Market Analysis
ETH broke above its November 2021 record high, and analysts say a dovish Federal Reserve and institutional adoption will send Ether well above $5,000.
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Latest Bitcoin ETF News
Exchange-traded funds, or ETFs, are investment funds that trade on a stock market with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. They provide investors with easier exposure to a particular index of assets.
A Bitcoin ETF is similar, but the underlying asset is the Bitcoin (BTC) cryptocurrency rather than other traditional financial instruments. Bitcoin ETFs could provide institutional investors an easier way to buy into Bitcoin and crypto markets, thus making it more attractive to the broader investment community.
BTCetc, or Bitcoin Exchange Traded Crypto (BTCE), launched on Deutsche Börse Xetra in June 2020 as the first Bitcoin ETF available in the European market. ProShares Bitcoin Strategy ETF (BITO) was the first Bitcoin-linked ETF approved by the United States Securities and Exchange Commission (SEC). It launched in October 2021. Canada approved the world’s first spot Bitcoin ETF, Purpose Bitcoin ETF (BTCC), in February 2021.
As of October 2023, U.S. regulators had not approved a spot Bitcoin ETF, with the SEC expressing concerns about market manipulation, fraud, custody and investor protection in their hesitancy to approve such applications.
- Price Analysis
Bitcoin and Ether are trying to rise from their respective lows, indicating strong buying on the dips.
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Bitcoin fell below $113,000 as investors braced for Jerome Powell’s Jackson Hole speech that could set the US Fed’s path on interest rate cuts.
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Spot Bitcoin ETF outflows jumped over 300% to $533 million on Tuesday, while Ether ETFs doubled their losses to $422 million, adding to a three-day streak of withdrawals.
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Healthcare company KindlyMD recently merged with Nakamoto, a Bitcoin entity established by former Trump crypto adviser David Bailey, with the aim of acquiring 1 million BTC.
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Trump’s move to allow crypto in 401(k) retirement plans could push Bitcoin to $200,000 by the end of the year, according to Bitwise’s head of European research.
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Spot Ether ETFs saw almost $200 million in outflows on Monday amid increased unstaking and investor interest shifting from Bitcoin to ETH.
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Bitcoin’s sharp sell-off caught many traders off-guard, intensifying the rate of long liquidations, but data shows bulls stepping in to buy the dip.
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The SEC has pushed back decisions on Truth Social’s Bitcoin-Ethereum ETF, Solana products from 21Shares and Bitwise and 21Shares’ Core XRP Trust — all now set for October deadlines.
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Bitcoin derivatives, spot ETFs, top trader positions and stablecoin demand suggest BTC’s correction is near completion.
8289 - Markets News
Bitcoin buy signals may emerge from bond market stress, but whale investor activity and dormant coins raise short-term volatility risks.
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Ether continued dominating ETP inflows last week despite Bitcoin printing new highs above $124,000 and ETH only nearing all-time highs.
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Buyer exhaustion may set the stage for a correction in August before investor capital surges into altcoins, as in previous market cycles.
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Bitcoin and Ether were firm "buy the dip" targets for ETF investors, with reactions celebrating continued institutional demand despite a BTC and ETH price correction.
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Bitcoin miners face rising competition from AI data centers for cheap energy, potentially driving a new wave of institutional investment, according to GoMining exec Jeremy Dreier.
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