Bitcoin (BTC): Volatile day after fake news about a spot Bitcoin ETF approval caused a $50 million liquidation. Currently holding above $46,000 with anticipation around a real decision from the SEC.
Ethereum (ETH): Lagging behind BTC with ETF anticipation, dipping to a 32-month low in terms of BTC value.
Overall Market: Cryptocurrencies continued gains earlier in the week, potentially fueled by ETF speculation.
Major News:
SEC Hacked: The SEC's Twitter account was briefly compromised, leading to a fake tweet announcing Bitcoin ETF approval, causing market chaos.
Apple Removes Crypto Apps: Apple pulled apps of major exchanges like Binance and Kraken from its Indian App Store citing non-compliance with local regulations.
BitGo Approval: Crypto custodian BitGo received in-principle approval as a Major Payments Institution in Singapore, a significant move for the company.
Ethereum Scalability: SKALE, an Ethereum Layer-2 network, launched live chain pricing on its mainnet, potentially improving transaction speed and cost.
Other Key points:
Bitcoin ETF approval, expected next week, could create selling pressure on CME futures contracts according to some analysts.
Standard Chartered predicts up to $100 billion inflows into Bitcoin ETFs if approved by the SEC.
New York's BitLicense program for crypto businesses faces criticism from the state comptroller.
Remember: This is a fast-moving market, so be sure to follow reputable sources for the latest updates and do your own research before making any investment decisions.
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