Grayscale Updates Spot Bitcoin ETF Filing
Grayscale submitted an updated filing for its pending Spot Bitcoin ETF to the US Securities and Exchange Commission (SEC) on November 22. This update is a modified version of the registration form of the S-3 package insert. According to Bloomberg ETF analyst James Seyffart, Grayscale is paying attention to these updates in response to feedback from the SEC.
BlackRock Meets SEC for Spot Bitcoin ETF
According to a November 20 SEC note, BlackRock made a presentation on how it could use a cash settlement model for its iShares Bitcoin Trust ETF. The SEC’s reaction to this submission is not yet clear. BlackRock is one of many firms, including Fidelity, WisdomTree, Invesco Galaxy, Valkyrie, VanEck and Bitwise, that have spot crypto ETF applications pending a response from the SEC.
Hester Peirce Says SEC Should Not Block Spot Bitcoin ETFs
Commissioner Hester Peirce of the US Securities and Exchange Commission (SEC) commented on the pending spot Bitcoin ETFs to Bloomberg on November 22. While Peirce could not comment on currently active ETF offerings, he said he was open to approving such a product. Peirce stated that each product should be evaluated on its own merits and that he saw no reason to reject the applications.
JP Morgan Assessed the Deal Positively
JP Morgan assessed the agreement between the US and Binance as positive for the crypto exchange and the industry. According to JP Morgan analysts, the deal eliminates the potential risk of a possible Binance collapse.
Important Developments in Solana Data
PYTH, a newly introduced token on the Solana network, announced an Airdrop of approximately 250 million tokens. This event led to significant changes in some Solana data. In the Solana network, the volume exceeded $490 million. The highest volume in the previous months was $466 million. In addition, the network’s fees have also increased, reaching their highest levels this year.
UK Announces Digital Asset Sector Bill
The UK’s mini-budget announcement yesterday included content to facilitate the growth of the digital asset sector. The government will introduce new legislation aimed at the growth of the digital asset sector, called the Digital Securities Sandbox. The Budget statement said that in 2023, it will make the Edinburgh Reform announcement on the introduction of the Financial Market Infrastructure Sandbox.
OpenAI CEO Sam Altman Returns to His Role
Yesterday, OpenAI announced the reappointment of Sam Altman as CEO and the appointment of new board members. Sam Altman’s departure over the weekend sparked criticism from numerous OpenAI employees and led to a collective memo being sent to the board threatening mass resignation if the board did not formally resign. Altman’s dismissal was attributed to an alleged lack of consistent transparency in communication with the board.
New Integration from Polygon
The city of Lugano, Switzerland, recently integrated Polygon PoS into its payment app MyLugano. With this update, the app will have a dedicated section that will allow users to access their crypto wallets. This section is intended for more experienced users and will help users gain access to a wallet similar to MetaMask.
Bitcoin Hash Rate at Historic High
Bitcoin’s hash rate is at an all-time high. According to the data, the Bitcoin hash rate reached 491 exahashes per second (TH/s) on Wednesday. This means that every second, every mining machine in the world calculates 491 quintillion hashes.
Bitcoin is priced at $ 37,308 with a 0.25% loss in value as of today morning hours. We were able to test the middle part of the rising channel again with the rise that came in the evening hours yesterday, but we could not exceed $ 38,000. A gain of $38,000 could take the price to $40,000. The next destination will be the journey to the upper part of the ascending channel. The $39,000-$40,000 range is a strong resistance zone and it is quite likely to be rejected from here. If there is a downward correction, this time a retracement up to $35,000 may be seen.
ETH, which gained 0.03% as of morning hours, is priced at $ 2063.28. Yesterday’s price increase broke the downtrend in the medium term. Although it rose to $ 2090, it could not see $ 2100 again, but it continues to rise after a healthy retest in the broken trend. The first resistance level seems to be 2120 dollars. If a deeper retracement occurs as support, we can determine $ 2000.
As of morning hours, XRP is priced at $ 0.5906, down 0.21%. XRP also shows a downtrend breakout in the medium term. If an upward movement continues, the first target could be to go to $0.64. With the regain of $0.64, a rise up to $0.70 can be seen. If the retest deepens, $0.59 is a strong support position.
AVAX is priced at $ 20.96 with a 0.77% gain as of morning hours. With yesterday’s rise in AVAX, it provided permanence above 20 dollars. Although its movement is slow compared to other altcoins, there is a lot of innovation in the network and the price is increasing at a very healthy rate. 22 dollars is the resistance zone and above this point, AVAX can take AVAX up to 24 dollars again. If there will be a retreat, the first support position is $ 20, and if there is a deeper deepening, a retreat up to $ 19 can be seen.
SOL is priced at $ 58.33 with a gain of 0.71% as of morning hours. When we examine the four-hour chart, we see that a reaction was taken from the 51.60 region, which was the support level yesterday, and the rise continues at the moment. The resistance level of 61.40 is an important level for the continuation of the rise. With the crossing of this level, it may be possible to see an increase towards the $ 66 level. When we examine the support points, the 55 level can be followed.
As of morning hours, LINK is pricing at 14.583 with a 2.61% gain in value. When we examine the four-hour chart, we see that it is above the 14,477 resistance zone. In case of persistence above this level, there may be an increase towards the 15,200 level. 14,400 and 14 levels can be followed as support levels.
IMX is pricing at 1.4890 with a gain of 7.57% as of morning hours. When we examine the daily chart, we see that there is a strong rise. If the rise continues, the level of 1.5580 dollars appears as an important resistance point. In case of a pullback, the 1.36 level can be followed as support.
UMA is priced at $ 1,922 with a 6.3% gain as of morning hours. When we examine the daily chart, we see that the rectangle pattern is formed and the pattern is broken upwards. If the rise continues, we may see a rise towards the 2.050 level. As support levels, 1.860 and 1.750 levels can be followed.