Reserve

Bitcoin ETF

Read

Spot

<a href="http://tradingview.com/symbols/BTCUSD/">Bitcoin’s</a> recent price surge beyond $42,000 marks a significant turnaround in its market trajectory, particularly in light of dovish signals from the US Federal Reserve. 
The central bank’s decision to maintain steady interest rates, coupled with hints of potential rate cuts in 2024, has breathed new life into the cryptocurrency market, propelling Bitcoin past the $43,000 mark. 
$42k key resistance <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> – If reclaimed 43k will be quick. My short targets are 40k and 39k. I think we see lower prices first.<a href="https://twitter.com/hashtag/Cryptoassets?src=hash&amp;ref_src=twsrc%5Etfw">#Cryptoassets</a> <a href="https://twitter.com/hashtag/CryptoX?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoX</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/blockchain?src=hash&amp;ref_src=twsrc%5Etfw">#blockchain</a> <a href="https://twitter.com/hashtag/nft?src=hash&amp;ref_src=twsrc%5Etfw">#nft</a> <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw">#cryptocurrency</a> <a href="https://twitter.com/hashtag/BTCUSD?src=hash&amp;ref_src=twsrc%5Etfw">#BTCUSD</a> <a href="https://t.co/Xdcac9Bf3G">pic.twitter.com/Xdcac9Bf3G</a> 
— Flying High (@CryptoGoPro) <a href="https://twitter.com/CryptoGoPro/status/1734976645529051267?ref_src=twsrc%5Etfw">December 13, 2023</a> 
This resurgence is further bolstered by the US Financial Accounting Standards Board’s (FASB) recent introduction of new accounting rules. 
Set to be implemented in 2025, these rules mandate companies like <a href="https://fortune.com/crypto/2023/12/13/tesla-block-bitcoin-crypto-fasb-rule-change-2024/">MicroStrategy, Tesla, and Block to assess their cryptocurrency holdings</a> at fair value, allowing for a more accurate reflection of real-time asset fluctuations. 
These developments, alongside the Federal Reserve’s interest rate decisions, are reshaping the landscape for Bitcoin and possibly heralding the return of a bull run. 
Additionally, the SEC’s “Cash Redemption Model” and its implications for Bitcoin ETFs present another intriguing facet to this evolving narrative. 
<h2 id="federal-reserve-s-interest-rate-decision-sparks-bitcoin-surge">Federal Reserve’s Interest Rate Decision Sparks Bitcoin Surge</h2> 
 It’s worth noting that the <a href="https://www.cnbc.com/2023/12/13/fed-interest-rate-decision-december-2023.html">Federal Reserve has decided</a> to keep its benchmark interest rate steady for the third time in a row, maintaining rates at a high of 5.25 to 5.5%. This move reflects the Fed’s goal of managing inflation without disrupting the economy. 
Interestingly, this decision has significantly impacted the cryptocurrency market, especially Bitcoin. Bitcoin’s value surged to a new high of $42,709, likely influenced by the Fed’s decision to keep interest rates unchanged. 
<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is currently pushing against my mentioned resistance level $43,000 where the MA 50 is moving (green) 
That said <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> does exactly what I prognosed with <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#altcoins</a> catching up 
With yesterday‘s positive FED‘s rate hike pause continuation markets turned bullish 
 $43,600 <a href="https://t.co/QfQb9ubmsV">pic.twitter.com/QfQb9ubmsV</a> 
— Dom's Crypto (@Doms_Crypto) <a href="https://twitter.com/Doms_Crypto/status/1735241065114816761?ref_src=twsrc%5Etfw">December 14, 2023</a> 
The Fed’s stance has also shifted expectations for future monetary policy, with a growing probability of a rate cut by March 2024. This change has led to a decline in yields on U.S. securities, hinting at a more favorable environment for risk assets such as Bitcoin. 
Therefore, the Federal Reserve’s decision to maintain interest rates has significantly boosted Bitcoin’s value, with the cryptocurrency reaching a new high of $42,709. The stability makes cryptocurrencies more attractive amidst lower interest rates and altered expectations for future monetary policy. 
<h2 id="sec-s-cash-redemption-model-and-its-impact-on-bitcoin-etfs">SEC’s “Cash Redemption Model” and Its Impact on Bitcoin ETFs</h2> 
 Recent reports indicate that the <a href="https://cryptonews.com/news/sec-finally-serves-hex-founder-richard-heart-with-lawsuit-alleging-fraud.htm">US Securities and Exchange Commission (SEC)</a> has introduced a new rule for all Bitcoin Spot Exchange-Traded Fund (ETF) applicants awaiting approval. 
The SEC’s “Cash Redemption Model” mandates that every Bitcoin Spot ETF applicant adhere to this new standard. 
This development occurs as spot Bitcoin ETF issuers are finalizing their filings with the SEC, highlighting the regulator’s firm insistence on this model. 
The <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw">#SEC</a>'s push for a "<a href="https://twitter.com/hashtag/cash?src=hash&amp;ref_src=twsrc%5Etfw">#cash</a>" redemption model dominates the race for <a href="https://twitter.com/hashtag/spot?src=hash&amp;ref_src=twsrc%5Etfw">#spot</a> <a href="https://twitter.com/hashtag/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw">#BitcoinETF</a> approval, impacting proposals and delaying decisions on <a href="https://twitter.com/hashtag/cryptoETFs?src=hash&amp;ref_src=twsrc%5Etfw">#cryptoETFs</a>. 
Read more <a href="https://t.co/ueCeTDZUlJ">https://t.co/ueCeTDZUlJ</a><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw">#SEC</a> <a href="https://twitter.com/hashtag/UnlockBlockchain?src=hash&amp;ref_src=twsrc%5Etfw">#UnlockBlockchain</a> <a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoNews</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> <a href="https://twitter.com/hashtag/Invesco?src=hash&amp;ref_src=twsrc%5Etfw">#Invesco</a> <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a> <a href="https://t.co/v0PAg3yacm">pic.twitter.com/v0PAg3yacm</a> 
— Unlock Blockchain (@unlockbc) <a href="https://twitter.com/unlockbc/status/1735212854867837333?ref_src=twsrc%5Etfw">December 14, 2023</a> 
This model enables authorized participants to deposit funds equivalent to the net asset value, thus facilitating the purchase of underlying assets like Bitcoin. 
Invesco is one of the companies adopting this cash creation and redemption standard for its ETF, a move confirmed by Bloomberg Senior ETF analyst Eric Balchunas. 
Consequently, the SEC’s introduction of the “Cash Redemption Model” for Bitcoin ETFs is likely to significantly impact the market, with Bitcoin potentially experiencing increased volatility as market participants adapt to this new regulatory framework. 
<h2 id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
In the dynamic world of digital currencies, <a href="https://cryptonews.com/coins/bitcoin/">Bitcoin’</a>s performance on December 14 presents a compelling narrative. The cryptocurrency, currently priced at $42,900, has experienced notable fluctuations, reinforcing its position as a dominant player in the market. 
In the technical realm, Bitcoin navigates around a pivotal point of $42,900.00, with immediate resistance observed at $44,645, a peak previously achieved on December 8. Subsequent resistance levels are at $46,160 and $47,900, each representing critical junctures for potential bullish advancement. 
On the flip side, the support levels are distinctly outlined by Fibonacci retracement levels at $41,625 (38.2%), $40,660 (50%), and $38,350 (78.6%), offering strategic points for possible trend reversals. Bitcoin Price Chart – Source: Tradingview 
The technical indicators paint a mixed picture. The Relative Strength Index (RSI) at 23 signals an oversold condition, suggesting potential for a rebound. Notably, Bitcoin’s current position above the 50-Day Exponential Moving Average (EMA) of $42,250 corroborates a short-term bullish sentiment. 
Conclusively, the overall trend for Bitcoin appears bullish above the $42,250 threshold. The short-term forecast indicates a likelihood of testing the resistance levels in the near future. 
Investors and traders are keeping a watchful eye on these technical indicators and chart patterns to navigate the ever-evolving landscape of cryptocurrency trading. 
<h2 id="top-15-cryptocurrencies-to-watch-in-2023">Top 15 Cryptocurrencies to Watch in 2023</h2> 
 Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments. 
Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed. <a style="text-decoration: none;color: white" href="https://cryptonews.com/news/new-cryptocurrency.htm" target="_blank" rel="nofollow noindex noopener" data-darkreader-inline-color="">See the 15 Cryptocurrencies</a> 
Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication – cryptocurrencies are highly volatile investments with considerable risk, always do your own research.

Bitcoin Price Prediction as BTC Surpasses $42,000 Amidst Dovish Fed Signals – Is the Bull Run Back?

Table of Contents

Cryptonews.com

Other articles published on Dec 14, 2023

There was a sudden sharp decline in Bitcoin Price! What is the Source of the Decline?

DEX Volume In Crypto: November Sees $29 Billion Surge, Yet CEXs Hold 97% Market Grip

3 MICRO & LOW CAP Altcoin Gems | HIGHEST 2025 RETURNS

Donald Trump is bullish on U.S. economy – Here is why

What A Strong Rebound? Bitcoin Nears $43,000 Post Fed Rate Decision

Dogecoin Price Prediction as Avalanche Overtakes DOGE in Crypto Rankings – End of Meme Coins?

Join our free newsletter for daily crypto updates!