Mass adoption getting closer?
#News
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Why it matters
As we wrote earlier, the opposition is positive towards bitcoin, before the election they promised to approve #ETF for #BTC if they won.
Now we wait for the fulfillment of election promises and another step of Asian region to meet cryptocurrencies
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By the end of the first quarter of this year, 937 professional firms invested in American spot #Bitcoin ETFs, while only 95 invested in gold.
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Now Morgan is the largest holder of GBTC after Susquehanna International Group, who invested $1 billion.
First banks criticize #BTC, and then they buy it
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For now, the decision will only apply to VanEck.
For the largest contender for launching ETH ETFs, #BlackRock, the review period is set for August 7.
Meanwhile, QCP Capital believes that if the spot ETH ETF is approved, we can expect #ethereum to reach $5000 this year.
#CryptoNews #Opinion
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Certain coins are experiencing up to 161% growth due to speculative news
Meanwhile, forecasts for the price of #ETH, in the event of an ETF launch, predict it reaching $14,000 by the end of next year
#CryptoNews
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#Opinion
🔷 Analyst Eric Balchunas from #Bloomberg believes that the #SEC decision on the #Ethereum #ETF can be expected around 23:00 (GMT+3)
In January, the approval for the launch of a #BTC ETF was published around the same time💰
In Eric's comments, there's some irony about whether we should expect a hack of the SEC account this time as well. Recall that a day before the official publication about the #bitcoin ETF, a message about the approval appeared on the SEC's page, causing a spike in the digital gold price. The SEC later stated that the account had been hacked.
So, #ETH to the moon?🚀
🔥 — yes
🌚 — no
In January, the approval for the launch of a #BTC ETF was published around the same time
In Eric's comments, there's some irony about whether we should expect a hack of the SEC account this time as well. Recall that a day before the official publication about the #bitcoin ETF, a message about the approval appeared on the SEC's page, causing a spike in the digital gold price. The SEC later stated that the account had been hacked.
So, #ETH to the moon?
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#Analysis #Bitcoin
🪙 The #BTC/#USDT price continues to consolidate near its all-time highs. Over the past week, the market received positive fundamental news regarding new #ETF instruments (this time for #Ethereum), which prompted traders to buy more actively.
As a result, since the beginning of May, the BTC price has been in a short-term upward trend after testing the lower boundary of the range.
📈 The range itself is formed between the support zone of 57 000 - 60 900 and the zone of resistance of 72 000 - 74 000. Recently, the #BTC price tested the first strong resistance level at 72 000. If buyer activity remains strong, a potential scenario to consider is the resumption of the bullish trend and further updating of highs with targets at the 80 000 level.
📉 An alternative scenario is possible if buying pressure is insufficient to break through the 72 000 - 74 000 resistance zone. In this case, it is likely that consolidation will continue, followed by a pullback to the lower boundary of this consolidation and a test of the support zone within the 57 000 - 60 900 range.
this is not a trading recommendation
As a result, since the beginning of May, the BTC price has been in a short-term upward trend after testing the lower boundary of the range.
this is not a trading recommendation
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#Opinion
🔷 The approval of spot #ETF on #ETH was a political decision
According to ARK Invest CEO Cathie Wood, the cryptocurrency issue became part of the Biden administration's agenda after Trump began using cryptocurrencies in his election campaign. Before this, none of the companies vying for ETF approval anticipated it, and the SEC was not engaging in dialogue with any of them🤔
Meanwhile, experts expect an #Ethereum-ETF by the end of June.
According to ARK Invest CEO Cathie Wood, the cryptocurrency issue became part of the Biden administration's agenda after Trump began using cryptocurrencies in his election campaign. Before this, none of the companies vying for ETF approval anticipated it, and the SEC was not engaging in dialogue with any of them
Meanwhile, experts expect an #Ethereum-ETF by the end of June.
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