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Leading investment bank Goldman Sachs is eyeing a stake in the much-anticipated spot Bitcoin ETF through Grayscale and BlackRock.
#SpotBitcoinETF
#BitcoinETFApplication
#Crypto
#CryptoExpectation
#CryptonewswithJack
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As Bitcoin’s price experiences a short-term recovery, hovering around the $97,000-$98,000 mark, altcoins are quickly bouncing back. Among the top-performing altcoins, #Raydium leads the way with a 7.68% rise over the past 24 hours. Raydium Price Analysis On the daily chart, Raydium’s price action shows a strong rally, followed by a pullback. However, the bullish recovery has absorbed the pullback range, which extended from $6.50 to the $4.43 support level. This pullback represented a nearly 32% drop over 17 days. However, the bullish momentum has picked up with an overnight surge of 10.36%, followed by a 6.02% intraday gain. Raydium has surpassed the psychological $5 mark and is currently trading at $5.20. This increases the likelihood of a bull run towards the immediate trend-based Fibonacci level of 23.6% at $5.65. Additionally, the MACD and signal lines on the 4-hour chart are preparing for a bullish crossover, supporting the chances of a continued turnaround. On the daily chart, trend-based Fibonacci levels project the recovery rally to reach the 50% Fibonacci level at $7.01, potentially setting a new all-time high by the end of December. #CryptoNewss
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Amid the short-term market correction, #Bitcoin ’s price remains steady at key support levels. With an intraday recovery, BTC’s price suggests the possibility of an extended rally to offset recent declines. Bitcoin Price Analysis The second consecutive bearish candle in the daily chart caused the BTC price to drop further yesterday following the 3.69% drop on Monday. However, the low price action in the daily candles led to an intraday recovery of 0.97%, with the opening price at $96,658. On the 4-hour chart, lower price rejections signal a bullish reversal from a long-standing support trendline. The recovery is now approaching the 23.60% Fibonacci level at $98,378. Bitcoin’s price is currently $97,588, beginning a bullish recovery from a morning star pattern near the support trendline. The rally is now preparing to challenge the local resistance trendline. This creates a triangle pattern on the 4-hour chart, compressing the trend momentum. With the bullish recovery, the MACD and signal lines on the 4-hour chart are poised for a bullish crossover. #CryptoNewssCommunity
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Today, #XRP witnessed a major comeback after losing the $2 range during the market-wide dump of the last two days. Notably, the turnaround emerged as the New York Department of Financial Services (NYDFS) approved Ripple’s RLUSD stablecoin, a product designed to enable cross-border payments. The regulatory green light, announced by Ripple CEO Brad Garlinghouse, follows months of review, positioning Ripple for the imminent mainnet launch of its dollar-pegged stablecoin. Ripple’s CEO also revealed plans to announce exchange and partner listings soon, signaling preparations for the stablecoin’s rollout. Additionally, Garlinghouse cautioned XRP community members not to fall for scams amid the ongoing excitement about coming to RLUSD. “When RLUSD launches, Ripple will be the first to share the news,” he said. XRP Price Reaction Ripple’s announcement of RLUSD approval spurred notable activity in the market. XRP, the crypto asset closely associated with Ripple, experienced a surge following the news. After dipping to a low of $1.91 on Tuesday, XRP has rallied to $2.41 today, reflecting a 26.17% comeback. XRP has retraced slightly as of press time, trading at $2.33 amid selling pressure. XRP’s market capitalization is now closing in on Tether’s $138 billion valuation once again. #CryptoNews”
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