CRYPTO

After kneejerking lower by over $4,000 after yesterday's hot CPI print, bitcoin has recovered all those losses and then some, to top a fresh record high of $73,600 this morning…

Source: Bloomberg

“Bitcoin wiped out overleveraged longs, retested the 2021 cycle high & then bounced back to $72,000,” popular trader Jelle summarized on X, adding that the landscape was now “looking good” for upside continuation.

As we noted on X, the rebound buying came (more…)

Authored by Ana Paula Pereira via CoinTelegraph.com,

Grayscale and Coinbase met with the SEC on March 6 to address concerns about the conversion of Grayscale’s Ethereum Trust into a spot ETF…

Crypto firms Grayscale and Coinbase recently met with United States Securities and Exchange Commission (SEC) officials to discuss a rule change for the launch of spot Ether exchange-traded funds (ETFs). 

Grayscale is seeking to convert its Ethereum Trust – which tracks the (more…)

Bitcoin soared above $72,000 for the first time in history this morning, far surpassing its historical (inflation-adjusted highs)…

Source: Bloomberg

“This rally comes following a weak Asian trading session in which shorts tested the conviction of longs — it appears the longs have given a rather convincing positive answer,” said Richard Galvin, founder of Australia-based crypto-focused investment firm DACM.

The largest cryptocurrency's latest move has been attributed to two notable shifts in the UK.

The London Stock Exchange (LSE) announced that it will start accepting applications for Bitcoin and Ether crypto exchange-traded notes (ETNs) in the second quarter of 2024.

On March 11, the exchange confirmed that it would accept applications following the guidelines specified in its Crypto ETN Admission Factsheet. However, the exchange did not provide the exact date that it will start accepting applications.

Additionally, the U.K.'s Financial Conduct Authority decision to allow exchanges to offer similar products – exchange-traded notes backed by cryptocurrencies – to institutional investors.

But, as The Wall Street Journal reports, the FCA said it would continue to block individual investors from buying these notes or crypto derivatives, warning that both were "ill-suited for retail consumers due to the harm they pose."

This most recent surge has lifted Bitcoin's total market cap above that of Silver, becoming the (more…)