Weekly Market Wrap: ETF developments bolsters Bitcoin above US$26,000
Bitcoin returned to US$26,000 on Friday, bolstered by Ark Invest’s Ether ETF application and Grayscale’s continued efforts for its potential Bitcoin ETF.
Bitcoin returned to US$26,000 on Friday, bolstered by Ark Invest’s Ether ETF application and Grayscale’s continued efforts for its potential Bitcoin ETF.
Bitcoin rose in afternoon trading in Asia, leading the gainers in the top 10 cryptocurrencies, fueling a wider market recovery as it returned to the US$26,000 support level. Despite the uptick, market experts warn of another potential drop to US$25,000. See related article: Weekly Market Wrap: Grayscale’s favorable court verdict, ETF hype fail to lift…
Toncoin led gainers in the top 10 cryptos after it saw stronger investor interest since the launch of its new programming language, Tact.
Solana led gainers in the top 10 cryptos, after the protocol announced a new partnership with payments giant Visa.
Dogecoin led the winners in the top 10, in anticipation of Tesla owner Elon Musk’s upcoming biography, which reportedly details his involvement in the memecoin’s development.
Bitcoin and Ether have struggled to gain traction since the Securities and Exchange Commission (SEC) postponed its decision on seven Bitcoin ETF proposals.
While Grayscale’s favorable verdict over the SEC could pave the way for the first spot Bitcoin ETF in the U.S., it failed to bring Bitcoin above the US$28,000 support level.
Bitcoin, Ether and other cryptos dropped on Friday afternoon in Asia. Toncoin and Tron gained.
Top blockchain and crypto news: U.S. court compels SEC to review Grayscale’s ETF application. SEC zooms in on NFTs. Asia’s richest man eyes blockchain, CBDCs
Bitcoin, Ether and most other top 10 cryptos dropped on Thursday after a Wednesday rally on news of Grayscale receiving a favorable ruling against the SEC.