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Guess what day it is Folks? HUMPDAY! Yesterday, we got breaking news that Grayscale won their lawsuit against the SEC and that pushed the market significantly higher and it's continued to stablize above $27K whereas it was struggling to get above $26K before. This win doesn't mean we will get a Spot Bitcoin ETF but it greatly improve the chances. The price of Bitcoin is currently trading at $27,449.31. Let's dive into the news...
Despite recent favorable court rulings in the cryptocurrency space, Bitcoin has struggled to surpass last summer's peak performance. But analysts eye Bitcoin accumulation period ahead of 2024 rally.
SEC’s first deadlines to approve 7 Bitcoin ETFs coming over the next week. Also, “It doesn't mean that now Grayscale will be 100% able to list a spot Bitcoin ETF, nor that this will happen in the future,” one trader said. GBTC Bitcoin ‘discount’ may be gone by 2024 as share price gains 17%. Stronghold requests permission to burn tires for crypto mining in Pennsylvania.
Ethereum price rallied above the $1,700 resistance against the US Dollar and ETH struggled near $1,750 and is currently correcting gains. In addition, Ether’s exchange balances has dropped to a multi-year low. But, large holders of Ethereum (ETH) have displayed bearish behavior on the second-largest crypto asset by market cap since around April, according to Santiment. XRP surges massively thanks to Grayscale v. SEC decision.
Tether taps another Bahamian bank for dollar transfers, but critics still question reserves.
Hong Kong crypto exchange HashKey partners with imToken to tap retail market. SEBA bank has received conditional approval from Hong Kong's SFC to offer virtual asset services in the region. Binance launches crypto-to-bank account payment product in Latin America. Binance Japan said it intends to expand the number of tokens listed on its platform.
US Senator Warren Davidson renews calls to oust SEC chair, Gary Gensler, following second major court loss.
Crypto exchanges saw inflows of 30K Bitcoin prior to Grayscale's SEC victory. Genesis lender Group opposes ‘wholly insufficient’ DCG deal. The US Securities and Exchange Commission (SEC) has filed a sealed motion against the Binance crypto exchange.
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Podcast of the Day: Are Bitcoin’s 4 year cycles over? with Vijay Boyapati (SLP508) | SLP
Sources:
Bitcoin
- Price (UToday)
- Analysis (BIC)
- ETFs (Cointelegraph | CryptoPotato | CoinDesk | Blockworks | Cointelegraph | Cointelegraph)
- Mining (Cointelegraph)
Altcoins
- Ethereum (NewsBTC | TDH)
- XRP (UToday)
Stablecoins
- USDT (BIC | TB)
Exchanges
- HashKey (TB | Cointelegraph)
- Seba (BIC | CoinDesk)
- Binance (Cointelegraph | BIC | TB | Cryptoglobe)
Legislation/Regulation
- Congress (BIC)
Legal Cases
- Grayscale Victory (CoinDesk)
- DCG/Genesis (CoinDesk)
- Binance (BIC | TDH)
