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Bitcoin cratered almost 10% below $41,000 early Wednesday around the time Matrixport’s report about warning of a spot BTC ETF decline, 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 meme 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.
We see a 98% chance of approval in the next couple of weeks and the high likelihood of a Bitcoin rally to follow.
The Global 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.
Circle’s USDC stablecoin spiked down to as low as $0.74 on three occasions today following a marketwide sell-off spurred by a report casting doubt over whether a spot bitcoin ETF will be approved this month.
ENS, the governance token of the Ethereum Name Service project, surged after Ethereum cofounder Buterin posted on X that the service is “super important.”
The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 3, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
“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.
Bitcoin slid 8% from a 20-month high on Wednesday as jitters around the anticipated approval of a spot BTC ETF began to enter the market.