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Bitcoin ETF applications need refiling, the SEC says, but as BTC price dips to $29,500, markets instantly fear that the fight is over. Bitcoin (BTC) fell below $30,000 after the June 30 Wall Street open as markets panicked over the fate of its first spot exchange-traded funds (ETFs). BTC/USD 1-hour chart. Source: TradingView Bureaucratic error may explain Bitcoin ETF filing hiccup Data from Cointelegraph Markets Pro and TradingView showed BTC price action hurtling downward, briefly reaching $29,500. The volatility accompanied a report that United States regulator the Securities and Exchange Commission had refused applications for the first Bitcoin spot-price ETF. Those applications had kickstarted the latest BTC price rebound, one which had taken the largest cryptocurrency to new yearly highs. Related: Why approving a Bitcoin ETF might unleash $18B in sell-pressure Claims by The Wall Street Journal, which cited an unidentified source, that they had now been returned, saw BTC/USD hit

The cryptocurrency market has seen a surge of new assets entering the scene in recent years, which has somewhat overshadowed the presence of established digital assets. Bitcoin Cash [BCH] was one such asset that had been relatively quiet for a while. However, it has recently made a comeback, grabbing attention with its notable trajectory and making headlines once again. Over the course of this week, Bitcoin Cash experienced a remarkable surge of more than 113%. Today, the altcoin reached a significant peak at $305.64. At press time, BCH was trading at $300.90, reflecting a daily increase of 31.8%. Source – BCH/USDT Chart on TradingView The upward movement of Bitcoin Cash is clearly evident when analyzing its four-hour price chart. Furthermore, the Relative Strength Index [RSI] indicator points out that BCH has been experiencing overbought conditions during this uptrend. Presently, the altcoin remains in the overbought territory. In addition to the surge in its price, the market capital

Bitcoin ETF requests, miners' sell pressure, and regulatory hurdles create uncertainty for the $31,000 BTC price resistance. The $4.7 billion Bitcoin (BTC) monthly options expiry on June 30 might play a decisive role in determining whether the $30,000 price will consolidate as long-term support and open room for further bullish momentum. Why is Bitcoin breaking yearly highs? Many analysts consider Bitcoin's recent breakout above $27,000 a bet on the multiple spot Bitcoin exchange-traded fund (ETF) request applications, including those of BlackRock and ARK Invest. The news also fueled expectations for Grayscale to be able to convert its Grayscale Bitcoin Trust (GBTC) to a Bitcoin ETF.  $31,000 caps Bitcoin price gains for now On the other hand, Bitcoin bears will try to take advantage of macroeconomic and regulatory headwinds, including exchanges implementing mandatory Know Your Customer (KYC) procedures. On June 28, KuCoin announced the upcoming KYC system upgrade in a move to

In what seemed to set off a run of traditional finance firms joining the digital asset space, asset manager BlackRock announced its filing for a Spot Bitcoin ETF. Yet, with the announcement comes the quest for regulatory approval. Subsequently, one analyst has stated that the BlackRock Bitcoin ETF has a 50% chance of gaining US Securities and Exchange Commission (SEC) approval.  Senior analyst at Bloomberg, Eric Balchunas has stated that the new ETF has an equal chance of gaining the coveted approval. Moreover, Bachunas states that the move could be the regulator’s attempt to “save face” by accepting the presence of Traditional finance in the space.  Another reason we give spot bitcoin ETF approval 50% chance is our senior legal analyst @NYCStein gives Grayscale a 70% chance of winning case against SEC, who could approve BlackRock's ETF as way to save face using trusted 'adult' TradFi cos & stick it to Grayscale via @JSeyff pic.twitter.com/pHydOcpuQo — Eric Balchunas (@

Former members of the now-defunct FTX.US accounting team, now operating as The Network Firm, have conducted the attestation of TrueUSD’s proof-of-reserves (PoR) as the stablecoin seeks to regain stability following a brief de-pegging incident. TrueUSD , the embattled stablecoin, has undergone an audit of its PoR. The task was entrusted to The Network Firm. The team responsible for this attestation previously collaborated with the disgraced Sam Bankman-Fried on the books for FTX.  The Network Firm emerged from Armanino’s digital-asset practice, which halted its crypto audits last year, illustrating the challenges crypto firms face in obtaining audits and reserve attestations from established accounting firms. Notably, Mazars also suspended its proof -of -reserves work for crypto clients. You might also like: Binance auditor Mazars suspends crypto-related client work TrueUSD has encountered several setbacks of late, including a temporary pause in minting tokens via Prime

Robert F. Kennedy Jr. has been a vocal Bitcoin proponent. Time and again, he has signaled his support for the largest crypto asset. Through a recent tweet, the 2024 presidential candidate assured Americans, “As president, I will make sure that your right to use and hold Bitcoin is inviolable.” JUST IN: Presidential candidate Robert F. Kennedy Jr. says he "will make sure that your right to use and hold #Bitcoin is inviolable." — Watcher.Guru (@WatcherGuru) June 27, 2023 Also Read: US Presidential Candidate Robert F. Kennedy Jr. Says Bitcoin is an Escape Route For When The “Bubble Invariably Bursts” Bitcoin is a defense against money supply manipulation: Kennedy Kennedy further labeled Bitcoin to be a “bulwark against totalitarianism and the manipulation of our money supply.” According to him, the asset also “points the way toward a future in which government institutions are more transparent and more democratic.” Moreover, Kennedy has assured citizens that he will make sure t

Identifying a cryptocurrency for making an investment requires a sincere Analysis . In the current market conditions, most cryptocurrencies, including well-established PR ojects like Polkadot (DOT) and Polygon (MATIC), have fallen into the red zone. Therefore, it is necessary to critically observe the market performances of all cryptocurrencies before investing. Currently, experts have high hopes for Tradecurve. This new PR oject has made everyone turn their heads with its massive PR esale success. Its unique business roadmap has put it in a dominating position in the market. BUY TCRV TOKENS NOW Polkadot’s (DOT) Staking Ecosystem Crumbles Polkadot (DOT) has maintained high development activity on its network in the past few days. According to the latest data, the number of code commits on the Polkadot (DOT) network was over 8,800, which is second to Ethereum. Polkadot’s (DOT) weekly commits have been significantly higher than networks like Solana (3,402 commits), and Cos

Binance, the world’s largest cryptocurrency exchange, is facing setbacks in expanding its operations in German-speaking countries. It has recently decided to retract its license application from the Austrian financial regulator FMA. This withdrawal marks yet another setback in Binance’s efforts to expand its presence in Europe. As Binance grapples with challenges, the pressure on the world’s largest cryptocurrency exchange by trading volume is intensifying in Europe. While the exchange is already embroiled in a lawsuit filed by the US Securities and Exchange Commission (SEC), it also faces difficulties obtaining license s across European countries. According to an online magazine, Finance Forward in Germany, Binance has withdrawn its registration application with the Austrian financial supervisory authority FMA, allegedly due to undisclosed pressure from the authority.  Approximately a year ago, Binance publicly announced its plans for expansion into Austria, including launchin

The Compound price prediction reveals that COMP may find a halt at $35 as the price is down by 1.06% over the last 24 hours. Compound Prediction Statistics Data: Compound price now – $37.3 Compound market cap – $285 million Compound circulating supply – 7.6 million Compound total supply – 10 million Compound Coinmarketcap ranking – #108 COMP/USD Market Key Levels: Resistance levels: $50, $52, $54 Support levels: $27, $25, $23 COMPUSD – Daily Chart COMP/USD may drop further lower to find support at the $30 level. However, the daily chart reveals that the Compound price may go lower below the 9-day and 21-day moving averages if the sellers increase the pressure. Moreover, if the bears continue to push the market further lower, immediate support below the $30 level may be located. Beneath this, further support may be found at $27, $25, and $23 levels. Compound Price Prediction: COMP Price May Retreat to Trade Bullishly As the daily chart reveals, if buyers can hold the sup

Key Events To Impact Markets This Week Investors need to keep a close eye for fresh guidance from major events this week. Expect volatility this week amid GDP and Inflation data releases, central banks officials’ speeches, and other macro events. advertisement June 26 European Central Bank President Christine Lagarde to give speeches at the 2023 ECB Forum on Central Banking on monetary policy and Inflation challenges in the Euro area on Monday and Tuesday. The US Treasury Dept to auction 3-month and 6-month treasury bills, as well as the 2-year treasury note. June 27 ECB officials to give speeches during the 2023 ECB Forum on Central Banking for monetary policy outlook and taking efforts to bring Inflation to its target. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read

SEC Chair Gary Gensler appeared on CNBC’s Squawk Box to discuss the recent lawsuits filed by the SEC against Binance and Coinbase. The lawsuits accuse both platforms of operating as unregistered securities exchanges. Gensler’s main thrust was that Coinbase, Binance and other crypto exchanges are evading American regulation and that “there’s been clarity for years.” “It’s fundamentally a lack of controls, deception, [and] conflicts,” Gensler said. “The whole business model is built on non compliance with the US securities laws and we’re asking them to come into compliance so they’re going a bit of ‘catch us if you can.’” Gensler repeatedly touted the SEC’s claim that Binance CEO Changpeng Zhao commingled customer funds with those of his trading firm Merit Peak Limited as an example of why crypto exchanges need more oversight. Binance denied this allegation. Binance was a continued target in the interview on CNBC, with fewer mentions of Coinbase. To that end, Gensler suggested that

Mark Yusko, the founder and chief investment officer of Morgan Creek Capital, says that Bitcoin (BTC) and the cryptocurrency markets are now in bull territory. Yusko says in a new interview with CNBC that Bitcoin and the crypto markets are in the early stages of a new bull market that could last until BTC’s next split event next year. “I think the rally is just beginning. We just entered what’s called the seasonal period of crypto summer. There’s this four-year cycle around something called the halving which is where the block rewards for the Bitcoin blockchain change every four years. That causes a period of accumulation going into that. That event will occur next April. Then we usually get a speculative blow-off after the halving event and then an overreaction on the downside called crypto winter.” Yusko also says again what he thinks is the best way to use Bitcoin. The boss at Morgan Creek Capital said that Bitcoin is about to take the place of gold as the

Bitcoin Cash (BCH) gained nearly 80% in the last four days. The price of BCH rose from $109.73 on June 20 and rallied significantly to $199.00. According to Santiment, Bitcoin Cash is the highest beneficiary of the EDX Markets launch. Data from CoinmarketCap shows that Bitcoin Cash (BCH) gained nearly 80% in the last four days to become one of the highest gainers among the top-twenty cryptocurrencies. The price of Bitcoin Cash (BCH) rose from $109.73 on June 20 and rallied significantly to $199.00. Santiment, the market intelligence platform, has linked this extraordinary BCH price rally to the impact of the newly launched digital asset trading platform, EDX Markets. With the assistance of #EDXMarkets, launched on June 20th, #BitcoinCash has been the biggest beneficiary with a massive +79% price gain in 4 days. Notably, $BCH has seen a 3-year high in social discussion rates, & volume has easily eclipsed 2023 highs. https://t.co/6fz4RL28tH pic.twitter.com/MNn5

Terra Luna Classic Developers Prepare for USTC Repeg Ex-Terra Rebels and Quant team member RedlineDrifter took to Twitter on June 23 clarifying the drama related to USTC repeg and Joint L1 Task Force leaking confidential information. advertisement The developer teams will again work in coordination to convince crypto exchanges about USTC repeg efforts. The developers align with the Terra Luna Classic community that USTC repeg will help in ecosystem revival for LUNC. He revealed that the team reached out to major crypto exchanges via professor Edward Kim-founded Terra Grants Foundation and reXx. In fact, most exchanges reacted positively to Proposal 11487 “USTC Incremental Repeg, Buybacks, Staking, Swaps.” The centralized exchanges’ mentioning technical issues to support the proposal were shared with L1TF project manager LuncBurnArmy due to involvement in Terra Classic development. RedlineDrifter claims only reXx, LuncBurnArmy, and he knew about the informati