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Ethereum and Meme Moguls price forecast as SEC delays Fidelity’s spot ETF. $ETH: Analyst says $2,450 key to bulls and market could see sharp bounce. Meme Moguls ($MGLS) price has reached $0.0027 in stage 4, showing a 42% upside as potential 100x toke gathers presale pace. Amid the crypto market’s bid to bounce from recent declines, Ethereum ($ETH) price is battling to hold above $2,400. While most altcoins mirror Ethereum’s downside move, some with double-digit losses over the past 24 hours, new token Meme Moguls ($MGLS) is defying the turbulence. Here’s what analysts are saying about Ethereum and Meme Moguls. SEC delays decision on Fidelity’s spot ETF After recently approving several spot Bitcoin ETFs, the US Securities and Exchange Commission (SEC) has postponed its decision on Fidelity’s proposal to list a spot Ethereum ETF.  A SEC filing on Thursday pushed the decision on whether to allow or reject the applicati...

Crypto investment firm Pantera Capital says tokens with promising underlying protocols and product market fit are set to outperform in the upcoming cycle. According to a new report from Pantera Capital, tokens with promising underlying protocols and a demonstrated product-market fit are expect ed to outperform in the upcoming cycle “just as one would expect across other asset classes like equities.” Although Pantera Capital did not name specific tokens, the firm said that over the long term, token selection will be “paramount because outperformance will be on a case-by-case basis and not necessarily in a certain sector or based on fickle, short-lived speculative narratives.” “Our thesis is that altcoins underlying protocols that have product market fit and are generating real revenues with strong unit economics will perform best in the coming cycle, just as one would expect across other asset classes like equities.” Pantera Capital Y...

Mathew McDermott, head of digital assets at Goldman Sachs, says that a spot Bitcoin (BTC) and Ethereum (ETH) ETF (Exchange Traded Fund) will increase institutional interest in cryptocurrencies. While speaking to Fox Business, McDermott stated, “ One, it broadens and deepens the liquidity in the market. And why does it do that? It does that because you’re creating institutional products that can be traded by institutions that don’t need to touch the bare assets. “ Also Read: Bitcoin ETF Sparks Fears of Cryptocurrency Exchange Bloodbath However, McDermott does not anticipate a sudden transformation with a spot ETF approval. Instead, the Goldman Sachs exec expects a gradual shift in the landscape over the next year. Moreover, McDermott says that the increasing acceptance of cryptocurrencies will decrease risks. He added, “ It can have a lot of very positive impacts in terms of business model. “ How high can Bitcoin go if a spot ETF is...

Bitcoin retail investors may end up with a hot potato if the spot ETF go-ahead plays out like gold 20 years ago, analysis considers. Bitcoin (BTC) may suffer when the first spot exchange-traded fund (ETF) is approved by the United States, a new warning says. In a thread on X (formerly Twitter) on Nov. 28, Joshua Lim, head of derivatives at capital market firm Genesis Trading, predicted a volatile start to 2024 for BTC price action. Bitcoin ETF approval: Retail may be left holding the buck Bitcoin is already a target for traditional finance, or “TradFi,” which is betting on winning big out of the spot ETF approval, Lim said. “We know tradfi guys / macro tourists are already long crypto ahead of ETF news, they’ve built the position over the last few months and are now paying handsomely to roll it,” the thread explained alongside data covering open interest on CME Group’s Bitcoin futures. “Commitment of traders data showing asset managers increased length by about $1bn since end of Sep.”...

Bitcoin on-chain data is pointing to "up only" as BTC price action fights to eke out an uptrend below fierce resistance near $40,000. Bitcoin (BTC) starts a new week keeping traders guessing near its highest levels in 18 months — what’s next? BTC price action has held higher after spiking above $38,000 last week, but since then, a testing "micro-range" has left bulls and bears locked in battle. Whether a deeper retracement will come or a trip to $40,000 will leave naysayers behind is now the key short-term question for market participants. Coming up over the next few days are various potential catalysts to help effect trend emergence for Bitcoin, while underneath, there are mounting signs that the market is due a boost. Volatility is set to come at the hands of the monthly close later on, but before then, a host of macroeconomic events has the ability to inject some surprise price action. Cointelegraph takes a look at these issues and more in the weekly rundown o...

Bitcoin and altcoins are beneficiaries of major inflows this year, while the question of a BTC supply squeeze remains. Bitcoin (BTC) institutional investment vehicles have seen over $1 billion in new inflows in less than two months. In its latest weekly report on Nov. 13, crypto asset management firm CoinShares furthered the narrative that Bitcoin and altcoins are again attracting capital. Crypto institutional product AUM up 99% year-to-date Bitcoin, Ether (ETH) and some major altcoins are enjoying price gains as excitement over the possible approval of the United States’ first spot exchange-traded fund (ETF) grows. Since November 2022, the total crypto market cap has increased by $600 billion, data from TradingView confirms. Total crypto market cap 1-week chart. Source: TradingView The past two months, however, has seen a precipitous increase in funds being deployed to crypto investment products, CoinShares reveals. “Digital asset investment products saw inflows totalling US$293m ...

There’s an eight day window between Nov. 9 and Nov. 17 where all 12 spot Bitcoin ETF filings could be approved by the SEC, according to Bloomberg ETF analysts James Seyffart and Eric Balchunas. The United States Securities and Exchange Commission could approve all 12 of the pending spot Bitcoin (BTC) exchange traded fund (ETF) applications within the next eight days.  Bloomberg ETF analysts James Seyffart and Eric Balchunas wrote that starting from Nov. 9 the SEC has a “ window ” to approve all 12 spot Bitcoin ETF filings — including Grayscale’s conversion of its GBTC trust product — in the days leading up to Nov. 17, but stressed this was only a possibility. New Research note from me today. We still believe 90% chance by Jan 10 for spot #Bitcoin ETF approvals. But if it comes earlier we are entering a window where a wave of approval orders for all the current applicants *COULD* occur pic.twitter.com/u6dBva1ytD — James Seyffart (@JSeyff) November 8, 2023 “Delay orders were issued ...

ProShares , a major issuer of exchange-traded funds ( ETF s), has introduced the first ETF designed to short Ether as the cryptocurrency market experiences heightened volatility. The ProShares Short Ether Strategy ETF (SETH) began trading on the New York Stock Exchange on November 2nd. It aims to allow investors to profit from declines in ETH’s price through exposure to ETH futures contracts. “SETH is designed to address the challenge of acquiring short exposure to ether, which can be onerous and expensive,” said ProShares CEO Michael Sapir in announcing the new fund. Also Read: US Government Arrests Founders of SafeMoon Crypto Token ProShares launch comes amidst market volatility The launch comes amid whipsawing prices across crypto markets in 2023. ProShares said the fund offers a convenient way to bet against further ETH drops within traditional brokerage accounts. ProShares has rolled out other crypto-linked ETF s. These include funds that tr...

Numerous Ethereum futures exchange-traded funds [ ETF s] initiated their trading in the United States. On the morning of Oct. 2, 2023, a consortium of investment companies, including ProShares, VanEck, Bitwise, Valkyrie, Kelly and Volshares, jointly launched a total of nine ETF s on the Chicago Board Options Exchange [CBOE]. Out of these funds, only five are exclusively composed of Ether futures. The remaining are a blend of Bitcoin and Ethereum futures contracts. Despite their initial hype as groundbreaking products, these ETF s did not have a significant impact. Collectively, on the first day of trading, all nine ETF s experienced trading volumes of less than $2 million. The most favored among these futures ETF s was Valkyrie’s BTF. This investment vehicle monitors a combination of Bitcoin and Ether. It garnered a total trading volume of $882,000. Furthermore, these Ethereum futures ETFs contributed to only 0.2% of the total trading volume, which was significantly lower than...

This week, The Market Report discusses why $22,000 is the next logical step for Bitcoin and why BitMEX co-founder Arthur Hayes claims the bull market started back in March. In the latest episode of Cointelegraph’s The Market Report , analyst Marcel Pechman explores the drivers that point to Bitcoin heading to $22,000, with investor sentiment worsening after Grayscale Investment’s much-hyped legal victory against the United States Securities and Exchange Commission (SEC) on Aug. 29 and its postponement of multiple spot Bitcoin (BTC) exchange-traded fund applications. According to Pechman, on the side of the bears are multiple lawsuits from the SEC against Binance and Coinbase, including a potential indictment from the U.S. Department of Justice regarding money laundering and facilitating trades from Russian entities. But, more importantly, U.S. inflation has come down to 3.2%, and the U.S. Federal Reserve is draining liquidity from the markets. Pechman also analyzes BitMEX founder Arth...

BTC trading volume at CME recently eclipsed Bybit, but what does this mean for Bitcoin's price? The Chicago Mercantile Exchange (CME) introduced its Bitcoin futures contract in December 2017. This was around the same time that Bitcoin (BTC) had reached an all-time high of $19,800, but by late 2018, the price had dropped to $3,100. Investors in cryptocurrencies quickly learned that CME derivative contracts allowed them to make bullish bets with leverage but also enabled them to bet against the price , a practice known as shorting. Historically, the Securities and Exchange Commission has rejected Bitcoin exchange-traded fund (ETF) proposals due to concerns about manipulation on unregulated exchanges. The growing significance of CME’s Bitcoin futures market might address this issue, and recently, Hashdex has even requested a Bitcoin ETF that relies on Bitcoin's physical trades within the CME market. Professional traders often use BTC derivatives to hedge risks. For instance, on...

Jacobi FT Wilshire Bitcoin ETF has been defined as an Article 8 fund by its issuer firm. The first-ever spot Bitcoin exchange-traded fund (ETF) launched on the European market has been classed as an Article 8 fund by its issuer firm, London-based Jacobi Asset Management. Funds included under Article 8 of the European Sustainable Finance Disclosure Regulation (SDFR) are those that “promote environmental and/or social characteristics.”  On Aug. 29, Bloomberg reported that Jacobi Asset Management had classified its Jacobi FT Wilshire Bitcoin ETF as an Article 8 fund. The fund, launched on the Amsterdam stock exchange on Aug. 15, becomes the first Bitcoin ETF traded in Europe, and the first to have the European Union’s environmental , social and governance investing rules applied. Related: Hashdex joins race for spot Bitcoin ETF with unique strategy The report cites Martin Bednall, the CEO of Jacobi, who is calling the ETF “fully decarbonized” for its partial investments in renewabl...

The U.S. Securities and Exchange Commission recently missed the second deadline for 21Shares and ARK Investment’s Bitcoin (BTC) ETF (Exchange Traded Fund) application. The agency missed the first deadline on June 29, and the second on Aug. 13. The SEC has not given any reason for delaying the decision. Moreover, under its guidelines, the agency has the authority to delay an ETF application by up to 240 days. However, what’s even more concerning is that in the coming week, seven different applications will be approaching their first deadline. BlackRock, the world’s largest asset manager, is one of those seven. The SEC’s first deadline for BlackRock’s application is Sept. 2, less than a week away. Given that the agency has consecutively missed two deadlines for ARK Invest and 21Shares’ Bitcoin ETF applications, there is no guarantee that they won’t do the same for the others. Also Read: Bitcoin Remains a ‘Store of Value’ During Inflation Con...

The Bitcoin futures' premium surge is having traders ask whether this is excitement or a return to the average after a multi-month bear market. The Bitcoin (BTC)  futures ' premium has reached its highest level in 18 months on July 4. But traders are now questioning whether the derivatives metrics indicate "excessive excitement" or a "return to the mean" after a prolonged bear market. BTC price gains capped by regulators, macroeconomics Bitcoin's price has been trading in a narrow 4.4% range since June 22, oscillating between $29,900 and $31,160 as measured by its daily closing prices. The lack of a clear trend might be uncomfortable to some, but that is a reflection of the opposing drivers currently in play. For instance, investor sentiment was negatively affected by the historic reversion of the U.S. Treasury yield curve, which reached its highest level on record. U.S. 10-year / 2-year spread. Source: Real Investment Advice The closely monitored inve...

Bloomberg’s senior ETF analyst believes BlackRock has an even chance of getting its Bitcoin ETF green-lit, as Grayscale looks more likely to win its case against the SEC. Investment management firm BlackRock has a 50% chance of getting its spot Bitcoin (BTC) Exchange Traded Fund (ETF) approved , says Bloomberg’s senior ETF analyst Eric Balchunas.  Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chance s of Grayscale winning its case against the SEC at 70%. Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock's ETF as way to save face using trusted 'adult' TradFi cos & stick it to Grayscale via @JSeyff pic.twitter.com/pHydOcpuQo — Eric Balchunas (@EricBalchunas) June 27, 2023 Balchunas explained that the SEC may look more favorably...

The first and the last major attempt to encourage a comprehensive crypto framework was buried in the House of Commons on Nov. 23. In October, Toronto-based Coinsquare became the first crypto trading business to get dealer registration from the Investment Industry Regulatory Organization of Canada (IIROC). That means a lot as now Coinsquare investors’ funds enjoy the security of the Canadian Investment Protection Fund in the event of insolvency, while the exchange is required to report its financial standing regularly.  This news reminds us about the peculiarities of Canadian Regulation of crypto . While the country still holds a rather tight process of licensing the virtual asset providers, it outpaces the neighboring United States in its experiments with crypto exchange-traded funds (ETFs), pension funds’ investments and central bank digital currency (CBDC) efforts. An era of restricted dealers Coinsquare, which happens to be Canada’s longest-operating crypto asset trading platf...