Dear Readers,
The Big Day has come in the Crypto market.
The Bitcoin Spot ETFs are lined up before US Securities and Exchange Commission for Approval.
The most important things is 21 ARK Share's BTC ETF's final round verdict is by tonight, which expected a lot of heat among the global crypto market and all the enthusiasts.
This triggers a lot of jerk among the crypto world.
At this juncture, the hackers hacked the SEC's Twitter Page (X Page) and posted that the ETF was approved. But, SEC Chairperson Gary Gensler immediately responded that it was hacked. This sudden coup caused 140 USD million liquation in the market.
From this, once again we come to know about the important of Multi Factor Authentication- or atleast 2 Factor Authentication (2FA) to all our social media accounts to prevent any possible misuse.
The former SEC Chair, Jay Clayton who was in the position from 2017-2020 in a CNBC TV Show, “Squawk Box” said that the time has undergone various developments from his tenure till now. And he said that SEC has no other way but to approve the BTC ETF this time.
Various experts in the crypto industry also positive on this ETF approval.
Once this BTC ETF gets approval from the SEC, it will create various prospects on this crypto adoption on the mainstream financial eco-system. This would create stability around the Bitcoin. The approval will gain confidence among the wider investors on the crypto market and the entire crypto investment instrument will also be considered as a matured investment options.
There may be various other coins ETF application will also be submitted before the SEC for approval.
At the time of writing this article, the global cryptomarket stands at 1.71 Trillion USD, which is down by 0.42%.
The Fear and Greed Index stands at 72.
BTC is trading at 45711 USD, which is a low of 2.02% from yesterday.
The All Time High (ATH) of BTC was on November 10, 2021 and BTC hit 68, 789.63. Compared to this price, BTC currently trades 33% lower.
Still the Bitcoin dominance stands at 53% with the overall crypto market. Hence, the sentiments are in favour of the Crypto leader BTC as always.
The next move from either side is based on the SEC's decision to accept or reject the BTC Spot ETF. The massive pumping and dumping would follow after this news.
The movement on BTC is expected at 50000 USD at the higher side and 31000 USD at the lower side ahead with the BTC ETF's decision.
All we need to keep in mind that the wordings of the present SEC Chair Gary Gensler said- crypto investments are considered to be the new age investments, but we need to see there are serious risks are associated with this!
Keep a close watch friends!
