Bitcoin (BTC)

After consistently denying approval for a spot Bitcoin ETF for American investors over the years, there are indications that SEC chair Gary Gensler might be reconsidering his position in light of Grayscale’s legal triumph. While he has not explicitly acknowledged any change in stance, he admitted taking a new look at the approval process of a spot Bitcoin ETF following the recent court rulings. Softening Stance? In an interview with CNBC’s “Money Movers,” Gensler said, “I...

Bitcoin cash is eyeing a fresh increase above the $242 resistance against the US Dollar. The price is now trading below the $245 zone and the 55 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $238 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $238 and $242 to start a fresh increase in the near term. Bitcoin cash price is consolidating gains above $230 against the US Dollar,...

TL;DR Uphold is hosting an XRP giveaway to conclude 2023, offering 100,000 XRP to one winner and 1,000 XRP each to 25 participants. Eligibility requires a minimum of $20 in trades on the platform, with no limit on entry count. The giveaway is exclusive to US residents, continuing a series of similar events held by Uphold in previous months. This initiative follows Ripple’s partnership with Uphold in October to improve cross-border payments, leading to a surge in XRP trading...

It’s nearly guaranteed that regulators will force Bitcoin (BTC) ETF applicants to adopt a “cash-create” model before launching their highly anticipated investment products, according to Bloomberg ETF analyst Eric Balchunas.  The decision, if true, would have major implications for the cost of managing each fund – and by extension, the fees passed down to customers. In-Kind VS In-Cash Since last month, BlackRock and other applicants have held multiple meetings with the...

Analysts for the world’s largest bank expect Ethereum (ETH) to outperform Bitcoin (BTC) next year amid a critical network upgrade for the former, and a wildly disappointing ETF launch for the latter. In a report published Wednesday, JPMorgan argued that Ethereum’s upcoming “Protodanksharding” (EIP-4844) upgrade will help bolster network activity after a lull period during which Ether (ETH) has underperformed other cryptos. Ethereum’s Impending Comeback Expected for April,...

Bitwise Asset Management has joined the list of companies aiming for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) approval in the United States. The firm’s ETF has been officially listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker BITB, signaling a growing optimism within the sector. Bitwise Optimistic Following Listing Bitwise’s entry into this arena follows the steps of Fidelity, another prominent financial institution that had its spot...

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Although the price spikes following the Fed announcement cleared recent bearish drawdowns and provided support levels, uncertainty remains over the sustainability of the increases. The prices of major cryptocurrencies, including Cardano (ADA) and Solana (SOL), have seen fluctuations around the latest Federal Reserve announcement on interest rates. On December 13th, 2023, the Fed decided to keep rates within a target range of 5.25–5.50%, leading to an initial boost in the price of Bitcoin...

The crypto market responded positively to the FASB announcement, with Bitcoin’s price rising over 4.12% to $42,979 following the guidance release. The Financial Accounting Standards Board (FASB), the US entity responsible for detailing how companies report assets on their balance sheets, has introduced new standards allowing corporations to measure Bitcoin (BTC) and other crypto assets at fair value. FASB’s Shift Towards Fair Value Measurement This marks a departure from the previous...

Bitwise has published 10 predictions for the crypto industry in 2024, including a fall in Ethereum transaction cost and the approval of Bitcoin ETFs. As we are coming closer to a new year, there are inevitably not only recaps of 2023 but predictions for 2024. The industry is in a very interesting place with top tokens showing signs of recovery and major milestones within view. In light of this, Bitwise has released 10 predictions they have for the crypto industry in 2024. Bitwise’s Crypto...