Bitcoin Bulls Prepare for Potential Seasonal Surge as Matrixport Predicts Rally to $35,000
June 28 (Cointime) - Bitcoin is currently hovering above $30,000 after a recent dip from its 12-month high of over $31,000. Investors are anticipating a seasonal surge in Bitcoin price, as the cryptocurrency has historically performed well in July. Matrixport predicts a rally to $35,000, but warns of a possible pullback to $30,000 before the next spike.
BlackRock's Bitcoin ETF Application Expected to Receive Approval from US SEC
June 28 (Cointime) - Bitcoin has surpassed the $30k price level as BlackRock, a major investment management company, has applied for a spot BTC Exchange Traded Fund (ETF). Despite previous rejections due to concerns of fraud and market manipulation, experts predict that the US Securities and Exchange Commission (SEC) is likely to approve BlackRock's request.
Crypto Exchange Trading Volumes Surge As Institutions Enter the Space
June 28 (Cointime) - Institutional involvement is driving an increase in crypto exchange trading volumes, with the seven day moving average for daily exchange volumes rising from $11 billion on May 26 to nearly $19.5 billion on June 26. However, daily exchange volumes are still significantly lower than their peak of over $150 billion during the previous crypto bull cycle.
Retail Investors Will Drive Significant Bitcoin Price Surges, Says Fireblocks CEO
June 27 (Cointime) - According to Michael Shaulov, CEO of institutional custody platform Fireblocks, while a BlackRock spot Bitcoin ETF will bring in new institutional money, it will be retail investors who drive significant price surges.
Grayscale's Bitcoin ETF Lawsuit Has 70% Chance of Success Against SEC, Says Bloomberg Analyst
June 27 (Cointime) - According to Bloomberg Intelligence Senior Legal Analyst Elliot Z. Stein, the company behind the world's largest Bitcoin fund has a 70% chance of winning its lawsuit against the U.S. Securities and Exchange Commission (SEC). Stein also assigns a 50% likelihood to a Bitcoin spot ETF being approved in the United States this year.
Grayscale's GBTC Could Be a "Great Trade" Following BlackRock's Bitcoin ETF Filing
June 27 (Cointime) - The news of BlackRock filing for a bitcoin ETF has generated excitement in the crypto market, with some calling it the start of a new "crypto summer." GoldenTree's head of digital asset trading, Avi Felman, believes that Grayscale's GBTC shares could benefit the most from this development.
Fidelity Set To Submit Filing for Bitcoin ETF After BlackRock’s Lead
June 27 (Cointime) - Fidelity, a major asset management company, is reportedly preparing to file for a bitcoin exchange-traded fund (ETF), following in the footsteps of BlackRock. Other asset managers, including Invesco, WisdomTree, and Bitwise, have also filed for similar products since BlackRock's filing in June.
$1.4 Billion in Bitcoin and Ethereum Withdrawn from Exchanges as Large Players Return
June 27 (Cointime) - According to a report by analytics firm IntoTheBlock, over $1 billion worth of Bitcoin and Ethereum were withdrawn from crypto exchanges due to a surge in buying activity. The report shows that the two leading cryptocurrencies experienced net outflows of $1.4 billion last week, largely due to BlackRock's filing for a spot Bitcoin exchange-traded fund.
Bitcoin's $30,000 Support Shows Strength Amid Institutional Inflow and Regulatory Improvements
June 27 (Cointime) - Bitcoin has maintained the $30,300 resistance for the past three days, while gold reached its lowest level in three months. The recent price rally of Bitcoin has been attributed to BlackRock's spot Bitcoin exchange-traded fund (ETF) filing, as well as the ProShares Bitcoin Strategy ETF experiencing its largest weekly inflow in a year.
Cathie Wood’s ARK Says It’s First In Line for Spot-Bitcoin ETF
June 26 (Cointime) - Despite BlackRock’s recent filing, the ARK investment manager claims to be the first firm to receive approval for a spot bitcoin ETF. BlackRock's application includes a unique sharing agreement for exchange monitoring to prevent market manipulation, but ARK believes other applicants could easily amend their documents with similar agreements.
