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- SEC Eyes Non-BTC, ETH ETFs
SEC Eyes Non-BTC, ETH ETFs
Standard Chartered anticipates SEC approval of non-BTC, ETH ETFs by 2025, impacting market dynamics.
Joe G & Money Talks
May 26, 2024 • Estimated Reading Time: 5 minutes
What we will talk about today...
Bitcoin Consolidation Continues
SEC Eyes Non-BTC, ETH ETFs
FTX Investigation: Sullivan & Cromwell Cleared
Bitcoin (BTC) is struggling to break above $70,000, showing consolidation around $69,000 as the weekly close approaches.
Main Points:
Current Range: BTC/USD briefly hit $69,500 before pulling back.
Liquidity Zones: Watch $68.3K and $69.8K for short-term movements.
Resistance: $69,000 remains crucial; a weekly close above it could signal a move to $73,000.
Detailed Insights:
Daan Crypto Trades: Liquidity building on both sides of $69K.
Keith Alan: Emphasizes $69K as a pivotal resistance level.
Rekt Capital: Predicts several more weeks of consolidation between $60,000 and $70,000.
Market Outlook: Bitcoin's price action remains within familiar resistance zones, suggesting potential consolidation before any significant breakout. Analysts stress the importance of breaking and holding above $69,000 for bullish momentum.
Source: CoinGlass
#BTC
Since the Bitcoin Post-Halving "Danger Zone" ended, Bitcoin broke out to $71500
However, ~$71500 is where the Range High resistance of the Macro Re-Accumulation Range is and this is where Bitcoin rejected from
The consolidation continues and history suggest it will… x.com/i/web/status/1…
— Rekt Capital (@rektcapital)
12:23 PM • May 24, 2024
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SEC Eyes Non-BTC, ETH ETFs
Standard Chartered anticipates SEC approval of non-BTC, ETH ETFs by 2025, impacting market dynamics.
Main Points:
SEC's Consideration: Standard Chartered predicts approval of ETFs for non-BTC, ETH cryptos.
Market Impact: Bitcoin and Ethereum dominance is expected to persist, with potential winners in the ETF race.
Regulatory Outlook: Approval of spot Ethereum ETFs suggests SEC may not classify ETH as a security.
Detailed Insights:
Regulatory Climate: Political support for the crypto industry growing, signaling positive regulatory changes.
ETH Investigation: SEC may struggle to classify tokens similar to Ethereum as securities.
₿itcoin reached $69,071. -0.12%
♢Ethereum reached $3,806. +1.49%
Investigation finds no negligence or awareness of financial issues by Sullivan & Cromwell LLP in the FTX bankruptcy case.
Law firm S&C cleared of conspiracy with defunct FTX exchange
Sullivan & Cromwell (S&C), the law firm overseeing the FTX bankruptcy, has been cleared of conspiring with the defunct FTX crypto exchange, Cointelegraph reported, per an independent investigation by the former U.S.… x.com/i/web/status/1…
— CoinNess Global (@CoinnessGL)
1:24 AM • May 25, 2024
Main Points:
Clearance of Negligence: Sullivan & Cromwell was cleared of wrongdoing in the FTX case.
Investigation Findings: No proof of oversight of "red flags" during FTX's bankruptcy.
Law Firm's Response: Sullivan & Cromwell is confident in its work for FTX.
Detailed Insights:
Probe Results: Law firm conveyed false statements but was unaware of their inaccuracy.
Case Example: Sullivan & Cromwell's partner believed FTX's finances were stable during Voyager's acquisition.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results