The presidential hopeful gave Bitcoin eloquent praise as a future support for the US economy and way to fix broken American money and society.
The post Bitcoin Bounces Back to $67,800: Bullish Signs and Trump’s Speech Fuel the Surge appeared first on Coinpedia Fintech News Bitcoin is back up to $67,800 and fighting the resistance after staying below the $65,000 zone. The lowest price point Bitcoin touched was $63,506.36 before it started riding back up. Let’s understand the reasons behind the rise of Bitcoin. Charts showing Bullish Signs The hourly chart shows small moving averages like 20 and 50 crossing over to the bigger averages 100 and 200, which is a bullish move. The price is moving in a very strategic order, taking corrections after every few hours. If the price does not take regular small corrections, it will take a big correction after reaching a particular point. Source : TradingView External Factors boosting BTC Price On a 4-hour chart, we can see Bitcoin is trying to get a closing on the support level of $67,800 so it can retest the latest support. This surge in price is also due to the reason that crypto pro Presidential candidate Donald Trump would be speaking at the Bitcoin conference 2024 going on in Nashville on Saturday. Along with that, the Bitcoin ETFs are also seeing a rise in inflows. All these sentiments are showing that investors are regaining their trust in Bitcoin. Source : TradingView Technical Indicator Support Bullish Outlook In the 4-hourly chart, we can see a crossover in the MACD chart that shows the bulls are getting in power. On the other hand, if we check the liquidation data of Bitcoin, we can see a huge number of short traders got liquidated, indicating the bullish market movement. Source : CoinGlass Data from IntoTheBlock shows 93% of the people are in the money for Bitcoin and 7 percent are “at the money”. Source : IntoTheBlock Current Market Conditions At the time of writing, Bitcoin is trading at a price of $67,988 with a rise of 3.38% in the last 24 hours, even though the trading volume of BTC has reduced by 20.32%. The Fear and Greed Index is at 59 and has the market dominance of 55.4%. What to Expect Historic data shows that the market has a tendency of taking a small correction after it surges and breaks a resistance. It is required so the market can retest the latest support. As of now, the price of Bitcoin is exactly at the support zone. And before it can proceed towards the $68,000 resistance zone it might need to consolidate at this zone for a few hours. Also, watch out for Donald’s speech at the Nashville conference, it can give a sudden pump to Bitcoin.
The post Ethereum (ETH) ETF Approved by SEC: Altcoin Investors Flock to New Crypto Presale Token for Massive Gains! appeared first on Coinpedia Fintech News In a significant move, the Securities and Exchange Commission (SEC) has approved the Ethereum ETF, sparking enthusiasm within the cryptocurrency community. This decision is a milestone for Ethereum, signalling its increasing acceptance and integration into financial markets. Ethereum (ETH) ETF: A New Approach to Crypto Investments The approval of the Ethereum ETF represents a major step forward, offering both institutional and individual investors a more convenient and regulated means to invest in Ethereum. This ETF allows investors to participate in Ethereum’s growth without having to buy and store the cryptocurrency, streamlining the investment process while mitigating risks. Sparking Interest in Emerging Tokens With the endorsement of Ethereum through an ETF, investors are not only drawn to Ethereum (ETH) but are also exploring up-and-coming tokens promising lucrative returns. Among these, Pawfury (PAW) has emerged as a top choice, attracting significant interest and investments. Pawfury (PAW): A Rising Star in Cryptocurrency Pawfury (PAW) is swiftly gaining recognition as one of the most exciting new tokens on the market. Pawfury, with its mix of practicality and fun, presents a combination of high-yield staking rewards and a tokenomics model designed to reduce supply, appealing to both experienced and new investors. Noteworthy Aspects of Pawfury: Lucrative Staking Rewards: It offers opportunities for staking, enabling investors to earn passive income effortlessly. Tokenomics Focused on Reducing Supply: Through strategies like buybacks and burns, Pawfury aims to enhance scarcity and value over time. Community-Driven Progress: The active and dedicated community plays a significant role in its growth and acceptance. Excitement Surrounding Pawfury: What Investors Should Keep in Mind Pawfury has garnered attention with the Ethereum ETF approval, creating a buzz in the investment world. Here’s what makes it an intriguing prospect: Impressive Presale Results: The presale for Pawfury has raised $4.5 million so far, showcasing strong investor interest and demand. Accessible Investment Opportunity: With a presale price, Pawfury provides investors with a convenient entry point to potentially benefit from its future growth. Positive Return Potential: Analysts anticipate that once listed on exchanges, Pawfury could yield returns ranging from 25×40 times the investment, making it an appealing choice for investors. Presale Sucess Celebration with 10% Extra Bonus To celebrate its success, Pawfury is also offering a 10% extra bonus promotion, giving investors the opportunity to use the code TOKENBONUS10X for added benefits. In Summary The recent approval of the Ethereum ETF by the SEC marks a significant development, creating new opportunities for cryptocurrency investments. As Ethereum gains mainstream attention, emerging tokens like Pawfury are well-positioned to benefit from growing investor interest. With its promising features and strong performance in the presale phase, Pawfury emerges as a top contender for substantial growth.! For more details, you can visit Pawfury’s website.
Grayscale must await final regulatory signoff on its registration filing before listing the fund
The two Republican senators claimed that if their party wins control of the Senate, they will stop the SEC’s “regulation by enforcement.”
After years of consequential silence on digital assets, the top Republican on the Senate Banking Committee stormed a Bitcoin 2024 stage as a booster.
The post Michigan’s Pension Fund Dives into Bitcoin: A Bold Move into the Crypto World appeared first on Coinpedia Fintech News The State of Michigan Retirement System has taken a pretty interesting step into the crypto world. On July 26, they filed a 13-F form with the United States Securities and Exchange Commission (SEC) and revealed they’ve bought 110,000 shares in the ARK 21Shares Bitcoin ETF (ARKB). This is worth around $6.6 million. It’s showing us how much institutional investors are getting into digital assets. A Growing Trend Among Pension Funds Eric Balchunas, who’s a senior ETF analyst at Bloomberg, pointed out this move is pretty significant. He thinks Michigan’s decision is a big shift for pension funds looking at Bitcoin ETFs. Source : X(formerly Twitter) But Michigan isn’t the only one doing this. Earlier this year, the State of Wisconsin Investment Board (SWIB) put $164 million into Bitcoin through BlackRock’s IBIT ETF and Grayscale’s Bitcoin Trust (GBTC). And then, Jersey City’s Mayor Steven Fulop said the city’s pension fund will invest 2% in Bitcoin ETFs. This shows more and more trust in digital currencies. Source : X(formerly Twitter) Following the Leaders Michigan’s investment is a tiny part (0.004%) of its big $143.9 billion pension fund, but it’s still a big step. It’s following what Wisconsin did with their $99 million Bitcoin investment through BlackRock’s IBIT ETF. Alex Valaitis, the Cofounder of Chateau Capital thinks that by 2028, all 50 states might have some crypto in their pension funds. It’s interesting to see more states seeing the benefits of digital assets. Even French Pension plan has Bitcoin ETN. Source : X(formerly Twitter) Market Performance and Interest Since the SEC approved spot Bitcoin ETFs on U.S. exchanges in January, these have done really well. They’ve brought in over $17 billion in inflows, according to Farside investor data. This shows that institutions are really interested in cryptocurrencies. For example, the U.S. Bitcoin Spot ETF got $75 million in just two days, showing high demand and confidence in these assets. Strategic Implications for the U.S. Putting Bitcoin in Michigan’s pension fund is more than just financial diversification; it shows a bigger focus on digital assets. There are even talks about the U.S. maybe adopting Bitcoin as a strategic reserve asset. This would mean the U.S. Treasury holding a lot of Bitcoin, similar to how they hold gold and foreign currencies. Conclusion Michigan’s investment in the ARK 21Shares Bitcoin ETF is a big moment for institutional adoption of cryptocurrencies. With states like Wisconsin and cities like Jersey City doing the same, putting Bitcoin into public pension funds is becoming more common. This acceptance and integration of digital assets into traditional investments highlight the potential of cryptocurrencies and set the stage for more innovation and investment in the crypto space.
US Senator Lummis recently authored a report highlighting the benefit of the Bitcoin mining industry and denouncing Biden’s proposed 30% tax.