What an interesting crypto week!! Here’s what you missed
The post What an interesting crypto week!! Here’s what you missed appeared on BitcoinEthereumNews.com. What an interesting crypto week it’s been! If you blinked, you might have missed some of the most thrilling developments in the world of digital assets. From jaw-dropping confessions in the SBF trial to the SEC stand on not filing an appeal on Grayscale loss, the crypto space has been buzzing with major developments. The crypto market has witnessed a significant downturn subsequent to the Hamas attack on Israel on October 7. Notably, the incurred losses stand in stark contrast to the meagre 0.18% decline observed in the Nasdaq Composite Index. Crypto week summary with a focus on the Middle East Currently, the crypto market is worth $1,032 billion, a decrease of 3.55%. The digital market capitalization had dropped to $1,073 billion on October 6, prior to a six-session selling streak. The decline was initiated not only by the escalation of the Middle East conflict but also by the US CPI Report, which investors also responded to. A higher-than-anticipated US CPI report caused the total crypto market cap to fall to a one-week low of $1,015 billion. Predictions of an increase in interest rates by the Federal Reserve dampened investor interest in crypto. 1. SEC gives up the appeal on the Grayscale GBTC According to a person familiar with the matter, the Securities and Exchange Commission will not appeal a court’s scathing reversal of its decision not to allow Grayscale to convert its bitcoin trust into a more investor-friendly exchange-traded fund, potentially clearing the way for the first bitcoin ETF in the United States. The markets regulator had until midnight Friday to determine whether to appeal the court’s verdict, but the SEC won’t take advantage of that deadline. Following the news, Bitcoin (BTC) surged past $27,000. BREAKING:
The post What an interesting crypto week!! Here’s what you missed appeared on BitcoinEthereumNews.com.
What an interesting crypto week it’s been! If you blinked, you might have missed some of the most thrilling developments in the world of digital assets. From jaw-dropping confessions in the SBF trial to the SEC stand on not filing an appeal on Grayscale loss, the crypto space has been buzzing with major developments. The crypto market has witnessed a significant downturn subsequent to the Hamas attack on Israel on October 7. Notably, the incurred losses stand in stark contrast to the meagre 0.18% decline observed in the Nasdaq Composite Index. Crypto week summary with a focus on the Middle East Currently, the crypto market is worth $1,032 billion, a decrease of 3.55%. The digital market capitalization had dropped to $1,073 billion on October 6, prior to a six-session selling streak. The decline was initiated not only by the escalation of the Middle East conflict but also by the US CPI Report, which investors also responded to. A higher-than-anticipated US CPI report caused the total crypto market cap to fall to a one-week low of $1,015 billion. Predictions of an increase in interest rates by the Federal Reserve dampened investor interest in crypto. 1. SEC gives up the appeal on the Grayscale GBTC According to a person familiar with the matter, the Securities and Exchange Commission will not appeal a court’s scathing reversal of its decision not to allow Grayscale to convert its bitcoin trust into a more investor-friendly exchange-traded fund, potentially clearing the way for the first bitcoin ETF in the United States. The markets regulator had until midnight Friday to determine whether to appeal the court’s verdict, but the SEC won’t take advantage of that deadline. Following the news, Bitcoin (BTC) surged past $27,000. BREAKING:
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