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Blockchain & Cryptocurrency
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Bitcoin Derivatives Point to Potential Rally Towards New ...
2024-05-22 15:16:42

Bitcoin Derivatives Point to Potential Rally Towards New All-Time Highs

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Bitcoin derivatives data suggests a probable surge in price above $73,000, driven by a significant 4% daily price increase and growing optimism for the approval of a U.S. spot Ethereum exchange-traded fund. Recent market movements show Bitcoin surpassing $65,000, leading to a 7-week peak in ETF volumes and heightened trading activity above $5 billion daily.

Traders anticipate Bitcoin hitting $90,000 in a 'real deal market pump', fueled by positive sentiment surrounding potential SEC approval of spot Ether exchange-traded funds. Analysts are cautious as Bitcoin faces resistance at $69,000, while Ether's price hits a 2-month high against Bitcoin, with the upcoming ETF decision crucial for determining future price action.

Furthermore, crypto traders are targeting a six-figure Bitcoin price, with a surge in demand for call options aiming for prices between $75,000 and $100,000, amid optimistic market sentiment and expectations of short-term price increases.

Related news on that topic:

The Battle for a Spot Ethereum ETF: Regulatory Challenges and ... Market Speculation

The potential approval of a spot Ethereum ETF in the U.S. is a topic of discussion, with insights on regulatory challenges and market speculation. Experts debate the timeline for approval, with some projecting delays due to regulatory hurdles. The approval of an Ethereum ETF in the U.S. is contrasted with the successful launch of spot bitcoin and ether ETFs in Hong Kong. Regulators' decision on approving or denying these ETFs will significantly impact the short-term market outlook for ether. Speculation around an ETF approval has sparked bullish sentiment and price surges, while bitcoin ETFs are also experiencing increased value. The potential denial of an ethereum ETF could reinforce bitcoin's unique position in the market. The SEC's challenge to Robinhood's crypto arm is not expected to hinder the eventual approval of spot ethereum ETFs. There is also speculation about the SEC labeling Ethereum as a security, which could lead to legal battles and impact the entire U.S. crypto market. The approval of Ethereum index funds could also influence the price of the cryptocurrency. The SEC's decision on VanEck's spot Ether ETF application is expected by May 23, with the fate of an Ether ETF uncertain. The changing stance of the SEC on crypto approvals and the emergence of alternative blockchain solutions are also discussed. WisdomTree has received approval to list Bitcoin and Ethereum ETPs on the London Stock Exchange, while the SEC is still reviewing spot Ether ETF applications and extending the decision timeline.

The Future of Crypto ETFs: Will Ethereum or Another Altcoin Get a ... Wall Street?

The approval of a spot Ethereum ETF in the U.S. is being debated among experts, with discussions on regulatory challenges, prospects for altcoins, and the potential impact on the crypto market. While there is optimism for an Ethereum ETF approval, skepticism remains due to regulatory complexities and differences from Bitcoin. Delays in ETF approvals could lead to the U.S. losing its position in the crypto market to other financial hubs like Hong Kong. Speculation around an ETF approval has sparked bullish sentiment in the market, with Ethereum's price surging up to 20%. Bitcoin ETFs are also growing in value as the anticipation of Ethereum ETFs approval contributes to increased inflows. The potential denial of an Ethereum ETF could impact the bitcoin market and reinforce its unique position. The SEC's challenge to Robinhood's crypto arm is not expected to hinder the eventual approval of spot Ethereum ETFs. The SEC's potential move to label Ethereum as a security could have significant implications for the entire U.S. cryptocurrency market. The approval of Ethereum index funds could influence the price of the cryptocurrency and surprise investors. The debate on whether Ether is a security continues, with the fate of an Ether ETF uncertain. The changing stance of the SEC on crypto approvals and emerging blockchain solutions are also shaping the future of crypto ETFs. WisdomTree has received approval to list Bitcoin and Ethereum exchange-traded products on the London Stock Exchange, while the SEC is still reviewing spot Ether ETF applications.

Read 27 more recent news on this topic

The press radar on this topic:

Cointelegraph.com News
21. Mai 2024 um 16:42

Bitcoin derivatives hint at potential rally above $73K — New all-time highs next

Finance
Cryptocurrencies & blockchain
Bitcoin derivatives data indicates potential for new all-time highs above $73,000, with a 4% daily price jump and growing optimism around the approval odds of a U.S. spot Ethereum exchange-traded fund (ETF). Approval chances for the Ethereum spot ETF have risen from 25% to 75% following a U.S. Senate resolution overturning SEC's stringent capital requirements on banks holding customer digital assets.
Cointelegraph.com News
22. Mai 2024 um 03:20

Bitcoin’s recent price move is the ‘real deal market pump’ to $90K

Finance
Bitcoin experienced a 14% surge over the past week, leading traders to believe it could be the 'real deal' market pump, with expectations to reach $90,000 before another correction. Market sentiment turned positive amid speculation of the SEC approving spot Ether exchange-traded funds, causing a spike in the Crypto Fear and Greed Index.
Cointelegraph.com News
22. Mai 2024 um 05:53

BlackRock's Bitcoin ETF hits 6-week inflow high amid early-week BTC rally

Finance
Cryptocurrencies & blockchain
BlackRock's IBIT Bitcoin ETF saw a significant inflow of $290 million on May 21, marking the highest inflow since April 5. The total inflow for all US spot Bitcoin ETFs on that day exceeded $300 million. The surge in inflows was driven by a recent uptick in BTC prices and anticipation around potential approval of spot Ethereum ETFs.
Cointelegraph.com News
22. Mai 2024 um 05:38

PEPE reaches new high amid ETH price jump on renewed ETF approval hope

Finance
PEPE, an Ethereum-based memecoin, surged 27% to a new all-time high amid speculation over the approval of United States spot Ether exchange-traded funds (ETFs). The price of Ether also rose by 23.28% in the past two days to $3,785, driven by hopes of SEC approval for Ether ETFs by May 23. PEPE's Open Interest increased by 40%, indicating growing confidence among traders in future positions on the cryptocurrency.
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