BlackRock Reapplies for Spot Bitcoin ETF
BlackRock re-filed for an ETF last week after the SEC deemed its spot Bitcoin ETF applications insufficient. Nasdaq has teamed up with BlackRock and Coinbase to bid to list a new spot Bitcoin ETF.
USD 120 Million Inflows to Digital Asset Funds
According to the weekly Digital Asset Funds report published by Coinshares, there was an inflow of 125 million dollars to the funds last week. Following the ETF news, the 9-week outflow streak ended the previous week with a record inflow. We see that inflows continued last week as well. Bitcoin topped the inflows with $123 million, accounting for 98% of the two-week asset flow.
Bored Ape Yacht Club Prices Continue to Fall
Following last week’s sell-off in NFTs, large blue-chip projects such as BAYC retreated to their lowest levels of the last 2 years, leading to investor unease.
Crypto Ban from Belarus
Belarus bans peer-to-peer (P2P) asset transfer operating in the country In a Telegram post shared by the country’s Internal Affairs Directorate, government officials stated that they will ban P2P cryptocurrency transfer in Belarus and that they are preparing legislation on this issue.
Thailand Restricts Crypto Custody and Lending Platforms
Regulators in Thailand are introducing new restrictions on crypto assets. The new laws aim to control the advertising of companies providing custody and borrowing services and to increase customer safety. As part of protecting client safety, the Thai SEC banned the use of clients’ assets for investment and borrowing. However, it also asked them to put clearer warnings on their websites about the risks of cryptoassets.
BITCOIN (BTC)
Bitcoin is priced at $ 31,078 with a 0.26% loss in value as of today morning hours. We see that the horizontal movement in Bitcoin started to rise with the BlackRock news yesterday and broke the 31,000 resistance upwards and rose to 31,400. If Bitcoin, which retested the 31,000 level with the subsequent return movement, can manage to stay above this level, the short-term price target of the break of the horizontal channel movement seems to be the 32,400 region.
ETHEREUM(ETH)
ETH, which gained 0.09% as of morning hours, is priced at $ 1954. Ethereum had two different horizontal channel movements between 1770-1935 and 1855-1935. With the arrival of the 1935 breakout yesterday, we see that Ethereum is also on the rise and although it rises to $ 1980 levels, it eats profit sales before reaching $ 2000 and this puts downward pressure on pricing. If there is a possible re-test in Ethereum, if the 1935 level can remain strong, the targets of 2000 and 2045 dollars can be evaluated.
