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Bitcoin price broke above $36,000 and approached $40,000 for the first time since May 2022. This combination of Bitcoin, Ethereum-XRP and cryptocurrency market has helped me 600 billion dollars since January before the inevitable "tipping point".
Amid the sudden Bitcoin "carpet" threat, a "window" has quietly opened where Wall Street giants can invest $17.7 trillion and lift the cryptocurrency market.
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This week, an eight-day window from November 9 to 17 opened for twelve US spot exchange-traded funds (ETFs) with the US Securities and Exchange Commission (SEC). The stock exchange may be authorized by Bloomberg. Intelligence analysts James Seyfarth and Eric Balchunas.
BlackRock's introduction of its bitcoin spot ETF in June sparked a race among Wall Street's biggest asset managers, which collectively manage $17.7 trillion, to create a full-fledged bitcoin fund after the SEC rejected it after years of investigation.
“The SEC issued a standstill order to BlackRock
, Fidelity and Valkyrie at the same time," Seyfarth wrote in a window that sees a wave of confirmation orders for all current applicants.
BlackRock's Bitcoin Spot ETF boosts expectations as the SEC moves closer to long-awaited bitcoin approval. Crypto asset manager Grayscale to convert major bitcoin trust to Bitcoin Spot ETF Wins Major Legal Victory In August,
rejected Greyscale's legal challenge in court, ordering the SEC to review the application against its proposal to convert GBTC funds into a bitcoin spot
ETF .
"We believe the first available window will be after the grayscale court victory is secured if the agency wants to allow the 12 applicants to begin work," Seyfarth said.
Even before the SEC's decision, Bitcoin, Ethereum,
"Bitcoin has broken out of a long consolidation zone and is approaching the next $37,000," Alex Kupcikevich, chief market analyst at FxPro, said in an emailed comment.
"Technical implementation of this pattern suggests an increase to $41,000-$45,000, depending on the point we initially selected as the final pressure. The cover appears to be a relevant target with a pivot point nearby. - Soon, in April. 2022 The adjustment recovery is over and the hard sell process begins.