VanEck Amends Spot Bitcoin ETF Application
The amended filing highlights that a seed capital investor bought Seed Creation Baskets, a block of 50,000 shares of the proposed ETF, in October and that Bitcoin prices are determined by the MarketVector Bitcoin Benchmark Rate, an index used as a reference price for the cryptocurrency. According to financial lawyer Scott Johnsson, the application suggests that, unlike other Spot Bitcoin ETF offerings that are cash-seeded, the seeding of funds will be carried out in Bitcoin.
Ripple CEO Criticizes Comments by Former SEC Chairman Jay Clayton
Ripple CEO Brad Garlinghouse criticized former SEC Chairman Jay Clayton’s comments on cryptocurrencies. Garlinghouse recalled that Clayton left the SEC after his lawsuit against Ripple, suggesting that the former SEC chairman was biased against cryptocurrencies. Garlinghouse recalled that Clayton said in an interview in June that cryptocurrencies are “worth nothing” and “a vehicle for fraud.” Garlinghouse said Clayton’s remarks fueled the negative perception of cryptocurrencies and put investors at risk.
Standard Chartered-Backed Zodia Custody Expands in Hong Kong
Zodia Custody, a Standard Chartered-backed digital asset custodian, is launching its services in Hong Kong. The firm, headquartered in the UK, is entering the Hong Kong market following recent expansion in other jurisdictions in the Asia Pacific region, CNBC reported. Julian Sawyer, CEO of Zodia, told the media outlet that the huge demand from Hong Kong’s institutions made it an ideal market to target.
Spot Crypto Buying Rises to Levels Not Seen Since March
The recent crypto rally has pushed Bitcoin above $35,000 and pushed daily exchange volumes to their highest levels since the spring. This revitalized the previously sluggish market, reaching a level not reached since the end of March. According to the data dashboard, the seven-day moving average of the market’s spot foreign exchange volumes exceeded $24 billion on October 26.
Cantor Fitzgerald Sees Spot Bitcoin ETF as “Most Important Short-Term Catalyst
Analysts at Cantor Fitzgerald are increasingly confident that the SEC will approve the Spot Bitcoin Exchange Traded Fund (ETF) due to proposed market surveillance procedures by asset managers, according to a report by Bloomberg News. According to analysts at financial services firm Cantor Fitzgerald, the much-anticipated Spot Bitcoin Exchange Traded Fund is on the verge of becoming a reality.
Bitcoin is priced at $ 34,348 with a 0.51% loss in value as of today morning hours. It was rejected from the instability zone at a very important level in the weekly picture, but it is consolidating its place in that zone. If the price stops here, the first target is likely to be $ 35,000 and then $ 37,500. In case of a pullback, 33,500 is an important support zone, and in a harsher correction, there is a possibility of a decline to $ 32,000.
ETH, which lost 0.48% as of morning hours, is priced at $ 1786.60. Ethereum, which corrected downward despite climbing up to $ 1880, seems to have found support at $ 1730. The 1880 resistance is a very important zone and it is necessary for the price increase to continue. In the continuation of the downward movement, we can see that $ 1720 will work as support again and then $ 1680 will work as support again.
XRP is priced at $0.5524 with a 0.67% loss in value as of morning hours. At the weekend, the break above the horizontal band was successfully realized again. Staying above $0.55 for a long time is very important. In case of a pullback, 0.55 and then 0.54 dollars are likely to work as support. If the upward movement continues, we can see 0.57 and then 0.58 dollar levels.
AVAX is priced at $ 11.17 with a 1.67% loss in value as of morning hours. After being rejected at $11.40, it seems to have received support at $10.50. In the continuation of the downward movement, there may be a decline up to 10.20 dollars. If the upward movement continues, it needs to break above $ 11.50 again. Above $11.50 will take the price to the next resistances. After $12, the $12.50 level can be seen after the break of $11.50.
SOL is priced at $ 32.68, down 0.46% as of morning hours. SOL, which is traded above the $ 32.13 level, which we follow as a resistance zone, continues its horizontal movement in this region. With the $ 33 resistance level not being able to be broken strongly, we see that there is no upward movement. With the break of this level, it may be possible to see an increase up to $ 35 levels. In retreats, first $32 and then $30 levels can be followed.
As of morning hours, LINK is pricing at 10.988 with a 0.84% loss in value. Trading above the 10.603 resistance level, LINK continues its horizontal movement above this zone. In the continuation of upward movements, the 11,400 level appears as resistance. If it persists above this zone, it may be possible to see an upward movement up to 12 and then 12.50 levels. The closest support level is 10.60. Below this zone, it can be followed as 9.50 level.
TRX is pricing at 0.09427 with a loss of 0.66% as of morning hours. When we examine the weekly chart, it may be possible to continue upward movements with the upward break of the rectangle pattern. If this movement continues, the 0.010195 level appears as a resistance point. In case of a retracement, the upper band that was broken primarily in the 0.90-0.92 region can be followed as the 0.08555 support zone.