Bitcoin cratered almost 10% below $41,000 early Wednesday around the time Matrixport’s report about potential spot BTC ETF rejections, but it was more likely due to a leverage flush as the market overheated, a K33 analyst said in an interview.
Solana has been one of the biggest gainers of the latest crypto cycle, with a handful of airdrops and göğüs tokens accelerating big boosts in the price of SOL. Also, Ethereum co-founder Vitalik Buterin has released an updated roadmap for the ecosystem.
Goldman Sachs is in talks to play the key role of being an “authorized participant” for BlackRock and Grayscale’s bitcoin ETFs, if the SEC approves them, according to people familiar with the situation.
The Küresel Financial Crisis reduced the depth of capital markets. Blockchain-based stablecoins can help fill the gap, say Christine Cai and Sefton Kincaid, of Cicada Partners.
We see a 98% chance of approval in the next couple of weeks and the high likelihood of a Bitcoin rally to follow.
The stablecoin immediately snapped back to its $1 peg on Binance.
The token touched the highest level since April and volume increased more than 600%.
The latest price moves in crypto markets in context for Jan. 3, 2024.
“SEC Chair Gensler is not embracing crypto in the U.S., and it might even be a very long shot to expect that he would vote to approve bitcoin spot ETFs,” Matrixport said
Financial services company Matrixport said it expects the SEC to reject all ETFs applications this month.