Bitcoin is once again approaching its all-time high, yet this surge in price has not significantly increased retail investor interest. Despite hitting $73,562 on October 29, the cryptocurrency’s popularity among retail investors remains tepid, with search trends and app rankings showing little change.
Bitcoin (BTC) experienced a decline in early trading on Friday, September 6, following a more than 3% drop the previous day. Market participants had anticipated a 25 basis point reduction in the federal funds rate, which could potentially boost the legacy cryptocurrency. However, Bitcoin has fallen around 24% since its record high on March 14, due to a lack of new narratives to drive bullish sentiment.
How Securities and Exchange Commission (SEC) Approvals and Political Endorsements are Shaping Investment Opportunities. The cryptocurrency market has experienced a significant boost this year, primarily due to the U.S. Securities and Exchange Commission’s approval of an exchange-traded fund (ETF) that tracks the spot prices of Bitcoin (BTC) and Ether (ETH). This development has sparked renewed interest and optimism among investors.
Hong Kong funds are stepping up advertising campaigns for spot Bitcoin ETFs, attracting the attention of Chinese investors. Bloomberg Intelligence predicts possible capital inflows through the creation and redemption of these ETFs. Hong Kong’s Securities and Futures Commission (SFC) is expected to approve the funds in the second quarter. Harvest Global and Venture Smart Financial…
Major money management firms are increasingly confident that the Securities and Exchange Commission (SEC) will make cryptocurrency history in early January by approving the first spot Bitcoin exchange-traded fund, FOX Business has learned. Sources close to these companies say recent guidance from SEC officials is that the green light will likely be given by January…
No matter how trivial it may sound, there are financial assets in the commodity markets that add 2-5% growth every day. Such a price jump, especially in a directional movement, is much greater than that of the most liquid cryptocurrencies. Due to bad weather and cataclysms on the planet, cocoa and orange juice are now…
Previously, we gave a forecast for the growth of major cryptocurrencies. The main drivers were expectations of positive regulatory approval for spot ETFs and geopolitical tensions in the global economy and order. To these drivers, another important factor was added – the monetary policy of the US Federal Reserve. We believe the flagship cryptocurrency Bitcoin,…
On Tuesday, European lawmakers discussed in closed sessions what steps could be taken to enable authorities to identify individuals making transactions with any number of crypto assets, but no agreement was reached. Officials are concerned that “it is possible that terrorist financing may occur not only in large transactions, but also in small ones.” In…
The current “cottage industry” has about $50 billion in assets under management, equivalent to about 4% of the current cryptocurrency market size, write analysts led by Gautam Chhugani. Currently, the total capitalization of the cryptocurrency market is $1.08 trillion. The capitalization study comes months after companies like BlackRock filed for a spot ETF with the…
Founder and managing partner of venture capital firm Morgan Creek, Anthony Pompliano, believes that if the spot BTC-ETF is approved, it will attract $300 billion to the market. Industry leaders and experts are weighing the implications of the U.S. Securities and Exchange Commission’s (SEC) possible approval of a spot Bitcoin exchange-traded fund (ETF). Among the…
