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Guess what day it is Folks? HUMPDAY! Bitcoin is trading up at $36,277.15; even though it dropped it's actually flat from yesterday. Can it continue to recover and still push higher back toward $38K? Let's get on to the lack of news of the morning...
SUMMARY
Yesterday, $6.7 billion Ark's Cathie Wood says Bitcoin and crypto to be worth $25 trillion by 2030(2) and Former FTX executives are teaming up to build a new Crypto exchange; former FTX general counsel Can Sun and ex-employees Armani Ferrante and Claire Zhang have unveiled the Backpack Exchange.(2)
Today, Bitcoin price is blowing up ahead of the next halving as markets await SEC approval for a regulated BTC ETF. But U.S. inflation may be the biggest factor in valuations. Bitcoin's options market has overtaken its Futures market in a sign of growing sophistication. Meanwhile, $1.2 billion worth of Bitcoin sent to exchanges in a month and Bitcoin’s latest price pullback to $35,000 was driven by softer U.S. inflation, China’s economic challenges and regulatory uncertainties. ARK Invest CEO Cathie Wood says that key metrics are confirming that Bitcoin (BTC) is in a true bull market. ‘Shark Tank’ star Kevin O’Leary foresees an 18-month wait for a spot Bitcoin ETF approval in the U.S. Sergey Nazarov predicts financial ‘reckoning’ that could lead to rapid Crypto adoption.
The Securities and Exchange Commission on Wednesday announced that it will “designate a longer period within which to take action on the proposed rule change” for Grayscale’s Ethereum Futures Trust.(2) SEC delays decision over the conversion of the Hashdex Bitcoin futures ETF to spot. Solana’s SOL jumped nearly 20% in 24 hours to lead the charge among crypto majors in an otherwise range-bound market; Cathie Woods gave it props as well.(2)
International Monetary Fund managing director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies.
Bakkt shifts focus to custody services, adds support for DOGE, SHIB, other coins. German full-service bank, Commerzbank AG, said that it has acquired a license from the regulator to operate digital asset services.
The large transfer of Ethereum by the bankrupt crypto lender comes days after a judge approved Celsius’ bankruptcy plan. The bankruptcy plan will see Celsius converted into a crypto mining and staking firm owned by the creditors.
Hacked cryptocurrency exchange Poloniex said it has mostly completed restoration efforts and is preparing to resume operations after suffering the major hack on Nov. 10.
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Podcast of the Day: When Will $ETH Pump? | Bankless
