News Week, January 1-7: Bitcoin Volatility as Spot ETF Approval Date Approaches
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Bitcoin continues to gain momentum at the start of the new year, extending its success in 2023. The market jumped from $45,000 and hit a new 2024 local peak of $45,879 on January 2.
However, after Markus Thielen of Matrixport released a report predicting that the SEC would reject all Bitcoin ETFs, Bitcoin suddenly fell back to around $40,000, triggering a $470 million liquidation.
Immediately afterwards, Bloomberg analyst Eric Balchuna questioned the authenticity of the report, calling it market manipulation.
The market has quickly recovered to around $44,000 on the positive news for the Bitcoin ETF spot and is still struggling to keep prices around that area as the date for the SEC’s final decision approaches.
BTC Price Chart – 1 Day | Source: TradingView
let us Bitcoin Magazine Take a look at the breaking news in the first week of the new year 2024.
#1st.center point
A recent statement from VanEck’s Matthew Sigel revealed shocking news: BlackRock may receive a staggering $2 billion from current Bitcoin holders to establish a Bitcoin fund. ETFs are delivered immediately within the opening week.
If confirmed, the massive inflow would shatter all first-day and first-week trading volume and assets under management (AUM) records for exchange-traded funds.
The impact of a potential $2 billion in inflows in the first week was not only larger than expected, but completely outside of historical norms.
Rumor: BlackRock to invest $2 billion in Bitcoin spot ETF
Investment firm Goldman Sachs is in talks with BlackRock and Grayscale Investments for a key role in its proposed Bitcoin spot ETF.
The SEC said that if approved, Goldman Sachs could become an “authorized participant” in the BlackRock and Grayscale Investments spot Bitcoin ETF, meaning the Wall Street giant would “be allowed to purchase and redeem directly from the ETF ( redemption) shares,” the committee explained in a statement document.
However, no spot Bitcoin ETF has received SEC approval to date. However, experts said the regulator will make a decision between January 8 and 10. Goldman Sachs’ role as an authorized participant (AP) also requires approval.
Goldman Sachs in talks with BlackRock and Grayscale Investments to become AP ETF
Fidelity Bitcoin ETF approved to list on CBOE
#2. Altcoins
Toncoin (TON) Price Rejected by Long-Term Resistance, What’s Next?
Decoding the reasons why SOL prices dropped nearly 10% this week
Solana (SOL) Price Drops Below $100 – Should Bulls Be Worried?
Why Celestia’s TIA prices jump 25% to new ATH
#3.comminicate
Binance: There are many achievements and many hardships in 2023
Binance’s dominance fell to 44% last year amid escalating legal and regulatory issues
BitMEX makes history: sending Bitcoin to the moon!
#4.projects, agreements
Arbitrum One becomes the first Ethereum layer 2 network to surpass $10 billion in TVL
Ethereum Foundation to host Devcon 7 in Thailand
Cardano (ADA) breaks new ground in cross-chain compatibility
Osmosis hits $1 billion in monthly trading volume as interest in Cosmos surges
CEX trading volume exceeds US$1 trillion in December 2023
Dymension Announces January Token Airdrop – Details
Pixels Airdrop Announced – Here’s How to Get PIXEL Tokens
Less Fn Gas Solana system airdrops 40% of the total token supply to Ethereum users
Polkadot community launches new memecoin DED, promises airdrop
Arbitrum Orbit’s layer 3 chain can now pay transaction fees using selected ERC-20 tokens
Saga showcases token airdrops to ATOM, Solana, Polygon, and Avalanche communities
#5. Stablecoins, DeFi, Metaverse
Solana USDC trading volume breaks record, demonstrating stablecoin’s growing dominance
Tether overwhelms all other stablecoins, with total assets approaching $100 billion
Stablecoin USDC lost 3 pegs today on Binance, hitting lows of $0.74
#6. NFT, artificial intelligence, blockchain
Solana’s monthly NFT sales surpass Ethereum for the first time
NFT sales fell 63% year-on-year, market dynamics changed
The biggest NFT stories of 2023: From Bitcoin ordinal to the Blur craze
Dogecoin founder makes unexpected AI announcement
The market value of AI tokens surged 540% in less than a year
#7. Scams, Hacking
Radiant Capital gets $4.5 million stolen by hackers
Gamma Strategies announces investigation into $469,000 vulnerability
dYdX identifies mastermind who extracted $9 million from v3 chain
Phishing scam ‘stole’ $300 million from cryptocurrency investors in 2023
Taiwan’s ACE exchange under investigation after $32.2 million fraud discovered
#8.laws and regulations
China tightens cryptocurrencies with cold storage regulations
South Korea proposes ban on credit card purchases of cryptocurrencies
The “Today’s Coin Price” column will update market dynamics at 9:00 every day, and readers are sincerely invited to pay attention.
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