bnbgreenfield

From rejection to communication, SEC weighs BTC spot ETF proposal. Gensler, director of the U.S. Securities and Exchange Commission (SEC), said: The SEC is still communicating with companies applying for BTC spot ETFs, and the SEC is weighing proposals for BTC spot ETFs. Following the resubmission of revised spot BTC ETF prospectuses by ARK and Invesco, asset management giant Fidelity also resubmitted its BTC spot prospectus today. The SEC refused based on the previous reasons, and now communicates with it. Back to topic: The European Securities and Markets Authority said that investors will not be protected by EU cryptoasset market rules until at least the end of 2024, and even then, they should still be prepared to lose all their money. The European Union is the first jurisdiction in the world to approve a comprehensive set of rules to regulate the crypto asset market, which came into effect in June and will be fully implemented in December 2024. The Basel Committee, the global banking regulator, has proposed a standardized format that would require major banks to disclose their crypto asset holdings from January 2025 to support market discipline by providing investors with a complete picture. Banks will also be required to provide accounting classification details for their exposure to crypto assets and crypto liabilities. The U.S. Federal Trade Commission (FTC) has issued a consumer alert warning that crypto assets are not covered by the Federal Deposit Insurance Corporation (FDIC). If a cryptocurrency company goes out of business, your funds deposited with cryptocurrency financial services providers will not be covered by federal insurance. Insurance or protection by a deposit insurance company. BTC’s market share rose to a new high since April 2021, temporarily reporting 49.31%; ETH’s market share was 16.72%; USDT’s market share was 7.43%. OKLink data shows that ETH Gas fees dropped to 5 Gwei, a new low since October 2022. A spokesman for the ETH Foundation announced a USDC transfer worth $15 million, saying it was just a transfer from Vitalilk's charity wallet. FTX Debtors Announces Resolution of Customer Property Disputes As Part of Its Pending Chapter 11 Cases FTX Debtors estimates that by the second quarter of 2024, subject to bankruptcy court approval, customers will receive more than 90% of the distributable value. Bloomberg analyst James Seyffart said that driven by the rumor that "BlackRock BTC spot ETF received approval from the U.S. Securities and Exchange Commission (SEC)", BTC surged by more than 10%. This is like a preview to let the market know if the spot ETF is really The approval gives traders a playbook of what will happen.Analysts at CryptoQuant said that if the United States approves a spot BTC ETF, the market capitalization of the cryptocurrency market will increase by $1 trillion. This event will lead to the next wave of adoption of the asset class by institutional investors. Given this historical relationship, analysts expect that if $150 billion were to flood the market, which would mean an increase of 82-165% in terms of price, BTC would reach $50,000-$73,000. From rejection to communication. The discount rate of Grayscale's Big Pie Trust Fund GBTC continues to narrow to 12.98%, with the historical high close to 50%. GBTC's negative premium can be seen as a "wind vane" for the market's confidence in the adoption of Big Pie Spot ETFs. Gensler, director of the U.S. Securities and Exchange Commission, said: The SEC is still communicating with companies applying for BTC spot ETFs, and the SEC is weighing proposals for BTC spot ETFs. Following the resubmission of revised spot BTC ETF prospectuses by ARK and Invesco, asset management giant Fidelity also resubmitted its BTC spot prospectus today. ETF analyst James Seyffart said that more evidence that potential spot BTC ETF issuers are communicating with the SEC about the changes/revisions required for the agency to consider approval is a positive sign. Minutes of the Federal Reserve's (12 regional Feds) discount rate meeting showed that among the 12 regional Feds at the last interest rate meeting, only Cleveland Fed board members supported a 25 basis point increase in the discount rate, while the other 11 Feds favored keeping the discount rate unchanged. Over the past few weeks, Fed members have made numerous comments suggesting that rising Treasury yields have led to tighter financial conditions and that further rate increases may not be necessary. The interest rate hike cycle is destined to end, and the cyclical nature of the pie has emerged. Recently, many people say that Big Pie is a vampire copycat. A common phenomenon in the early stages of the bull market is that the market value of big cakes increases. In the last cycle, the market share of big cakes rose from a low of 50% in early 2019 to nearly 70% in September 2019, and then dropped all the way to August 2020. At the end of 2020, when the pie broke through the historical high, the market share of the pie briefly rose to 73%. In the bull market of 2021, the market share dropped to a low of 40%. (Copycats are the opposite) The share of the market capitalization of big pie sucking copycats increases. This phenomenon is more obvious in the early stages of a bull market (including the previous bear market). Among cryptocurrencies, the big market is the easiest and the first to receive capital inflows. The pursuit of funds caused the price and market value to rise higher than the altcoins in the early stage.The big pie is at a high level, and profit-making funds are flowing out to Ethereum and many other crypto projects. As a result, in the middle and late stages of the bull market, the market value of copycats exceeds the market value, and the bubble becomes more and more inflated. In the last cycle, the old man also wrote about the order of capital flow and the traditional routine (the big pie leads the way in the early stage, and the copycats share the pie in the middle and later stages). If you think that the current big pie is rising alone and the copycats are sucked by the big pie, then this may be an early phenomenon of the traditional bull market, and the gears of fate begin to turn and the cycle repeats itself. (Old leeks are more concerned about the market share of big cakes, which is currently 50% and 38% at the beginning of the year) #etf #bnbgreenfield #BTC

Since the rapid rise from 15555 this round, everyone seems to be immersed in the joy of Mavericks, but I still want to express my own views. From being criticized for being bearish throughout February, and being criticized for being bearish at 25200, I seem to have gained an additional skill, which is to automatically ignore noise.

This post was originally updated on the 1st, but due to other reasons, it has been kept in draft. I'm free today, so I won't talk nonsense and will just serve the hard food.

First, let’s look at the closing situation of the monthly line; the “cross star” cross star is the most characteristic K line with a combination reversal pattern.

And we can see that the closing price of Bitcoin in February was lower than the flat price in August last year.