|

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cryptos — Asian Wrap 11 January

Bitcoin Spot ETF approval fuels fee wars, expert says BlackRock, Fidelity and Grayscale BTC ETFs could survive

Bitcoin Spot ETF was approved by the US Securities and Exchange Commission, marking January 10 as a historic moment for BTC holders. The approval has triggered fee wars among issuers and experts weigh in on who is likely to survive in the long term, offering near zero fee to market participants.

ARB, OP, MATIC, IMX, MNT: Ethereum L2 tokens on a tear as SEC approves all spot Bitcoin ETFs

Ethereum (ETH) price is trading with a bullish bias, coming on the back of anticipation that an ETH spot exchange-traded fund (ETF) will come to the market shortly after the US Securities and Exchange Commission (SEC) has approved the launch of the BTC ETF. The overflows from the ETH market have spilled to the blockchain’s Layer 2 (L2) tokens.

All Bitcoin ETFs approved by US SEC

In a landmark decision, the US SEC has approved all Bitcoin spot ETFs in a single, unprecedented decision on Wednesday, January 10.

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

Top 3 Price Prediction: BTC, ETH and XRP retreat as Fed rate decision looms

Bitcoin, Ethereum and Ripple remain under pressure and consolidate at the time of writing on Wednesday after falling more than 3%, 4% and 9%, respectively, as the Clarity Act failed to advance in the Senate on Tuesday.

Crypto Overview: Bitcoin falls to $75,000 as CLARITY Act fails to advance – Pi Network, Injective lead losses
Bitcoin (BTC) price trades around $75,000 on Wednesday, following a 3% decline the previous day as the US Senate failed to advance the CLARITY Act to a cloture vote. The broader cryptocurrency market's risk-on sentiment eases, with over $600 million in liquidations in 24 hours, driven primarily by long-position unwinding.
CLARITY fails to pass Senate, what happens next?
The US Senate on Tuesday blocked further consideration of the Digital Asset Market Clarity Act, with a procedural vote falling short of the 60 required YEA. The motion to advance the bill failed 49-50, with all 49 supporting votes coming from Republicans. The setback leaves the market-structure bill stalled as Congress moves closer to its midterm election recess.
Ethereum Price Forecast: ETH continues to attract capital despite impending rate hike and Clarity Act failure
Ethereum (ETH) declined to $2,400 on Tuesday after the Clarity Act failed to progress in the Senate. Despite that and the market's near certainty of an interest rate hike at the next Federal Reserve (Fed) meeting, the top altcoin has continued to attract fresh capital. Ethereum buyers have been dominating sellers over the past few days.
Bitcoin: BTC retreats as macro headwinds grow
Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.