Bitcoin crosses $47K as ETF inflows steadily outpace outflows: After remaining range bound between $42.5K-$43.5K for the past few weeks, bitcoin (BTC) jumped higher on Wednesday evening and once again broke through the $45K level for the first time since the launch of the spot bitcoin ETFs a month ago. On Friday, BTC rose past $47K. Continued demand for the...
Weekly Market Update - February 2nd 📨
Fed Votes to Hold Interest Rates Causing Stocks to Tumble
SEC Set to Approve Ethereum ETF by May
Record Breaking Trading Volumes for Solana Dex in Wake of LSE:JUP Airdrop
Ethereum ETF:
According to a new report by British multinational bank Standard Chartered, the U.S. Securities and Exchange Commission...
Bitcoin hangs above $40k as ETF-led rally fizzles: After peaking at FWB:49K immediately after the launch of the ETFs, the price of bitcoin (BTC) has since dropped over 20% in the two weeks following, reaching a low of ~$38.5k on Tuesday. BTC is now trading back at the levels seen at the start of December, retracing the rally experienced in the build up to the...
Bitcoin consolidates around FWB:41K -$43k as ETF excitement settles: In the wake of the much anticipated approval of spot bitcoin ETFs last week, bitcoin (BTC) prices initially jumped to FWB:49K before suddenly dropping to FWB:42K as investors processed the news of approval and analyzed the data on the flows and volumes from the first day of trading....
Spot bitcoin ETFs begin trading on US exchanges: On Wednesday, the SEC approved the launch of 11 spot bitcoin ETFs, and trading launched on Thursday. The approval of US-based spot bitcoin ETFs marked a historic day for bitcoin and crypto as a whole, opening the door to an entirely new set of retail and institutional investors. As trading started Thursday...
Bitcoin gains 156% in 2023: Bitcoin (BTC) managed to close out 2023 with an impressive 156% gain, rising from ~$16k to over FWB:42K as the leading crypto asset regained credibility following numerous high profile collapses in the previous year. Throughout the second half of 2023, BTC prices generated strong momentum as confidence grew around the possible...
Bitcoin has another choppy week but finishes strong: Mirroring last week’s trend, the price of bitcoin (BTC) had a choppy week, with BTC testing the $40.5k level on Monday morning before bouncing back above $43k. Bitcoin finished the week strong climbing to around $44k by Thursday.
BlackRock amends bitcoin ETF application to allow for cash creation and...
Multiple 2024 tailwinds drive bitcoin higher: Bitcoin reached new annual highs this week driven by multiple tailwinds, including potentially imminent ETF approvals, the upcoming Bitcoin halving, and a possibly lower interest rate environment. Notably, BTC broke above $40k for the first time in over a year on Monday, with no signs of slowing. BTC was hovering...
Bitcoin climbs as SEC speeds up spot bitcoin ETF review process: Bitcoin (BTC) continued to grind higher this week, reaching a new yearly high of over $38.5k, as market participants continued accumulating BTC ahead of the potential ETF approvals at the start of next year. The SEC announced it would open the comment period for its review of applications...
Bitcoin and crypto markets react to the Binance settlement: Bitcoin (BTC) prices and the wider crypto market saw a sudden drop on Tuesday morning after news broke that the DOJ was set to announce crypto enforcement action at a 3pm ET press conference. Following reports of the Binance settlement, BTC broke below the $37k level to as low as ~$35.8k later Tuesday...
Bitcoin and ether dip early, but recoup some gains later in the week: Bitcoin and ether had a sudden drop on Tuesday as equity markets roared following a favorable inflation report. Both cryptos, however, retraced losses quickly. Ether was also boosted on Thursday as BlackRock filed its S-1 for a spot ether ETF with the SEC.
Solana’s upward trajectory...
Bitcoin rises above $37k as ETF momentum continues: Bitcoin rose throughout the week before settling around the $37k range by Friday. The price of BTC was largely in consolidation mode early in the week, which shifted to an upward trajectory after reports surfaced that an eight-day window had opened for the SEC to approve spot bitcoin ETF applications. BTC...
Bitcoin holds onto gains as a golden cross appears: Bitcoin (BTC) consolidated around $35k USD this week after its price action exhibited a “golden cross” on the daily BTC chart. Market observers have suggested that such price action could portend a continued upward trajectory for the leading crypto.
Sam Bankman-Fried found guilty on all counts: Sam...
Bitcoin hits $35k amid more encouraging ETF news: BTC soared from ~$30k USD to ~$35k earlier in the week, before settling around $34k USD by Friday. Spurring the price action, news began circulating on Monday that BlackRock’s spot bitcoin ETF, with the ticker IBTC, was listed with the DTCC, leading to speculation that the ETF was nearing approval.
Bitcoin...
False ETF news gives bitcoin a boost: Crypto markets were frenzied on Tuesday after Cointelegraph posted an unconfirmed tweet that the SEC had approved a spot bitcoin ETF. Bitcoin prices jumped over $2,000 USD in minutes before the news was deemed false.
GBTC discount to NAV continues to tighten: The discount between shares of Grayscale’s Bitcoin Trust...
US consumer price index (CPI) remains sticky: CPI data released on Thursday did not show a further cooling in inflation in the US economy, further muddying the Fed’s decision making on the future interest rate path.
Federal Reserve unable to reach a firm decision on interest rate hikes: Minutes from the Fed’s last meeting show wavering opinions on interest...
Bitcoin and ether have another rollercoaster week: Following a pop early in the week as the US Congress narrowly avoided a government shutdown, bitcoin and ether were up and down, settling around $27.5k USD and $1,600 USD, respectively, by Friday.
Sam Bankman-Fried’s saga continues as trial starts: SBF’s criminal trial began this week in New York City. In...
Bipartisan Group in Congress urges spot Bitcoin ETF approval as SEC punts: Bitcoin saw a mid-week bump as a bipartisan group of Congressmembers urged SEC chair Gensler to immediately approve a Bitcoin ETF. The SEC delayed a number of spot ETF application decisions as a US government shutdown looms. By the end of the week, bitcoin was trending higher, sitting...
