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XRP WILL PUMP WITHIN 2 WEEKS!!Looks like a massive pump will come withing the next 2 weeks here. The descending trendline price compression is slowly coming to an end. I EXPECT HIGHER PRICES IN THE LONG-TERM STILL BULLISH! Calculate Your Risk/Reward so you don't lose more than 1% of your account per trade. Every day the charts provide new information. You have to adjust or get REKT. Love it or hate it, hit that thumbs up and share your thoughts below! This is not financial advice. This is for educational purposes only.
Long
by Navitility
What does the arrival of Spot Bitcoin ETFs mean for US investorsAfter a long journey, the first spot bitcoin exchange-traded funds (ETFs) were approved in the United States of America. This is the latest step on the path to bitcoin, and digital assets more generally, becoming mainstream. To help clarify how this chain of events unfolded, and where the story could go next, this is an edited summary of a discussion with Ryan Louvar, Chief Legal Officer at WisdomTree, which took place in full on the Crypto Clarified podcast1. The main points covered were: The main obstacles that had to be overcome for approval The reasons why a spot bitcoin ETF is a positive for investors and digital assets’ place in a portfolio as a diversifier What to expect in terms of uptake over different timeframes What to expect in the near future as the asset class becomes more mainstream Benjamin Dean (BD): Ryan, happy bitcoin spot ETF effective date to you. Ryan Louvar (RL): It’s a super exciting day. Even going back six months ago, I can’t say I was on the optimist side. But seeing the Securities and Exchange Commission (SEC) grant an effective registration statement to allow bitcoin ETFs, as well as the listings, is great. Obstacles to overcome BD: What were those final obstacles that had to be overcome and how have almost a dozen different issuers had their applications approved and become effective? RL: I was on a panel at Bitcoin 2021 with a couple of other ETF issuers. We were asked to predict if we thought that 2021 would be the year. There was some optimism because the new chairman of the SEC, Gary Gensler, had spoken at MIT about this topic. However, there were hurdles before through that prior SEC administration. I said that there was a decent chance 2021 would be the year. But we have a new SEC administration now, and the similar denials continued. The rationale was that there just aren’t enough protective mechanisms in place to create a market that would be resistant to fraud and manipulation. Ultimately, the focus was on the spot bitcoin market, and the SEC said there needs to be a regulated spot bitcoin market of sufficient size to be able to trade. This was really against historical precedent because if you think about other spot markets like gold in particular, those ETFs had been approved and there isn’t a regulated gold market, certainly not one overseen by the SEC, and not one as had been described by the SEC as a requirement. A watershed moment occurred when the SEC allowed futures ETFs, including bitcoin futures ETFs. They allowed a percentage of the underlying exposure to be futures and then allowed 100% futures exposure. Even at that point, WisdomTree was the first ETF to have any bitcoin futures exposure, with under 5% in one of our US-listed ETFs. The thought was that we were right there, almost at the finish line to then have a spot ETF. We chose at the time to have limited exposure because we thought that it had the potential to be a diversifier in a portfolio. We chose not to launch a 100% bitcoin futures product just because of the potential issues in a 100% bitcoin futures product, such as contango and not tracking the price of bitcoin. We were very steadfast in our belief that a spot bitcoin product was the best execution for investors seeking exposure to the spot price of bitcoin. We leveraged our experience in Europe where we have a successful crypto exchange-traded product (ETP) range including a spot bitcoin ETP. There was really no action from the SEC until they got sued by Grayscale. There was a lawsuit from Grayscale, and they said that the SEC’s decision here, the denials, were just arbitrary and capricious. A court agreed with them. It’s not often that the SEC loses. The court made it possible for the SEC to essentially include additional information for their decision. Based upon the past ten years, I thought that the SEC would continue to deny an approval and produce additional reasons for it. Ultimately, they had until 10 January to make that decision. Going back just three months ago, it wasn’t clear what path the SEC was going to take. It only became clear once the SEC started to comment on the prospectuses after a few years of silence, that cleared the way for progress. Then you saw ETF issuers filing updated S-1 type of registration statements that include the prospectus. This was really a couple of months ago. Then you saw a flurry of activity from the regulatory side, updated prospectuses every couple of weeks, then updated prospectuses every couple of days, to now, we are launching this morning. Yes, that’s the history, it’s hard to believe. It’s really been truly historic. I mean, just the historical, call it a roller coaster ride. Today we’re excited to be an issuer launching a spot bitcoin ETF, but it’s also historic to have all the other issuers launching as well. Our experience in ETFs both in Europe and digital assets is going to be a differentiator for us. It will be an interesting few months for sure. Role in a portfolio as a potential diversifier BD: Do you have any views or thoughts around how one should conceive the coming days, months, and years? What does success look like? RL: If we look back on the birth of the US ETF industry with the SPDR, it took a couple of years for the SPDR to really take off and gain traction. Now it’s over 20 years old, and I think it’s over $300 billion at this point. I think we’ll see the same with bitcoin, in taking time to fully gain traction. Going back a couple of years, financial advisors told us they have clients who’d like to have at least a portion of their portfolio in an asset that can serve as a diversifier. It’s got to be the right client as bitcoin is a volatile asset, so there’s risk there. Bitcoin can certainly serve its place in the right client’s portfolio. Those advisors will now be trying to work with their clients to understand the full financial picture. Their client might say, “By the way, I have bitcoin as well and it’s sitting in my personal wallets or on this third-party platform or wherever.” So, really, by having the vehicle that's suited to many investors in the ETF, it will really help from a financial advisory standpoint as well as a general investor standpoint to have that access. The other thing is the transparency. ETFs have to disclose their holdings, so the amount of bitcoin a spot ETF holds will be available on the issuer website every day. Holding bitcoin in your own wallet can have some merit for a lot of people, but many don’t understand that mechanism or don’t want to. An ETF is a wrapper they do understand, and it comes with traditional third-party oversight from a trusted organisation like WisdomTree. It’s bringing a lot to the table but like any new asset, I think it’s going to take time for the marketplace to really absorb it. Certainly, a lot of the traditional ETF platforms are going to have to conduct diligence. A lot of that requires some track record, six months in some cases for some assets. I think there will be demand, but it’s a journey. Today’s just the beginning. It’s not dissimilar to a floating rate Treasury ETF. Treasuries are renowned for being plain vanilla, but that took a little while to gain a bit of traction. Bitcoin is a very different asset to treasuries in terms of risk profile, but it can potentially have its place. What could uptake look like in the near term? BD: It’s an interesting moment in the United States because the couple of years really, have been negative and so acrimonious. You go to Asia or Latin America and people don’t have the same hangups. But in the US, it has been different. RL: I was surprised when I travelled to many Asian countries over the summer and saw that bitcoin is widely available and used as a currency. Here in the US, being US-centric, we sometimes lose that perspective. We’re getting used to inflation in the US but not hyperinflation. So, it’s a great point that we don’t see in the US much, so it surprised me during my travels abroad. Where does the digital asset industry go from here BD: Looking at the US, what does this round of approvals mean for the digital asset industry? What do you see coming forward? RL: I think the next turning point is Ether, the second largest cryptocurrency. There are now ETFs that hold Ethereum futures. So, if you think about the history, ETFs were first allowed by the SEC to hold bitcoin futures and then some months later, Ether futures. I do think those will be the next that might get attention. To me, the biggest thing is that bitcoin and digital assets more broadly are being talked about as investable assets. For us at WisdomTree it’s important because we’re not only focused on ETFs, which has been our historical focus, we’re also bringing a direct-to-retail platform to investors in the US. Right now, they can directly access bitcoin via an app on their phone. They can directly access Ether, SEC-registered blockchain-enabled mutual funds and work with those in one portfolio. So, I think having these avenues and bringing more attention to the asset class is only going to put a spotlight on how investors might be able to think about this new asset class and bitcoin in particular. Sources 1 open.spotify.com This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
CME:BTC1!
by aneekaguptaWTE
XRP: FINALLY💥 RIPPLE Victory in SEC CaseHi Traders, Investors and Speculators of Charts📈📉 Congratulations to all the XRP HODLERS 🤩🥂 (quick recap) ...The SEC case against Ripple was a legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs, the company behind the XRP cryptocurrency. The SEC sued Ripple in December 2020, alleging that XRP is a security and that Ripple had violated securities laws by selling XRP without registering it with the SEC. Ripple Labs denied the SEC's allegations, arguing that XRP is not a security but a digital currency. The case went to trial in February 2023, and on July 12, 2023, Judge Analisa Torres ruled in favor of Ripple Labs. Torres found that the SEC had failed to adequately prove that XRP is a security, and she dismissed the case. The ruling is a major victory for Ripple Labs and the cryptocurrency industry as a whole. It could have far-reaching implications for the regulation of cryptocurrencies in the United States. 👉The SEC failed to prove that XRP is a security. 👉The ruling could have far-reaching implications for the regulation of cryptocurrencies in the United States. 👉The ruling is a major victory for Ripple Labs and the cryptocurrency industry as a whole. This furthermore confirms my bias for the beginning of AltSeason 2023, check it out here: _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Editors' picks
KRAKEN:XRPUSDLong
by CryptoCheck-
116
Bitcoin ETFs now available on TV. Easy Money As Never Before 😅Bitcoin ETFs now available on TradingView NASDAQ:IBIT - iShares Bitcoin AMEX:BITB - Bitwise Bitcoin AMEX:DEFI - Tidal Bitcoin AMEX:ARKB - ARK Bitcoin AMEX:GBTC - Grayscale Bitcoin AMEX:FBTC - Fidelity Bitcoin AMEX:BTCW - WisdomTree Bitcoin AMEX:BTCO - Invesco Bitcoin NASDAQ:BRRR - Valkyrie Bitcoin AMEX:HODL - VanEck Bitcoin AMEX:EZBC - Franklin Bitcoin SEC officially approves BTC Spot ETFs Tip #1: use TV search box to filter, find, and sort all Bitcoin funds, just like the attached screenshot. Tip #2: use TV search box to filter, find, and sort all Bitcoin futures, just like the attached screenshot. Tip #3: Long 1st, Short 2nd Tip #4: Enjoy the Money 🤣🤣🤣
CME:BTCZ2024
by Pandorra
Market Update - January 12 2024 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 morning, BTC rose to FWB:49K before paring back gains to sit below $45k by Friday morning. Over $4.6 billion traded across all spot bitcoin ETFs on Thursday, likely setting a record for the highest day-one volume for a single type of ETF. Ether surges as focus shifts to potential ether ETF: Ether (ETH) had been struggling in comparison to BTC over the past few months as attention centered around the bitcoin ETF applications, with the ETHBTC pair hitting its lowest level since April 2021 at 0.04788. However, following Tuesday’s bitcoin ETF head fake, the pair jumped to 0.052 suggesting a rotation out of BTC and into ETH for a catch up play and an expectation that the narrative will shift toward a potential ether ETF approval later this year. This was further evident on the actual approval Wednesday, with the ETHBTC continuing to rally higher, currently trading near 0.06 as of Friday morning. Inflation ticks up as interest rate cuts expected in 2024: US equities rose steadily this week as investors awaited inflation data released on Thursday. Thursday’s data showed a mild 0.3% increase in the consumer price index (CPI) for December, reflecting a 3.4% yearly increase. Estimates had been for a 0.2% December increase and a 3.2% annualized increase. Altcoins perform well as total crypto market cap nears $1.8 trillion: Much of the wider crypto market saw price appreciation this week, with some leveraged ETH and BTC plays showing good returns. Ethereum Classic (ETC) is trading up more than 55% over the past seven days, while Lido DAO (LDO) added 20% over the same period. The total crypto market capitalization is now approaching the $1.8 trillion mark, its highest level since April 2022, prior to the Terra/LUNA collapse. Circle, USDC issuer, files for initial public offering (IPO): On Thursday, Circle announced that it had filed a confidential S-1 document with the SEC, as it seeks to launch an initial public offering (IPO). While the announcement was light on details, Circle had previously announced in 2021 that it planned to go public via a SPAC, with a $9 billion valuation as of February 2022. 🎭 Topic of the Week: Why was Bitcoin created? 👉 Read more here
GEMINI:BTCUSD
by Gemini
BTC - It is a matter of time ⏱Hello TradingView Family / Fellow Traders, 📈 BTC has demonstrated an overall bullish trend, trading within the ascending channel outlined in red. Following a rejection at the 48,000 - 50,000 resistance range, BTC experienced a decline and is currently approaching the lower red trendline. Additionally, the zone between 44,500 and 45,000 serves as a robust support area. 🎯 Therefore , the highlighted red circle signifies a significant zone to consider for potential buy setups. This area is noteworthy as it marks the convergence of the blue support and the lower red trendline, acting as a non-horizontal support. 📚 In accordance with my trading style: As BTC nears the red circle zone, I will actively search for bullish reversal setups to capitalize on the anticipated next bullish impulse movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Long
by TheSignalyst
25
SEC Approves BTC ETFNo BTC Fireworks After Long-Expected SEC Ruling on Crypto Spot ETF. -The champagne bottles have gone to the main competitor Ethereum and it looks like the party is just getting started... The BTC ETF does not change the value of the underlying asset, which is still not regulated and has no real use case. This simply allows more people to speculate. After the SEC posted about their X(Twitter) account being hacked and hackers posted about the news retail investors jumped the gun to close their bullish position it may have been just the liquidity that the big "boys" needed to place their orders, since today unexpectedly the ETF was finally approved. What do you think will happen next?
BINANCE:BTCUSDLong
by Elite_Forex
Bitcoin ETFs coming soon: what could happen?Hello, folks! If this is your first time reading one of my ideas, welcome, hope you enjoy it. If you are a regular visitor of my ideas, thank you! Let's discuss the fuss around Bitcoin Exchange-Traded Funds (ETFs). With 8 Bitcoin ETFs awaiting regulatory approval, decisions are anticipated between January and March 2024, let's consider how this could shake up Bitcoin's price, the wider crypto market, investor confidence, and the overall financial scene. 🧙🏽‍♂️ Spot ETFs: A Direct Link to Bitcoin's Supply SPOT ETFs are unique because they require the actual holding of Bitcoin by the fund. In an environment where Bitcoin's availability on exchanges is at an all-time low, these ETFs could significantly influence the market's supply-demand dynamics. The approval of SPOT ETFs is likely to ramp up demand significantly. Given Bitcoin's capped supply, this increased demand could lead to substantial price surges, potentially setting new all-time highs. 🧙🏽‍♂️ Investor Sentiment: A Confidence Boost For investors, SPOT ETFs represent a more secure, regulated path to Bitcoin investment. This could draw in a fresh wave of investment, both from retail and (more importantly) institutional sectors, think pension funds for example. This could potentially result in elevating Bitcoin's price and market stability in a way never seen before. 🧙🏽‍♂️ The Financial Landscape: Embracing Digital Currencies On a larger scale, SPOT ETFs indicate a significant stride in incorporating cryptocurrencies into mainstream finance. This move could spark further innovation and adoption of digital currencies in diverse financial services. While some banks are now known to block transactions related to crypto, or even entire accounts, it's not unimaginable that they will start offering crypto services themselves. An approval of several ETFs would incorporate crypto into Wall Street. 🧙🏽‍♂️ The First-Mover Scenario: A Case for Simultaneous Approval In the realm of these ETF applications, the potential for a first-mover advantage looms large. Here's a breakdown of the key players and their decision dates: Ark/21 Shares Bitcoin Trust: 1/10/24 Bitwise Bitcoin ETF Trust: 3/15/24 BlackRock Bitcoin ETF Trust: 3/16/24 VanEck Bitcoin Trust: 3/16/24 WisdomTree Bitcoin Trust: 3/16/24 Valkyrie Bitcoin Fund: 3/16/24 Invesco Galaxy Bitcoin ETF: 3/16/24 Fidelity Wise Origin Bitcoin Trust: 3/16/24 If one of these ETFs gets approval ahead of the others, it could dominate investor interest. To avoid this and foster a healthier, more competitive market, regulators might consider approving multiple ETFs simultaneously, ensuring no single fund unfairly corners the market. This means that we might see approval of several ETFs in January 2024, less than 2 months from now! 🧙🏽‍♂️ Conclusion: A Turning Point for Crypto? The potential approval of Bitcoin SPOT ETFs marks a pivotal moment in the crypto narrative. It's a validation of Bitcoin's growing influence and a beacon for a more inclusive crypto market. For the crypto community, it's a period of pride and anticipation; for cautious investors, a new pathway into the crypto realm; and for the financial world, a step toward embracing the digital currency era. Let's eagerly watch together how this story unfolds. Here's to the dynamic and ever-evolving world of cryptocurrencies! 🥂🚀🌕 ❓ Questions for you: What do you think will happen? Do you expect one or more ETFs to be approved in January? What do you think will be the effect on price of that happening? How will you trade/invest based on your expectations? Leave your answers to these questions in the comments below. Oh, and if you enjoyed reading this, like/boost, follow and shares are highly appreciated!
Editors' picks
COINBASE:BTCUSD
by Nico.Muselle
147
UNDERSTAND THE BITCOIN ETF - PRICE ACTIONHello Family! 10th January of 2023. We are hours away from the Approval, delay or Rejection of the Bitcoin ETF. We need to be careful since the Bitcoin price still needs to confirm the 30-32k area as a SUPPORT. WE've done this in every Bitcoin cycle after we created a BOTTOM structure and going into a RETRACEMENT. We are in the biggest RETRACEMENT levels. This is a critical zone where the price could get rejected and where many expert traders are taking profit from the ACCUMULATION zone (15-25k) So, right now Bitcoin has huge risk of ROI vs potential downside. If you are waiting on a sideline, It would be better to wait for the MACRO correction, or wait if the Bitcoin Dominance starts to fall and liquidy goes into Altcoins. Legendary day. The force be with you.
BITSTAMP:BTCUSD
by xReve
BTC - Next Stop 50k 📍 Unless!Hello TradingView Family / Fellow Traders, In my latest analysis, BTC successfully surpassed the 45,000 resistance and traded higher. However, yesterday, BTC faced rejection at the 48,000 level and the upper boundary of the orange wedge pattern. Now, what's next? 📈 BTC is anticipated to remain bullish , and we anticipate a potential movement towards the weekly resistance zone between 48,000 and 50,000, as long as the 44,500 support level is maintained. 📉 In the event of a downward break below the lower red trendline and the 44,500 support level, we expect a continuation of bearish movement until reaching the lower boundary of the orange wedge pattern, approximately around 42,500. Which scenario do you believe is more likely to occur first, and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
6
SEC Manipulates Bitcoin with Fake ETF Approval News-Intentional?Trigger Warning: This video may offend those who are religiously dogmatic in their political affiliations. Do not watch if you prefer not to have your gods critiqued. I had just put out a video earlier this morning warning you all that the SEC and Gary Gensler may pull some tricks out of their hat. A few hours later, the SEC puts out a false tweet, liquidates millions, and claims that their account was compromised for the first time in their X history. Something very much doesn't smell right here folks. But, unfortunately, none of this surprises me. I literally titled another video a few days ago, "Expect the Unexpected". Now, we can see firsthand exactly the type of shenanigans I am referring to in these two previous videos.
INDEX:BTCUSD
by stewdamus
Bitcoin Price Action around the FAKE SEC TweetToday at 4:11 PM EST (UTC-5) the @SECGov Twitter account posted confirmation that Bitcoin ETFs had been approved. Bitcoin price spiked immediately on this news but the following price action is most interesting. The hacker that made the Tweet, presuming the news would create a large, sustained bullish move, likely LOST MONEY on his illicit trade. Tradingview restricts Ideas to 15m or higher so see the 1m chart below: The fake Tweet caused a rise in price up until 4:15. Price then sold off all the way until 4:26 and only began to recover when the SEC regained control of their account and posted an update refuting the claim. What is interesting about this is that within 4 minutes it had become a "sell the news" action. I continue to think that the ETF approval news will in fact be a "sell the news" event when it occurs and this price action gives me some confirmation.
INDEX:BTCUSDShort
by norok
3
Bitcoin (BTCUSDT) (1W)Below the technical analysis of BINANCE:BTCUSDT Timeframe: 1 week The main supports and resistances are indicated in the idea. A trendline starts from the green support: if this were to be invalidated by touching 1500-1600, a negative scenario would open up in the short term for ethereum. The narratives on spot ETFs could help bitcoin rise towards the ath (and more) over the green area on the top. This bullish cycle could be the last in terms of % returns for bitcoin: the price at the end of the year, thanks to etfs, could easily be 140-160k. Today marketcap: 910B
Long
by mcpnz
1
Bitcoin Turns Down For Deeper Correction. Strong Support At 40k.Stocks are coming down at the start of January as some portfolio adjustments and profit-taking occurs at the start of a new year to avoid 2023 tax year. We can also see some dollar rally, but normally these flows at the start of the year are temporary and can be reversed later this month when flows will normalize. We also have a FED minutes today, but US PMI and NFP much more important this week I think. Looking at bitcoin, its coming sharply down on speculation that SEC will reject ETF. Some nice support is at 40k.
BITSTAMP:BTCUSD
by ew-forecast
BTC ETF Approval. Expect the Unexpected.Happy New Year Traders! With the likelihood of Bitcoin ETF approval in the cards, there are a plentitude of zealous crypto traders on the crypto rocket anticipating destination moon. But what if it doesn't turn out the way everyone expects? What if the MMs shake out the pockets of dumb money and over-leveraged moon boys? Or worse yet, ETF approvals are delayed yet again? Nothing is really certain until it's settled. In this episode, we're going to discuss a few indications that the possibility of more sideways to down action is really not that far-fetched. Understanding this perspective can help us to trade safely and avoid being rekt.
INDEX:BTCUSD
by stewdamus
Bitcoin - BTCUSDT - In Wedge PatternGreetings, BTC has been struggling to breakout and then stay above $44K. With time since the previous move above $38K resistance, the top trendline has been descending. Along with that, the recent bounces have created an ascending bottom trendline. If we extend this bottom trendline back, it aligns well with the previous resistance very well which makes it a strong support. These two lines are converging on Jan 10, 2024 which is the deadline for SEC's decision on Bitcoin ETF's - too much of a coincidence? Anyway this convergence is creating a wedge pattern which typically gives 50/50 chance to both up and down move. However as mentioned, the bottom trendline is a strong support and has a steeper angle so we would give a slight edge to bulls here. With SEC's decision coming up in a few days, we expect high volatility in the markets. All investors should manage their risk. From our end, we will provide our analysis as frequently as we can. Please SUBSCRIBE to stay up to date! Note: This is not financial advise and shall only be used for educational and/or entertainment purpose. Please do your own research before investing. Crypto Markets are highly volatile and you are responsible for the risk of losing your entire investment.
COINBASE:BTCUSD
by figuring_out_the_dream
BTCUSDT Next big resistance 1. Current Trend : Bitcoin is currently experiencing a minor bullish trend, which means its price is gradually increasing. 2. Short-term Price Movement : There is an anticipation of a temporary pullback in Bitcoin's price. This pullback refers to a short-term decline in the price, which is normal in financial markets even during an overall upward trend. 3. Institutional Investment Strategy: The expected pullback is seen as a strategic opportunity for larger investors or institutions. These entities are predicted to buy Bitcoin during this dip in price, with the intention of investing at a lower cost. 4. Impact of SEC's ETF Approval: A key factor in this prediction is the potential approval of a Bitcoin ETF by the Securities and Exchange Commission (SEC). The approval of a Bitcoin ETF would likely lead to increased demand and higher prices, as it would make Bitcoin more accessible and legitimate to a wider range of investors, including those who prefer traditional investment vehicles. 5. Post-ETF Approval Scenario : Assuming the SEC approves the Bitcoin ETF, the prediction is that Bitcoin's price will see a significant increase. This rise would be fueled by the influx of new investors and increased mainstream acceptance. 6. Long-term Outlook: The long-term outlook for Bitcoin, post-ETF approval, is positive. As more institutions and individual investors gain confidence and invest in Bitcoin, its price is expected to stabilize at a higher level than its pre-ETF approval price. In conclusion, this prediction sees a short-term pullback in Bitcoin's price as a strategic buying opportunity for institutions, leading up to a significant rise in value following the potential SEC approval of a Bitcoin ETF. This scenario is contingent on several factors, particularly regulatory developments, and thus carries inherent uncertainty typical of financial market predictions.
Long
by Aibullz
Bitcoin Spot ETF Approval In SightBitcoin Spot ETF Approval In Sight As SEC Advances Talks With Asset Managers. SEC's advanced talks signal potential Bitcoin Spot ETF approval, paving the way for investor engagement in the tightly regulated market. In a significant development, talks between U.S. regulators and major asset managers regarding Bitcoin Spot ETF have progressed to crucial technical details. This signals a potential shift in the Securities and Exchange Commission’s (SEC) stance toward approving exchange-traded funds (ETFs) tracking the BTC price. Meanwhile, 13 firms including Grayscale, BlackRock, Invesco, and ARK Investments, with pending applications, are at the forefront of these discussions. Bitcoin Spot ETF Discussions Progress As SEC Engages In Advanced Talks The SEC, historically cautious about approving cryptocurrency-related products, is now delving into intricate aspects like custody arrangements, creation and redemption mechanisms, and investor risk disclosures, Reuters reported citing industry executives. Meanwhile, this shift follows a court ruling stating the SEC’s error in rejecting Grayscale’s ETF application, prompting the SEC to engage more substantively with ETF issuers. Investors eyeing regulated avenues to invest in Bitcoin see ETFs as an optimal solution. A Bitcoin Spot ETF approval would open the gates for wary investors to access the cryptocurrency through the tightly regulated stock market, with an anticipated demand of up to $3 billion in the initial days. Meanwhile, executives from major firms, including BlackRock, Grayscale, Invesco, and 21 Shares, working with ARK, have been meeting with SEC staff since September. According to the report, recent discussions, previously focused on Bitcoin’s susceptibility to manipulation, now encompass nuanced technicalities. In addition, memos reveal an acceleration in the SEC’s information requests and meetings even at the office of SEC Chair Gary Gensler. Notably, the recent bullish trend in Bitcoin prices aligns with the positive trajectory of these discussions. Meanwhile, the SEC must make a conclusive decision on ARK’s filing by January 10, given its priority status. According to the industry executives, the in-depth nature of these discussions suggests a potential approval of ARK’s application and possibly several others among the remaining 12 in the coming New Year. Challenges And Future Prospects While optimism surrounds these developments, the SEC remains tight-lipped about potential approvals. Key concerns, such as the settlement mechanism of whether cash or “in-kind”, still pose challenges. In addition, SEC Chair Gary Gensler, a crypto skeptic, has not provided a timeline for decision-making but acknowledged the agency’s consideration of Bitcoin ETF filings. However, some see the Grayscale ruling as limiting grounds for rejections, adding to the momentum. Notably, issuers, confident in addressing market manipulation concerns through surveillance arrangements with exchanges like Coinbase, await a potential breakthrough. Meanwhile, the evolving dynamics between the SEC and ETF issuers suggest a paradigm shift in the regulatory landscape, opening new avenues for investors to engage with Bitcoin.
BINANCE:BTCUSDLong
by DEXWireNews
Updated with Levels. (We stay LONG!)Hello, Traders! 👋 First of all there is a video explaining this chart: While we delve into Bitcoin chart, it's crucial to address the elephant in the room: Binance's recent legal woes: Binance, helmed by Changpeng "CZ" Zhao, faced a significant setback with a $4.3 billion penalty for violating anti-money laundering and sanctions laws. CZ himself pleaded guilty and agreed to a $50 million fine, stepping down as CEO. Such events remind us of the ever-evolving landscape of crypto trading. 🌍⚖️ Key Takeaways: Binance's Legal Challenges: The world's largest crypto exchange's troubles underscore the importance of regulatory compliance in the crypto sphere. This situation might impact market sentiment, so let's stay vigilant. 🚨📉 news link Impact on Bitcoin: Despite these external pressures, Bitcoin shows resilience. We're closely monitoring how these developments might influence BTC's support and resistance levels. 📊💪 Technical Analysis Breakdown: Channel Dynamics: Amidst the market uncertainties, our focus on the channel's middle as a significant support/resistance level remains steadfast. 🔄 Fibonacci Insights: The $37,600 mark is a key level. We're bullish above and bearish below this point, navigating the waves of market reaction to Binance's news. 🐂🐻 Fundamental Factors: The crypto world is adapting to regulatory shifts. With such changes, fundamentals like ETFs and Fed policies become even more crucial. 🌟📈 Trading Strategy: Adapting to Changes: The Binance situation might cause market ripples. Stay adaptive and ready for potential shifts in our trading strategies. 🔄🎯 Long vs. Short: Bullish above $36,000; bearish below. We're watching how the market digests Binance's news and its impact on BTC. 📈📉 The Big Picture: Keeping our long-term view, we aim for the $46,000-$49,000 range, while being cautious of interim dips. 🎢📊 Final Thoughts: In these tumultuous times, remember the power of hedging. Balance your positions to navigate through this dynamic market landscape. 🛡️⚖️ Stay tuned for more updates, and let's sail through these challenging crypto seas together! 🚢💼 One Love, The FXPROFESSOR ♡ FUD: Fear, uncertainty and doubt: I like to say Despair, it reflects most of the leveraged traders emotions better than just 'Doubt'.... ( ps. the last SEC FUD: )
Long
by FX_Professor
2
27/11/23 Weekly outlookLast weeks high: $38451.2 Last weeks low: $37035.2 Midpoint: $35619.1 Bitcoin continues its choppy price action as the 38.5k resistance remains intact despite 4 separate attempts to break above. This type of price action has allowed other altcoins to run up double digit gains, however the microcaps and meme coins are benefiting the most in recent days and that usually spells a big move for BTC is coming soon. Consolidation under key resistance along with multiple attempts chipping away at the key level point towards a break above 38.5k soon. If this were the case I do think care would need to be taken in going long as the bulls do seem to be running out of steam as of late as investors/traders look to sell positive news instead of adding to longs, a sign of an exhausted rally. Personally I think a bull trap would be the most painful move the market could make here, a swing fail pattern taking liquidity above resistance before falling back down and giving us a healthy correction going into the new year, perhaps targeting 32.5k area. We also still have the looming ETF decision which would kickstart the real Bullrun, however I do believe should that happen there would be more FUD on the lead up to that decisions so institutional investors can get BTC at a better price. It did seem like that was the goal with the BINANCE hearing last week however the market did not react as negatively as the SEC would have hoped.
by ProR35