📈 Crypto Future: Crypto Market Weekly News You Can’t Miss! (08-14/01/24) 📈

And Here is the Expected Week; ETF Decision!

One of the Most Anticipated Weeks in Cryptocurrency History

This week will be one of the most anticipated weeks in cryptocurrency history; There's a good chance a bitcoin ETF will finally be approved by the SEC. This week, the Securities and Exchange Commission, or SEC, is expected to approve or reject the Ark 21 Shares Bitcoin Trust. This expectation caused bitcoin to gain 60% in value in the last three months.


The SEC is expected to approve multiple spot bitcoin ETF applications simultaneously to level the playing field. The 13 companies awaiting approval include BlackRock, Invesco, Fidelity, Grayscale, Ark, Bitwise and VanEck. Economist and author Noelle Acheson states that until a few months ago, most people thought this would not happen, but now it is likely to happen. JPMorgan analyst Kenneth Worthington says the entry of new assets into the cryptocurrency system with the launch of spot bitcoin ETFs will determine the sustainability of this rally.

The bullish scenario is that regulated bitcoin ETFs will bring new institutional demand for bitcoin at a time when bitcoin supply will decrease with the expected halving next spring.

Oppenheimer's Owen Lau states that fund flows are an important signal for the market and if the initial flow is weak, there could be downward pressure on the bitcoin price.

Bitwise released a survey showing that only 39% of financial advisors expect an ETF to launch this year, but 88% believe its approval would be a significant catalyst.

Acheson and Onramp Invest CEO Tyrone Ross think the initial market reaction may be disappointing, but the situation could become more interesting in the medium to long term as financial advisors learn more about the cryptocurrency class.

JPMorgan's Worthington notes that the rally initially began in anticipation of the launch of cryptocurrency spot ETFs, and specifically bitcoin Spot ETFs, and continued high activity, volume and prices could support the rally.

Crypto Market Weekly News You Can’t Miss!

Monday •
Fetchai mainnet upgrade voting will begin. $FET
Wednesday • PancakeSwap 2024 1st quarter road map will be announced. $CAKE • Spot Bitcoin ETF approvals are expected by January 10.

Thursday •
US annual inflation rate (CPI) - 16.30 (expected 3.2, previous 3.1) • If approved, Bitcoin ETF launches are expected. • SEC will hold a closed session meeting - 22.00

Friday •
US producer price index (PPI) - 16.30 (expected to be announced, previous 0.9)

List of coins to be unlocked (by supply amount) • $GMT ($24M) 1.47% (January 9) • $APT ($228M) 2.48% (January 12)