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Investors will likely see Bitcoin surge even more when a spot Bitcoin ETF is approved, but other factors are needed for the rally to sustain, warn analysts. While the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) will likely spike the price of Bitcoin, some analysts are concerned it won’t be enough to fully thaw the markets from its winter chill.  On Oct. 24 Bitcoin staged its largest single day rally in over a year, surging more than 14% on the news that the ticker of BlackRock’s spot Bitcoin ETF — IBTC — had been listed on the Depository Trust & Clearing Corporation (DTCC) website, something markets understood as a positive step forward for the funds’ application. The surge turned out to be even stronger than that of oOct. 16, when Cointelegraph’s incorrect tweet that suggested a spot Bitcoin ETF had been approved. Speaking to Cointelegraph, pseudonymous trader TheFlowHorse — who boasts 184,000 followers on X — said that the two market blips can be seen as a hint ...

Federal Reserve’s Michael Barr highlights the risks of unregulated stablecoin s, emphasizing the need for robust federal oversight in the evolving digital currency landscape. Michael Barr, the Federal Reserve’s leading authority on banking oversight, has voiced robust concerns regarding stablecoin s operating outside the oversight of federal regulation. While Federal Reserve officials have articulated reservations about stablecoin s in the past—these being digital currencies anchored to traditional assets such as the U.S. dollar—the latest comments from Barr signify an increased level of urgency. Gaps in stablecoin regulation pose significant threats Barr emphasized that such an absence of regulation could result in “substantial risks to financial stability, the effectiveness of monetary policy, and the integrity of the U.S. payments system.” He issued these warnings as part of his prepared statement for a fintech gathering held at the Federal Reserve Bank of Phil...

Twitter has secured a currency transmitter license from Rhode Island, marking a significant step towards the platform’s potential involvement in the financial sector. On Aug. 29, Twitter obtained a currency transmitter license from Rhode Island. The platform is now authorized to handle both fiat and digital currencies, underlining the company’s approach toward compliance and regulation. This news follows Twitter’s acquisition of similar licenses in Michigan, Missouri, and New Hampshire. You might also like: Twitter receives money transmitter licenses in 3 US states The Rhode Island currency transmitter license is legally mandated for any entity that carries out financial transactions on behalf of users. It covers the storing, trading, and transferring assets, including traditional fiat money and digital currencies like Bitcoin (BTC) and Ethereum(ETH). The license was granted just one day after Twitter’s legal victory over the U.S. Securities and Exchange Commi...

Coinbase is preparing to roll out cryptocurrency futures trading for institutional investors in the United States. Cryptocurrency exchange Coinbase has obtained approval from the National Futures Association (NFA) to offer investments in crypto futures to eligible customers in the United States. Announcing the news on Aug. 16, Coinbase stated that the company is now officially allowed to operate a Futures Commission Merchant (FCM) platform. The approval enables Coinbase to introduce Bitcoin (BTC) and Ether (ETH) futures contracts through its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange. “This is a critical milestone that reaffirms our commitment to operate a regulated and compliant business and be the most trusted and secure crypto-native platform for our customers,” Coinbase said in the statement. According to a notice on Coinbase’s cryptocurrency futures web page, the new futures trading service will not be immediately available in the United Sta...

Also Read: Bitcoin Supply on Exchanges Hits 5-Year Low Amidst Growing Investor Demand advertisement A Wall Street Journal report on Friday cited sources in the SEC officials as saying that the recent spot ETF applications are inadequate. The regulators said the filings were not clear and comprehensive as details of the surveillance sharing agreement with crypto exchanges was missing. However, this is most likely to be a request to refile on the grounds of incomplete information in the filings. Bitcoin Price Showed Overreaction? Reacting to the market reaction to the US SEC news on the filings, popular analyst Will Clemente said the traders might have overreacted to what was just a technical concern that Blackrock and Fidelity can fix in the refiling. Hence, the refilings from the asset managers could have a mention of Coinbase as the Bitcoin exchange they are linked with to have the surveillance sharing agreement. Think the market is overreacting here,...

Also Read: Every Friday One US Bank Collapses; Who’s Next On The Bank Run? advertisement Meanwhile, the S&P 500 Index and Nasdaq closed with over 1% drop on Tuesday, while another regional bank, PacWest Bancorp’s stock dropped around 28% during the day. The sentiment continued on Wednesday in the pre-market hours. On the other hand, the US Dollar Index (DXY) also dropped, continuing in the lowest range since February 2023. Barclays Predicts Dovish Stance The bank predicts a Fed statement giving signs of dovish sentiment, although with an increase in rate hike by 25 bps, as per market expectations. Overall, the statement is dovish in nature but comes with a warning of further tightening risks depending on the economic conditions. The predicted statement said, “The committee judges that with today’s increase in the target range, the stance of monetary policy is sufficiently restrictive to return inflation to 2 percent over ti...

Low Cap Assets are always one of the crucial parts of a balanced portfolio. These gems can be bought at a discounted price and offer massive returns during bull runs. Thus, today we’ll analyze three Low Cap cryptocurrencies with a strong bullish setup that hold massive growth potential in the near future.  advertisement MultiversX(EGLD) Source- Tradingview  In the daily time frame chart, the MultiversX coin price shows the formation of an inverted head and shoulder pattern. This pattern consists of a large swing low- the head, and two shorter swing lows- the shoulders and key resistance called the neckline. As of now, the coin price currently trades at $39.9 and trying to sustain above local support of $39.5. If the coin price manages to sustain above the aforementioned support, the buyers may drive a 15% rally to challenge the pattern’s resistance trendline. Thus, a potential breakout from the trendline will signal an early sign of ...

Ava Labs CEO has condemned players that jump into every single new coin offering or token in the hopes that they will go up. Emin Gün Sirer, creator of the Avalanche Consensus protocol and Ava Labs CEO, believes that there is one very straightforward method to spot a long-standing cryptocurrency project. On Feb. 7 ​​Sirer discussed blockchain venture capital and crypto regulation in a fireside chat with MarketAcross chief operations officer Itai Elizur at the Web3 builder-focused event, Building Blocks 23. During the discussion, the Avalanche founder pointed out the crucial role of “staying power” in the crypto industry, condemning players that run from one project to another or jump into “every single new coin offering” in the hopes that they will go up. According to ​​Sirer, the desire to reap quick profits from crypto will only turn the space into a terrible thing, and VCs are not to blame. “I will tell you who’s to blame; it’s us,” ​​Sirer declared, urging the community to supp...