Bitcoin, Ether trade flat as buzz around Bitcoin ETFs and Ripple court ruling fades
Bitcoin edged higher on Thursday morning, along with most other top 10 cryptocurrencies, but the token looks to have lost support at the US$30,000 line.
Bitcoin edged higher on Thursday morning, along with most other top 10 cryptocurrencies, but the token looks to have lost support at the US$30,000 line.
Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
Bitcoin slipped under US$30,000 on the back of profit-taking and long liquidations as the recent run up on optimism about exchange-traded funds seemed to run out of steam.
Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.
The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.
Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.
A favorable U.S. court ruling for Ripple boosted Bitcoin prices. All top 10 non-stablecoin cryptos rallied with XRP prices gaining 62% in the past 24 hours.
In a long-awaited decision, the U.S. court ruled in favor of Ripple Labs in its case against the Securities and Exchange Commission, providing a boost to most cryptocurrency prices. But industry participants remain wary.
Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date
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