consistent accumulation by long-term investors. Glassnode data confirms a continuous increase in Bitcoin holdings by long-term investors in recent months, emphasizing the scarcity of Bitcoin supply.
Fyqieh highlights the dovish tone from some Fed officials as another supporting factor. A dovish stance, favoring accommodative monetary policies to stimulate economic growth, typically positively impacts risk assets like stocks and crypto, diminishing the appeal of safer assets like bonds.
#BTCđ„đ„ #bitcoin #crypto2023
Analysts from Bloomberg Intelligence, James Seyffart and Eric Balchunas, noted an eight-day window for the US Securities and Exchange Commission to theoretically issue approval. Even if the ETF approval doesn't happen this month, they remain optimistic, estimating a 90% chance of approval by January 10, 2024.
The optimism surrounding potential ETF approval, after over a decade of consideration, has propelled the crypto market to a 120% gain this year. Caroline Mauron, co-founder of digital asset liquidity provider Orbit Markets, anticipates sustained interest in betting on Bitcoin's rally.
Josh Gilbert, a market analyst at eToro, sees ETF expectations as a top catalyst, further boosting the current rally. Alongside the ETF trigger, Gilbert mentions speculation that the US Federal Reserve has completed interest rate hikes for now, and Bitcoin's upcoming halving next year also triggers the crypto rally.
Additionally, Fyqieh Fachrur, a trader at Tokocrypt, attributes current Bitcoin price support to consistent accumulation by long-term investors. Glassnode data confirms a continuous increase in Bitcoin holdings by long-term investors in recent months, emphasizing the scarcity of Bitcoin supply.
Fyqieh highlights the dovish tone from some Fed officials as another supporting factor. A dovish stance, favoring accommodative monetary policies to stimulate economic growth, typically positively impacts risk assets like stocks and crypto, diminishing the appeal of safer assets like bonds.
#BTCđ„đ„ #bitcoin #crypto2023
otw to the moon
LIVEVRNS95
--
Bullish
Bitcoin Breaks $35,000, Driven by ETF Buzz
Bitcoin surged past $35,000 as investors anticipate the launch of exchange-traded funds (ETFs) on the US stock exchange. The price briefly rose 11.5% to reach $34,580 on Tuesday. This marks a 109% year-to-date rebound from Bitcoin's 2022 decline.
The potential approval of the first US Bitcoin spot ETF has sparked excitement among asset managers like BlackRock and Fidelity. A recent federal appeals court decision favored Grayscale's Bitcoin spot ETF, potentially changing the SEC's stance on direct Bitcoin investments.
Bloomberg Intelligence ETF analyst Eric Balchunas noted iShares Bitcoin Trust's listing with the ticker IBTC, signaling progress toward ETF approval.
Bitcoin experienced a 10% intraday surge due to ETF speculation, but it was dampened by erroneous reports. Ether and other cryptocurrencies also saw gains.
Despite the SEC's crackdown on crypto after last year's market crash, approval for Bitcoin spot ETFs seems inevitable. Bitcoin's price is still below its 2021 peak, but growing interest indicates a changing landscape for the cryptocurrency market.
#etf #BTC #bitcoin
Bitcoin surged past $35,000 as investors anticipate the launch of exchange-traded funds (ETFs) on the US stock exchange. The price briefly rose 11.5% to reach $34,580 on Tuesday. This marks a 109% year-to-date rebound from Bitcoin's 2022 decline.
The potential approval of the first US Bitcoin spot ETF has sparked excitement among asset managers like BlackRock and Fidelity. A recent federal appeals court decision favored Grayscale's Bitcoin spot ETF, potentially changing the SEC's stance on direct Bitcoin investments.
Bloomberg Intelligence ETF analyst Eric Balchunas noted iShares Bitcoin Trust's listing with the ticker IBTC, signaling progress toward ETF approval.
Bitcoin experienced a 10% intraday surge due to ETF speculation, but it was dampened by erroneous reports. Ether and other cryptocurrencies also saw gains.
Despite the SEC's crackdown on crypto after last year's market crash, approval for Bitcoin spot ETFs seems inevitable. Bitcoin's price is still below its 2021 peak, but growing interest indicates a changing landscape for the cryptocurrency market.
#etf #BTC #bitcoin
xrp
LIVEVRNS95
--
Bullish
Exciting News for XRP Coin: Soaring 5% After SEC Drops Lawsuit Against Ripple CEO
Ripple's cryptocurrency, XRP Coin, has seen a remarkable 5% surge following a historic setback for the U.S. Securities and Exchange Commission (SEC) in its nearly 3-year legal battle against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
As reported by Coinmarketcap on Friday, October 20, 2023, XRP Coin is now trading at approximately USD 0.5081, marking a 5% increase in the last 24 hours.
No Legal Restrictions
XRP is currently free from legal constraints in the United States, paving the way for unhindered growth. It stands out as the only altcoin in the U.S. with regulatory clarity as a non-security asset.
Emerging victorious from extensive litigation, XRP has regained its place on major spot exchanges, including Coinbase and Kraken. Many liquidity centers and indices are also integrating it back into their portfolios.
With the legal disputes behind it, XRP, a key player in the world of payments, is poised to attract more mainstream payment companies to adopt digital currency for their operations.
These impressive fundamentals serve as a strong foundation for XRP to retest its target price of USD 1.00 in the medium to long term. Exciting times lie ahead for XRP enthusiasts. đđ #DeFiChallenge #cryptocurrency #ripple e
Ripple's cryptocurrency, XRP Coin, has seen a remarkable 5% surge following a historic setback for the U.S. Securities and Exchange Commission (SEC) in its nearly 3-year legal battle against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
As reported by Coinmarketcap on Friday, October 20, 2023, XRP Coin is now trading at approximately USD 0.5081, marking a 5% increase in the last 24 hours.
No Legal Restrictions
XRP is currently free from legal constraints in the United States, paving the way for unhindered growth. It stands out as the only altcoin in the U.S. with regulatory clarity as a non-security asset.
Emerging victorious from extensive litigation, XRP has regained its place on major spot exchanges, including Coinbase and Kraken. Many liquidity centers and indices are also integrating it back into their portfolios.
With the legal disputes behind it, XRP, a key player in the world of payments, is poised to attract more mainstream payment companies to adopt digital currency for their operations.
These impressive fundamentals serve as a strong foundation for XRP to retest its target price of USD 1.00 in the medium to long term. Exciting times lie ahead for XRP enthusiasts. đđ #DeFiChallenge #cryptocurrency #ripple e
