Major cryptocurrencies, including Bitcoin, Ethereum, and XRP, experienced a price crash following concerns about the Federal Reserve and the delay of a spot Bitcoin ETF decision by the SEC, sparking anticipation for upcoming ETF decisions by BlackRock and other asset managers.
Bitcoin's recent correction and retracement of gains linked to BlackRock's BTC ETF application indicate weakness in the market, prompting one crypto trader to stay on the sidelines until Bitcoin either reclaims $30,000 or experiences a major collapse, while also noting that trader sentiment currently favors altcoins.
The cryptocurrency market has experienced a notable downturn, with the total market capitalization falling by 10% and triggering significant liquidations on futures contracts, attributed to factors such as rising interest rates, inflation, delays in approving a Bitcoin exchange-traded fund (ETF), financial difficulties within the Digital Currency Group (DCG), regulatory tightening, and a strengthening US dollar.
In July, capital inflows from venture capitalists in the crypto sector decreased by 10.26%, with $700 million raised, as macroeconomic conditions and geopolitical events continued to impact investment decisions, although some notable outliers, such as Polychain Capital and CoinFund, launched new funds totaling millions of dollars, and the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. could bring renewed attention and capital into the industry. Infrastructure and Web3 sectors received the most capital inflows, while overall investor activity in the blockchain industry remained low, suggesting a slow return to a steady upward trend.
Bitcoin prices experienced a sudden drop last week, with analysts attributing it to large liquidations of perpetual futures and a report that SpaceX had sold the cryptocurrency, while industry insiders have mixed opinions on the impact of spot bitcoin ETFs and Coinbase's investment in Circle.
The US Securities and Exchange Commission is seeing a surge in proposals for crypto ETFs, including spot bitcoin ETFs and ether futures ETFs, which could have significant impacts on the adoption of cryptocurrencies, market moves, and the potential outperformance of various tokens.
Former Goldman Sachs executive Raoul Pal believes that Bitcoin may be on the verge of a massive rally, based on the historical volatility of the cryptocurrency dropping below 20, a level that has preceded significant price increases in the past. Pal also notes that Bitcoin's Bollinger Bands, a volatility indicator, are the tightest they have ever been, further indicating the potential for a strong upward movement. Ethereum is also highlighted as trading within a bullish pattern despite recent market corrections.
Stocks rally as job openings decline in July, bonds rally on softening job market and odds of interest rate pause, court rules SEC needs more reasoning to block Grayscale's Bitcoin ETF, and other market movements.
Bitcoin rallied after a U.S. court ruled against the SEC's denial of Grayscale's request to convert its bitcoin trust into an ETF, resulting in a surge in bitcoin prices and a significant increase in coins moved to centralized exchanges.
Bitcoin led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
BlackRock's entry into the crypto space with its application for a Bitcoin exchange-traded fund (ETF) marks a significant turning point that dispels the notion of cryptocurrencies as a passing trend, signaling the growing institutional interest in Bitcoin and the crypto industry.
Bitcoin and major tokens have experienced losses as the U.S. Securities and Exchange Commission (SEC) delays key ETF decisions, dampening hopes of a long-term recovery.
Crypto markets experienced a "Bart Simpson" pattern for the week, as a sell-off following the SEC's decision to postpone Bitcoin ETF decisions erased Tuesday's rally, resulting in a 3.7% slump in cryptocurrency capitalization.
Bitcoin and other cryptocurrencies experience a decline as the Securities and Exchange Commission slows down the decision process for crypto exchange-traded funds.
Bitcoin's recent price drop, despite the potential for future exchange-traded funds (ETFs), may indicate a coming liquidity crisis as loose monetary policies reverse, according to Bloomberg Intelligence senior macro strategist Mike McGlone.
Bitcoin, Ethereum, and other cryptocurrencies have been experiencing a steady decline in prices due to concerns from the Federal Reserve, leading to warnings of a potential price crash, although some analysts remain hopeful for improvement.
August saw the crypto markets experience a downturn, with Bitcoin and Ether losing significant value due to liquidations on the derivatives market, while venture capital investment in the blockchain industry hit a new low and derivatives drove negative sentiment for Bitcoin.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
Ether (ETH) has experienced a modest increase in price in 2023, but it is still trading significantly below its peak in November 2021, raising questions among investors about the reasons behind the decline and potential catalysts for a reversal. The ongoing legal battle between Ripple and the SEC, as well as regulatory uncertainties surrounding the Ethereum ICO, remain sources of concern. However, positive surprises such as the request for a spot Ether ETF and Ethereum's position to benefit from Bitcoin-related catalysts give hope to investors.
Bitcoin and Ether fell below key price levels as cryptocurrency markets retreated following the US Federal Reserve's hawkish stance on interest rates, with more downward movement expected for Bitcoin as it fails to break its 50-day moving average, while Ether's failure to rally above the $1,650 support level could have significant implications for altcoin sentiment.
Cryptocurrency markets surged higher, with Bitcoin breaking above $27,000 and Ethereum outperforming Bitcoin due to investor hopes for a potential U.S. regulatory greenlight for a futures-based exchange-traded fund (ETF).
Bitcoin and Ethereum saw gains in the crypto market driven by factors such as the announcement of an Ethereum futures ETF, a rise in the S&P 500 index, and short liquidations, with the rest of the market also experiencing bullish gains.
The recent rallies in Bitcoin and altcoins could reverse abruptly, according to trader DonAlt, who believes that the market is rallying based on anticipation of Ethereum-based ETFs but warns that these catalysts may not be strong enough to sustain the rallies, especially considering the historical bearishness of crypto futures products.
Bitcoin's sharp rally on October 1 may have been influenced by a temporary agreement reached by US legislators to avert a government shutdown, combined with the historically strong performance of Bitcoin in October, while the US stock markets are also in a favorable position this month. However, the rising US dollar index could pose a challenge for the bulls in the cryptocurrency markets.
Bitcoin ended the day slightly higher but saw a dip as the US 10-year yield surged, while the launch of ether futures ETFs did not generate much investor interest; however, the overall crypto market has been experiencing a rally influenced by factors like SEC approvals and government decisions, but there are concerns about the sustainability of this rally.
Bitcoin and other cryptocurrencies experienced a decline in value following the disappointing launch of a cryptocurrency exchange-traded fund (ETF) and the increase in bond yields.
Bitcoin and other major cryptocurrencies experienced mixed movements as low volatility returned to the market after a period of optimism surrounding ETFs.
Bitcoin experienced a brief rally above $28,000 but quickly dropped to $27,300, remaining relatively flat compared to the wider crypto market; however, it is still defying the market rout in equity and U.S. Treasury bond trading, signaling a bull market, according to ByteTree's chief investment officer.
Bitcoin could potentially experience a short-term reversal due to recent price increases, and the underperformance of ether futures exchange-traded funds (ETFs) has had a negative impact on major cryptocurrencies.
Major cryptocurrencies experienced a decline as investors awaited crucial jobs data that could impact interest rates, with Bitcoin, Ethereum, and Dogecoin all seeing price drops.
Despite some positive announcements, the prices of Bitcoin and Ethereum remained relatively stable, indicating that cryptocurrencies are less influenced by current news compared to the past; however, Avalanche and Solana experienced notable price rallies.
The CoinDesk Market Index (CMI) declined by -11% in the past quarter, with Bitcoin outperforming by -10.9% and Ether underperforming at -12.5%; however, Bitcoin and Ether have still shown impressive gains of 64% and 41% respectively for the year, highlighting their resilience as top-performing assets. Regulatory pressure on alternative tokens continues to drive a bifurcation in the crypto market between Bitcoin and Ether and other digital asset protocols, while the computing and DeFi sectors were relative outperformers in Q3 2023. The reduced level of risk, lower volatility, and decreased correlation with traditional equities suggest a maturation of the market or market illiquidity. Rising bond yields and tightening financial conditions may pose headwinds for crypto price appreciation, but the approval of a Bitcoin spot ETF could be a catalyst for breaking through these macroeconomic headwinds, enabling broader investor access and institutional adoption.
Cryptocurrency prices, including Ether (ETH), have fallen for the fourth day in a row due to a slightly higher-than-expected inflation report, with ETH reaching its lowest price since March; meanwhile, Bitcoin (BTC) remains relatively stable, potentially benefiting from its perceived safety during uncertain times.
The crypto market experienced a significant downturn this week, with Ethereum being hit particularly hard, trading at its lowest point since March. Other major coins and tokens, including Toncoin, Solana, Ripple, Polygon, and Bitcoin Cash, also suffered losses. Only Bitcoin saw a relatively smaller decline.
Bitcoin and other cryptocurrencies experience a surge as traders anticipate the approval of a Crypto ETF by the Securities and Exchange Commission.
The weak crypto market and global economic uncertainties have contributed to lackluster performance and low investor interest in exchange-traded funds (ETFs) tracking ether, as investors prioritize more defensive and traditional assets.
Bitcoin experienced a short-lived rally after an erroneous news post about the SEC approving BlackRock's BTC exchange-traded fund (ETF) application, serving as a reminder of how the market could react when a real approval happens; analysts predict that a genuine approval could lead to even larger price gains, but it could also be a "sell the news" event.
Cryptocurrencies and other digital assets experienced a slight decline, but remained at high levels as investors hope for regulatory approval of a Bitcoin exchange-traded fund.
Summary: Bitcoin and other cryptocurrencies are on the rise, fueled by a recent rally, although some traders may be preparing for a potential pullback due to uncertain optimism surrounding a recent catalyst.
Major cryptocurrencies experienced a significant surge, with bitcoin leading the way, as hopes for the approval of a bitcoin exchange-traded fund (ETF) boosted the overall crypto market.
Shares of crypto-related companies surged after bitcoin traded above $34,000, fueled by optimism that a spot-price exchange-traded fund (ETF) for the cryptocurrency may be approved by the U.S. Securities and Exchange Commission (SEC).
Cryptocurrency prices surged as bitcoin rallied on hopes of a spot bitcoin exchange-traded fund (ETF) launching soon, with institutional demand for a spot bitcoin ETF stronger than ever before and a number of firms, including ARK Invest, VanEck, BlackRock, and Coinbase, filing for bitcoin ETFs.
Cryptocurrency prices surged as bitcoin reached its highest level since May 2022, driven by hopes of a spot bitcoin exchange-traded fund (ETF) launching soon after the SEC declined to challenge Grayscale Investments' court loss. Several firms, including ARK Invest, VanEck, BlackRock, and Coinbase, have filed for bitcoin ETFs, and there is significant institutional demand for a spot bitcoin ETF with expectations of SEC approval.
Venture capitalist Arthur Cheong believes Ethereum could experience a major rally if BlackRock successfully launches a spot Ethereum exchange-traded fund (ETF), citing its ESG friendliness and native staking yield as appealing to institutional investors, although he predicts a correction for the ETH/BTC trading pair before Ethereum's gains.
Bitcoin had an impressive rally this week due to optimism surrounding the approval of a bitcoin ETF in the U.S., but the chances of reaching a new all-time high before next year's halving event are low, according to industry experts.
Bitcoin and other cryptocurrencies experience a decline after a recent rally, but still remain close to the year's peak, as traders anticipate further advances.
The last week saw a marketwide rally in cryptocurrencies, with Bitcoin and several other coins experiencing double-digit percentage gains, fueled by speculation of a Bitcoin spot ETF approval and other regulatory developments.
Bitcoin's recent bull run driven by the Exchange-Traded Fund (ETF) has resulted in a surge in transactions over $100,000, indicating increasing institutional interest, and experts predict further price growth following the approval of a spot Bitcoin ETF by the SEC.
