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Cryptocurrency prices rose early Friday but then dropped sharply following a report that the SEC had deemed recent spot BTC filings inadequate.
Bitcoin cash added the most, almost tripling over the course of the month.
The latest price moves in crypto markets in context for June 30, 2023.
With the expiry done, the supposed price magnet at $26,500 from the max pain point is gone and prices could resume the upward journey, a common pattern during the bull market days of 2021.
The crypto exchange is faced with several risks that could trigger a reversal of the stock’s recent gains, the report said.
The latest price moves in crypto markets in context for June 29, 2023.
With today’s 17% gain, BCH has now more than doubled in the week since it was listed on EDX Markets, a new crypto exchange backed by financial heavyweights.
Technical improvements and a listing on EDX Markets have likely fueled trading interest in bitcoin cash tokens.
The latest price moves in crypto markets in context for June 28, 2023.
ALSO: Fast-paced, entrepreneurial Seoul ranked fourth globally in CoinDesk's crypto hub series. Korea's digital asset friendly, regulatory environment and a vibrant retail community have helped enabled the industry's rising prominence in the city.
- 23:10Companies including Circle, Ripple and others are vying for the seats on the encryption committee promised by TrumpAccording to Reuters, a series of cryptocurrency companies including Circle, Ripple, Kraken, Coinbase, a16z and Paradigm are vying for seats on the Cryptocurrency Advisory Committee promised by President Donald Trump in his election campaign. They seek to have a say in his planned US policy reforms. During his campaign at the Bitcoin conference held in Nashville in July, Trump promised to establish a new committee as part of a crypto-friendly government. Insiders said that his transition team is discussing how to organize and arrange personnel and which companies should be included.
- 23:05President of Jiaxin Wealth Management: Once regulations change, we will consider offering spot cryptocurrency tradingCharles Schwab President Rick Wurster said in a Bloomberg Radio interview on Thursday that the company would consider offering spot cryptocurrency trading once U.S. regulations allow it, and this is more likely to happen after Donald Trump took office as president. "When the regulatory environment changes, we will enter the field of spot cryptocurrencies. We do expect it to change and we are preparing for this possibility," Rick Wurster said. He also stated: "Cryptocurrencies have indeed attracted a lot of attention, people have made a lot of money from them, I haven't bought any cryptocurrencies and now I feel silly." Wurster added that he has no plans to invest in cryptocurrencies for now but supports Charles Schwab clients who want to invest in this area.
- 23:04The New York Federal Reserve says that banks have sufficient reserves, indicating no obstacles to continue shrinking the balance sheetThe latest data from the New York Federal Reserve shows that the Federal Reserve has encountered no obstacles in continuing to reduce the scale of its balance sheet. The New York Fed reported on Thursday that its reserve demand elasticity index was -0.15 on November 13, remaining stable compared to a month ago. The New York Fed stated in its report that "reserves are still sufficient". This index began to be publicly released a month ago, aiming to show the abundance or tension of bank reserves. A shift towards negative values may indicate an intensification of bank reserve tensions, which directly explains that the Federal Reserve is continuously striving to reduce bond holdings through quantitative tightening (QT). The indicator from the New York Fed suggests there is no immediate need for this process to stop, aligning with recent comments by Fed officials and market expectations; currently, it's expected that quantitative tightening will end at some point next year.
