Bitcoin surged past $35,000 due to the appearance of BlackRock's IBTC ticker on the DTCC website. However, it later fluctuated around $34,000 as the ticker disappeared and reappeared. Grayscale's legal win against the SEC also boosted optimism for Bitcoin spot ETF approval. Ethereum, on the other hand, remained around $1,800.
In the past 24 hours, the overall crypto market volume stands at $69.11B, showing a 14.59% decrease. DeFi volume is at $5.64B, accounting for 8.16% of the total market volume, while stable coins represent $61.51B, making up 89.00% of the 24-hour market volume. Bitcoin's dominance now stands at 53.05%, down 0.05% from the previous day.
Over the last 24 hours, the cryptocurrency markets have exhibited a buying sentiment, leading to a 6-point increase on the "Greed and Fear Index." As a consequence, the index presently records a score of 72 on its 0 to 100 scale.
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Bitcoin held above $34,000, while Ethereum traded near $1,800. Other popular altcoins, including Dogecoin, Ripple, Solana, and Litecoin, experienced minor declines. Meme coin Pepe went from being the biggest gainer to the largest loser, with a 7% dip in 24 hours. Conversely, the MINA token was the top performer, surging by over 50% in 24 hours.
Bitcoin surged 6% to $35,198, nearing a 1.5-year high amid expectations of an approved bitcoin ETF by the SEC. A potential ETF could broaden crypto access for investors, boosting liquidity and demand. Crypto-related stocks like Coinbase and MicroStrategy gained. BlackRock and other firms await ETF approvals. Reports suggest the SEC won't appeal a court's ETF rejection decision, raising approval prospects.
The SEC charged BlackRock for misrepresenting entertainment industry investments involving Aviron Group. BlackRock, managing $9.43 trillion, inaccurately reported high interest rates. They settled without admitting guilt, agreeing to a $2.5 million fine. Meanwhile, BlackRock's Bitcoin ETF hopes dimmed after an unexpected removal from the DTCC website, causing market confusion.
FTX Trading Ltd., once a crypto exchange leader, is exploring recovery options after bankruptcy. Investment banker Kevin M. Cofsky disclosed they are in talks with potential investors and considering various paths, including selling the exchange or partnering with another entity. FTX has recovered $7 billion in assets, but the exact customer payout remains uncertain. Founder Sam Bankman-Fried, who stepped down amid troubles, faces legal challenges related to misusing customer funds.
XRP's price is up 4.3% in the last 24 hours, trading at $0.55, with increased trading volume and a market cap of $29 billion. Speculation around the approval of BlackRock's spot ETF has driven optimism. If XRP maintains interest and breaks a long-term trendline, it could see FOMO-driven gains, possibly reaching $1. However, caution is advised due to potential price manipulation. The token is currently above key bullish indicators, with potential resistance at $0.6. A dip below $0.5 might lead to support testing at $0.44 and potentially down to $0.34 to $0.38.
Republican lawmakers have chosen Tom Emmer as their candidate for House Speaker after the expulsion of the previous leader. Emmer, known for advocating for the cryptocurrency industry and challenging SEC regulations, may face challenges from right-wing Republicans in securing the Speaker's position.
Solflare, a top Solana wallet provider, has joined forces with MetaMask, allowing users to manage Solana assets in their MetaMask wallets. This integration unites Solana and Ethereum, streamlining asset and NFT management for wider accessibility. Utilizing "Solana Snaps" and a DLN-powered bridge, it enhances cross-chain engagement while prioritizing security through the deBridge project.
During a Twitter Spaces session, Elon Musk voiced concerns about the Israeli-Palestine conflict and stressed the importance of preventing a potential World War 3. He emphasized the catastrophic consequences such a war could entail and cautioned that even seemingly minor conflicts could escalate if not addressed promptly. Musk's remarks coincide with the ongoing Russia-Ukraine conflict, where he has expressed support for Ukraine and called for peace between the two nations.
In response to a filing by Binance, the cryptocurrency exchange strongly criticized the U.S. Commodity Futures Trading Commission (CFTC) for what it deemed as an excessive exercise of jurisdiction. Binance argued that the CFTC's attempts to regulate global derivatives-related crypto activities went too far. Furthermore, Binance contested the CFTC's allegations of its association with illicit actors and highlighted that its derivatives trading volume had returned to pre-regulatory levels despite the CFTC's actions.
COIN GABBAR Views: Will the SEC grant approval for a Bitcoin ETF? Is the ongoing bull rally expected to persist, or could there be potential profit-taking? Will Bitcoin achieve new all-time highs in alignment with the optimistic sentiment expressed in "Upctober bullish"? To get latest news Stay tuned us at www.coingabbar.com
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
For More News: Crypto Daily Roundup,23 Oct:Crypto Rally Spurred by Multiple ETF Hopes
