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Lai Lai Lai....Bitcoin cheong to 40k liao....did u miss the boat?
- Thread starter k1976
- Start date
Bitcoin breaks US$40,000 as momentum builds
Published Mon, Dec 04, 2023 · 2:27 pm
The world’s biggest cryptocurrency hit US$41,522 on Monday (Dec 4), its highest since April 2022 and has seemed to cast off the funk that had settled over crypto markets since the collapse of FTX and other crypto-business failures in 2022.
PHOTO: REUTERS
Bitcoin
BITCOIN has broken above US$40,000 for the first time this year as it rides a wave of momentum on broad enthusiasm about US interest rate cuts and as traders anticipate the imminent approval of US-stockmarket traded Bitcoin funds.
The world’s biggest cryptocurrency hit US$41,522 on Monday (Dec 4), its highest since April 2022 and has seemed to cast off the funk that had settled over crypto markets since the collapse of FTX and other crypto-business failures in 2022.
A 50 per cent rally since mid-October has “seemed to mark a decisive shift away from the bearishness of 2022 and early 2023”, said Justin d’Anethan, head of business development for Asia-Pacific at Keyrock, a digital assets market making firm.
https://www.google.com/amp/s/www.co...d-100k-seed-funding-for-spot-bitcoin-etf/amp/
Blackrock also got one leg into Bitcoin liao
Blackrock also got one leg into Bitcoin liao
BlackRock Received $100K Seed Funding for Spot Bitcoin ETF
The unknown seed investor agreed to purchase $100,000 shares on October 27, 2023, BlackRock’s latest filing reveals.
By Omkar Godbole
Updated Dec 5, 2023, 7:04 AM
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ALWD5SKMINH37KIJLFM4XE3HUU.jpeg "BlackRock's corporate office in New York, New York. (Jim.henderson/Wikimedia Commons)")
BlackRock's corporate office in New York, New York. (Jim.henderson/Wikimedia Commons)
BlackRock (BLK) revealed that it received $100,000 as “seed capital” for its proposed bitcoin (BTC) exchange-traded fund, the investment giant disclosed in a fresh application with the U.S. Securities and Exchange Commission (SEC).
“The seed capital investor agreed to purchase $100,000 in shares on October 27, 2023, and on October 27, 2023 took delivery of 4,000 shares at a per-share price of $25.00 (the “seed shares”),” the filing said.
Asset management giant BlackRock filed an amended S-1 filing with the Securities and Exchange Commission for its proposed spot bitcoin ETF on Monday, with a similar move also taken by Bitwise.
While the regulator has yet to approve a spot bitcoin fund and has so far delayed all the applications it's received, analysts said the movements could signal that discussions are ongoing.
"They're just pouring in," Bloomberg Intelligence analyst James Seyffart wrote on X. "We have another spot #Bitcoin ETF S-1 (prospectus) amendment tonight. This one is from @BlackRock. SEC is obviously giving multiple issuers the same or very similar instructions."
"The wheel is still turning," Seyffart continued. "Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides."
"The Sponsor and the Trust will only interact with known third-party service providers with respect to whom the Sponsor or its affiliates have engaged in a due diligence process to ensure a thorough KYC process, such as the Authorized Participants, Market Makers, Prime Broker and Bitcoin Custodian," the updated filing read.
Bitcoin has surged amid speculation that the SEC could be getting ready to finally approve a spot fund. The world's largest cryptocurrency by market capitalization has surged 20.6% over the past month and is currently trading just under $42,000.
While the regulator has yet to approve a spot bitcoin fund and has so far delayed all the applications it's received, analysts said the movements could signal that discussions are ongoing.
"They're just pouring in," Bloomberg Intelligence analyst James Seyffart wrote on X. "We have another spot #Bitcoin ETF S-1 (prospectus) amendment tonight. This one is from @BlackRock. SEC is obviously giving multiple issuers the same or very similar instructions."
"The wheel is still turning," Seyffart continued. "Both the SEC and these issuers are working hard to iron things out. These filings are likely the result of many conversations and a lot of man hours on/between both sides."
Updated language
The updated BlackRock filing included new language about efforts the trust administrator will take to monitor for unusual price movements. It also added language about anti-money laundering compliance and included an audited statement from PricewaterhouseCoopers."The Sponsor and the Trust will only interact with known third-party service providers with respect to whom the Sponsor or its affiliates have engaged in a due diligence process to ensure a thorough KYC process, such as the Authorized Participants, Market Makers, Prime Broker and Bitcoin Custodian," the updated filing read.
Bitcoin has surged amid speculation that the SEC could be getting ready to finally approve a spot fund. The world's largest cryptocurrency by market capitalization has surged 20.6% over the past month and is currently trading just under $42,000.
Bitcoin Tops $42K as Crypto Market Recovers to Pre-Terra Levels
Ether also rose past $2,200 for the first time in months.
By Nikhilesh De, Omkar Godbole, Sam Reynolds, Lyllah Ledesma
Updated Dec 4, 2023, 5:44 PM
The price of bitcoin (BTC) moved past $42,000 for the first time since April 2022 – a level not seen since before the crash of Terra – while Ether (ETH) moved past $2,200.
Bitcoin’s price had been toying with the $40,000 level in recent days, but finally breached it Monday to trade above $41,600 as of press time, according to CoinDesk Indices data, a 24-hour rise of about 6%. Ether was trading around $2,240, a similar percentage gain.
The advance spurred crypto stocks higher, too. Crypto exchange Coinbase (COIN) jumped almost 9% in pre-market trading, as did Microstrategy (MSTR). Crypto miners such as Marathon Digital (MARA) and Riot (RIOT) added more than 10%.
The other top 10 cryptocurrencies by market capitalization marked smaller gains, and BNB coin (BNB), a token affiliated with the Binance exchange, was little changed.
The market is increasingly expecting a rate cut in the coming year, and investors are increasingly bullish on the outlook of Bitcoin ETF applications by some of the biggest names in asset management,” wrote Lucy Hu, Senior Analyst, Metalpha, in a note.
"This is an official statement of a bull run, and the price could see more upticks in the coming weeks.”
Last week, Powell said that interest rates are now well into restrictive territory, bolstering the narrative that the tightening cycle has peaked and adding to downward pressure on Treasury yields.
“Crypto, on the other hand, has been moving nicely higher, along with Gold, on the back of lower yields,” crypto data provider Amberdata said in a newsletter Sunday.
"This is an official statement of a bull run, and the price could see more upticks in the coming weeks.”
Last week, Powell said that interest rates are now well into restrictive territory, bolstering the narrative that the tightening cycle has peaked and adding to downward pressure on Treasury yields.
“Crypto, on the other hand, has been moving nicely higher, along with Gold, on the back of lower yields,” crypto data provider Amberdata said in a newsletter Sunday.
Trading got several type one is scalping which is very short term usually trade forex as it has huge leverage totally never use news. Swing trading is holding longer period which need to use fundamentals analyses. Must also need to cut loss. Not easy bro.
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